Global Economics

Answer the four questions presented below using the essay format. Each question must be answered and reasoned by the student,using theory and examples as appropriate and based on the content from Unit 1 to Unit 5. Please note that you must present examples that support your assumptions. You are expected to complete your answer with demonstrable research.


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1.How would you explain the importance of INTERNATIONAL ORGANIZATIONS for stabilizing economies and influence the global economy? Give examples to sustain your argument and explain the influence international trade agreements have on development of an economy?


2.Please, identify the main drivers behind the third phase of globalization and explain how those still affect the development of the companies and the entrepreneurship in Business?


3.Give an example of a country with an Absolute advantage relative to other and explain why that is happening. Then, explain the difference between the Theory of Absolute Advantage and Comparative Advantage and build a hypothetical scenario from which both could get benefits.


4.In recent years, as part of its efforts to strengthen the international financial system, and to enhance its effectiveness at preventing and resolving crises, the IMF has applied both its surveillance and technical assistance work to the development of standards and codes of good practice in its areas of responsibility, and to the strengthening of financial sectors. Based on this framework in the global economy, describe the role of the International Monetary Fund.

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