International Aspects
International aspects
Candidates should be able to:
- describe the benefits and disadvantages of specialisation at regional and national levels
- describe the structure of the current account of the balance of payments
- discuss the causes and consequences of current account deficits and surpluses
- define exchange rates
- discuss the causes and consequences of exchange rate fluctuations
- describe methods of trade protection
- discuss the merits of free trade and protection
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