AS & A Level Economics 9708 · Topic 11

International economic issues (A Level): past paper questions

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Real questions on international economic issues (a level)

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11.1 Policies to correct disequilibrium in the balance of payments

components of the balance of payments accounts: current account, financial account and capital account.
effect of fiscal, monetary, supply-side, protectionist and exchange rate policies on the balance of payments.
difference between expenditure-switching and expenditure-reducing policies.

11.2 Exchange rates

measurement of exchange rates: • distinction between nominal and real exchange rates • trade-weighted exchange rates.
determination of exchange rates under fixed and managed systems.
distinction between revaluation and devaluation of a fixed exchange rate.
changes in the exchange rate under different exchange rate systems.
the effects of changing exchange rates on the external economy using Marshall-Lerner and J curve analysis.

11.3 Economic development

classification of economies in terms of their level of development.
classification of economies in terms of their level of national income.
indicators of living standards and economic development: • monetary indicators including real per capita national income statistics (GDP, GNI, NNI) and purchasing power parity • issues of comparison using monetary indicators • non-monetary indicators • composite indicators: – Human Development Index (HDI) – Measure of Economic Welfare (MEW) – Multidimensional Poverty Index (MPI) • the Kuznets curve.
comparison of economic growth rates and living standards: • over time • between countries.

11.4 Characteristics of countries at different levels of development

population growth and structure: • measurement and causes of changes in birth rate, death rate, infant mortality and net migration • optimum population • level of urbanisation.
income distribution: • calculation of Gini coefficient and Lorenz curve analysis.
economic structure: • employment composition: primary, secondary and tertiary sectors • pattern of trade at different levels of development.

11.5 Relationship between countries at different levels of development

international aid: • forms of aid • reasons for giving aid • effects of aid • importance of aid.
trade and investment.
role of multinational companies (MNCs): • definition of MNC • activities of MNCs • consequences of MNCs.
Foreign Direct Investment (FDI): • definition of FDI • consequences of FDI.
external debt: • causes of debt • consequences of debt.
role of the International Monetary Fund (IMF).
role of the World Bank.

11.6 Globalisation

meaning of globalisation and its causes and consequences.
distinction between a free trade area, a customs union, a monetary union and full economic union.
trade creation and trade diversion.

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