Содержание
- 2. CONTENT: 1. General definitions and terms of GE. 2. Theories of the world trade (WT). 3.
- 3. Part 1. General definitions and terms of GE.
- 4. The difference between similar terms: economic/economical Economic pertains to the economy. Economical means not wasteful. economy/economics
- 5. The world economy or global economy is the economy of the world, considered as the international
- 6. A subject matter of GE is WER. WER: trade of goods and services; capital flow; labour
- 7. BACKGROUND AND FORMATION PERIOD OF GE: 1. Definition of GE and global market. 2. International division
- 8. IDL - the allocation of various parts of the production process to different places in the
- 9. GENERAL MEANING OF THE TERM «GE»: a system of world economic relations, national economies` cooperation; A
- 10. Stages of GE’s formation: Age of Discovery Before the 1st World War Between 2 World Wars
- 12. GE – a system of Goods, Services and Capital exchange between Buyers (Customers) and Sellers. Attributes/
- 13. World Trade theories: Mercantilism Absolute advantages Comparative advantages Heckscher-Ohlin theorem Technological gap by Posner and Product
- 14. Part 2. Theories of WT.
- 15. Adam Smith VS David Ricardo: 2 countries and 2 items of goods (labour costs): Alternative costs
- 16. Basics of Heckscher Ohlin theory: 2 countries 2 items of goods – cloth and food 2
- 17. The H-O theory says that countries will export products that use their abundant and cheap factor
- 19. Product Life-Cycle Model by Vernon
- 20. Part 3. WT regulation. Free trading and protectionism. INCOTERMS 2010.
- 21. 2 ways to control world trade by a state : free-trade & protectionist practices. World trade
- 22. FREETRADING PROS Market saturation with cheap & quality goods Growing of foreign tax payments (fiscal charges)
- 23. What`s the difference between tradable and non-tradable goods: С.Л. Еремина Мировая экономика A price for TG
- 24. To trade or not to trade?
- 25. Tariff and Non-tariff Regulations (the Customs Code of the Customs Union – the RF) Duty rate
- 26. Eurasian Economic Union is an economic unionis an economic union of states located primarily in northern
- 27. Duty VS Fee (Charge) Import VS Export ad valorem duties fixed (specific) duties combined (mixed) duties
- 28. Russia VS other countries General rate of duties Most favoured nation treatment Preferential duties
- 29. Let`s count all our customs payments: Customs value (cost) Customs duty Excise tax VAT Customs fee
- 30. How much is the fish? No, Spanish fizzy wine
- 31. How сan customs value be estimated (calculated, defined, assessed)? The methods of customs valuation, in descending
- 32. Deductive Value: Domestic price (Customs Union) – Agent commission (broker`s fee, profit %) Transporting (transfer, move,
- 33. Computed Value: Goods estimated (calculated) value = Operating (production) cost (expenditure) – all we need to
- 34. Defined terms in Incoterms: (International Commercial Terms) - define obligations, costs, and risks involved in the
- 35. FROM «E» TO «D»: EXW – Ex Works (named place of delivery) maximum obligation on the
- 36. The Economic Integration between two countries is a measure of how much two or more countries
- 37. Part 4. Economic integration.
- 38. Economic integration: is the unification of economic policies between different states; the partial or full abolition
- 39. What is the basis of economic integration? Comparative advantageComparative advantage refers to the ability of a
- 40. Degrees of economic integration: Preferential trading area Free trade area (North American Free Trade Agreement) Customs
- 41. Additional info about degrees: A "free trade area" (FTA) is formed when at least two states
- 42. Pros and Cons of Economic Integration: Trade benefits: a reduction in the trade cost; an improved
- 43. Measuring Economic Integration The methodology for measuring economic integration typically involves the combination of multiple economic
- 44. Part 5. Currency. International monetary system.
- 45. Currency refers to a particular authorized monetary system, monetized in specific units (euros, dollars, pesos, etc.)
- 46. Each currency typically has a main currency unit (the dollar(the dollar, for example, or the euro)
- 47. Convertibility of a currency determines the ability of an individual, corporate or government to convert its
- 48. Partially convertible Central banks control international investments flowing in and out of the country, while most
- 49. In the foreign exchange market, a currency pair is the quotation of the relative value of
- 50. Example: Russian ruble is the national currency. Direct quotation is 57,03 USD/RUB which means you can
- 51. Lets find the cross-rate for the Russian ruble: The C-R is an exchange rate between two
- 52. An exchange-rate regime (ERR) is the way an authority manages its currency is the way an
- 53. Floating rates are the most common exchange rate regime today. For example, the dollar, euro, yenthe
- 54. Pegged floating currencies are pegged to some band or value, either fixed or periodically adjusted. During
- 55. Fixed rates are those that have direct convertibility towards another currency. In case of a separate
- 58. International monetary systems (IMS) International monetary systems are sets of internationally agreed rules and supporting institutions,
- 59. What do IMS provide? Confidence Sufficient liquidity for fluctuating levels of trade Means by which global
- 60. International monetary systems over two centuries
- 61. Competing ideas for the next international monetary system
- 62. By the way, what`s about the Russian ruble? As for the ruble, in spite of high
- 63. Part 6. Transnational corporations.
- 64. Transnational Corporations
- 65. The United Nations has justly described TNC as “the productive core of the globalizing world economy.”
- 66. Sustainable Development Goals (SDGs) and TNCs The globalization of economic activity in general, and the growing
- 67. The Sustainable Development Goals (SDGs). Goal 1: No Poverty Goal 2: Zero Hunger Goal 3: Good
- 68. What are the functions of TNC? Importing and exporting goods and services Making significant investments in
- 69. The 5 Cons of Multinational Corporations. 1. The Market Dominance of Multinational Corporations - The market
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