Review Terms for "Global Economics" Section

This list represents the terms/concepts that we have covered since the last quiz.

Be able to understand each concept; but look above and below each entry to see how that particular concept matches with other topics.

Note that the simulations covered in section are also valid material for the quiz.

Questions? Post them here, and I'll answer.

Developed vs. Underdeveloped States
Rich versus Poor States: how rich versus how poor?
GNP and GNP/PC
Purchasing Power Parity (What isn’t measured in GDP?)
Industrialization vs. Basic Needs
Cycle of Underdevelopment
(Dual Economy, Low Productivity, Insufficient Capital, Few Human Services, Trade, Foreign Aid, Private Investment, Technical Assistance, Lack of Social Cohesion, Insufficient Natural Resources, Explosive Population Growth)
Colonial Legacy (positives and negatives)
Cash Crops
Tariff Barriers
Non-Tariff Barriers (Quota, Subsidy, Regulation)
Stronger vs. Weaker Currencies (What effect does this have on trade?)
Liberal Economics (Comparative Advantage, Specialization, Free Trade)
Dependency (Import Substitution versus Export Driven Growth)
Participatory Development
Globalization: Definitions
Globalization: Free Trade debate
Globalization Mechanisms
(Convergence, Pressure on Government/Policy, Why fewer and less regulations, taxes, etc.)
International Monetary Fund( Two Roles - formal and informal, Benefits and Criticisms, "Golden Straightjacket")
East Asian Financial Crisis: Two explanations
Globalization: Positives and Negatives, Pros and Cons (lots here)
Effects (not just economic)
NAFTA debate (overall effects, pros, cons)