IB Economics Unit 3: International Economics Class Assignments: Week #22 Monday February 1, 2016 Chapter 20: International Trade Read & Discuss: 20.1 The Benefits of Trade pages 414-‐418 Define: Free Trade Discuss: A Morning Tale of Two Teenagers Examine: Voluntary Trade Is Mutually Beneficial Identify: The Eight Benefits of Voluntary Trade Examine: A Brief History of Trade Theory Omit 20.2 HL Only Due in Class on February 3rd. Exercise #2 (I-‐VI) Pearson Hotlink to WTO Select Country and Group Members Present as Groups in Class on Thursday February 4th. Tuesday February 2, 2016 Read & Discuss: 20.3 The World Trade Organization (WTO) pages 426-‐428 Discuss: A Brief History Examine: Aims of the WTO Examine: Competing Views of the WTO Discuss: Supporters View Discuss: Critics View Examine: A Hot Topic Answer: "Are there moral as well as economic arguments in favor of free trade?" Wednesday February 3, 2016 WTO Country Presentations Exercise #2 (I-‐VI) on page 428 Pearson Hotlink to WTO Select Country and Group Members on Monday. Present as Groups in Class Today. Thursday February 4, 2016 Chapter 21: Protectionism Read & Discuss: 21.1 The Case For Protectionism pages 431-‐436 Define: Protectionism Examine: Arguments for Protectionism Discuss: The 11 Reasons for Protectionism Friday February 5, 2016 Micro & Macro Economics Internal Assessment Reviews and World Trade Organization News Articles Bloomberg Article Japan Joins WTO Case
Reuters Article EU Loses WTO Case Business World Online The Future of the WTO Answer these Questions in Your Notebook: 1. Why are many international markets becoming dominated by a relatively small number of large companies? What are the economic consequences of this trend? 2. A certain country experiences persistent balance of payments deficits. Why might this occur? Is it necessarily a serious economic problem? 3. If protectionism is such a bad thing, why have so many countries joined trading blocks? Homework Assignment: Week #22 Monday February 1, 2016 Practice Question #1a on page 430 Begin News Article Research for Internal Assessment #3 on Unit 3 International Economics Tuesday February 2, 2016 Exercise #2 (I-‐VI) on page 428 Pearson Hotlink to WTO Select Country and Group Members on Monday. Present as Groups in Class on Wednesday February 3rd. Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Wednesday February 3, 2016 Practice Questions #1b & 3b on page 430 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Thursday February 4, 2016 Exercises # 1, 2 & 3 on page 436 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Friday February 5, 2016 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Rough Draft Due February 26, 2016
Class Assignments: Week #23 Monday February 8, 2016 Chapter 21: Protectionism Read & Discuss: 21.2 The Case Against Protectionism pages 436-‐438 Examine: Arguments Against Protectionism Discuss: The 6 Reasons for Protectionism Identify: Gains From Trade Tuesday February 9, 2016 Read & Discuss: 21.3 Types of Protectionism pages 438-‐446 Discuss: Tariffs Examine: Impact on Domestic Producers & Foreign Producers, Government and Consumers. Examine: Welfare Loss Discuss: Quotas Examine: Impact on Domestic Producers & Foreign Producers, Government and Consumers. Examine: Welfare Loss Discuss: Voluntary Export Restraints (VERs) Discuss: Subsidies Examine: Impact on Domestic Producers & Foreign Producers, Government and Consumers. Examine: Welfare Loss Examine: Administrative Barriers Examine: Exchange Rates Examine: Nationalistic Campaigns Wednesday February 10, 2016 Chapter 22: Exchange Rates Read & Discuss: 22.1 Determination of Exchange Rates pages 453-‐457 Examine: The Foreign Exchange Market Notes: Figure 22.1 Actors in the Foreign Exchange Market on page 454 Discuss: Floating Exchange Rates, Appreciation & Depreciation Thursday February 11, 2016 Chapter 22: Exchange Rates Read & Discuss: 22.2 Causes of Change in the Exchange Rates pages 457-‐459 Examine: Determinants of Exchange Rate Read & Discuss: 22.3 Effects of Change in the Exchange Rate pages 459-‐459 Examine: Appreciation of the Exchange Rate Examine: Depreciation of the Exchange Rate Friday February 12, 2016 Internal Assessment Reviews & Foreign Exchange Markets (FOREX) News Articles
Wall Street Journal: China's FOREX Reserves Reuters Article FOREX Dollar Hits 15 Month Low The Telegraph: FOREX Oil and Global Slowdown Homework Assignment: Week #23 Monday February 8, 2016 Practice Question #1 a & d on page 451 Begin News Article Research for Internal Assessment #3 on Unit 3 International Economics Tuesday February 9, 2016 Practice Question #2 a & d on page 452 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Wednesday February 10, 2016 Practice Questions #1 a & d on page 476 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Thursday February 11, 2016 Practice Questions #2 a & d on page 477 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Friday February 12, 2016 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Rough Draft Due February 26, 2016 Class Assignments: Week #24 Monday February 22, 2016 Chapter 22: Exchange Rates Read & Discuss: 22.4 Government Intervention pages 461-‐466 Examine: Fixed Exchange Rates Discuss: Government Methods To Sustain A High Fixed Exchange Rate: Argentina Discuss: Government Methods to Sustain A Low Fixed Exchange Rate: China Examine: Managed Exchange Rates Discuss: Managed Float System Discuss Currency Valuation Tuesday February 23, 2016 Chapter 23: The Balance of Payments Read & Discuss: 23.1 Meaning of the Balance of Payments pages 479-‐480 Discuss: The Balance of Payments (BoP)
Read & Discuss: 23.3 Components of the Balance of Payments pages 480-‐489 Discuss: Accounts in the BoP Examine: How BoP is Measured; Debits and Credits Notes: Figure 23.1 New Zealand's BoP Accounts Examine: The "Current Account" Examine: The "Capital Account" Examine: The "Financial Account" Wednesday February 24, 2016 Internal Assessment Reviews & Foreign Exchange Markets (FOREX) News Articles Wall Street Journal: China's FOREX Reserves Reuters Article FOREX Dollar Hits 15 Month Low The Telegraph: FOREX Oil and Global Slowdown Thursday February 25, 2016 Chapter 23: The Balance of Payments Read & Discuss: 23.1 Meaning of the Balance of Payments pages 479-‐480 Discuss: The Balance of Payments (BoP) Read & Discuss: 23.3 Components of the Balance of Payments pages 480-‐489 Discuss: Accounts in the BoP Examine: How BoP is Measured; Debits and Credits Notes: Figure 23.1 New Zealand's BoP Accounts Examine: The "Current Account" Examine: The "Capital Account" Examine: The "Financial Account" Friday February 26, 2016 Chapter 23: The Balance of Payments Read & Discuss: 23.4 Current Accounts Deficits pages 491-‐492 Discuss: Effect of a Current Account Deficit on the Exchange Rate Read & Discuss: 23.5 Current Account Surpluses pages 501-‐503 Discuss: Effect of a Current Account Surplus on the Exchange Rate Evaluate: The Global Trade Imbalance Review Case Study: BoP Surplus Hit Sept. Quarter on Rising Spend Abroad Homework Assignment: Week #24 Monday February 22, 2016 Exercises #5 a & b, 6 and 7 on page 463 Exercises #8 a & b, 9 and 10 on page 465 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Tuesday February 23, 2016 Practice Questions #1 a, b, c & d on page 507
Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Wednesday February 24, 2016 Practice Questions #2 a (i & ii), b & d on page 508 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Thursday February 25, 2016 Read Case Study: Exercises #2,3 & 4 on page 506 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Friday February 26, 2016 Continue News Article Research for Internal Assessment #3 on Unit 3 International Economics Rough Draft Due February 26, 2016
