EAE 307: INTERNATIONAL ECONOMICS I INSTRUCTOR: P. M. KUUYA SCHOOL OF ECONOMICS DEPARTMENT OF APPLIED ECONOMICS EAE 307: INTERNATIONAL ECONOMICS I LECTURER: P. M. KUUYA TABLE OF CONTENTS 1 LECTURE ONE 6 1.0 INTRODUCTORY LECTURE 6 1.1 Why We Study International Economics 8 1.2 The Subject Matter of International Economics
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RW in the absence of international trade? Also give the opportunity costs of a ton of apples in both countries. Which product will the EU be exporting? b. Draw the production possibility frontier for the EU. c. What is the relative price of a bike in the EU in the absence of international trade? d. Now assume that in case of free international trade‚ the world relative price of bikes is 2. Use the equilibrium price to demonstrate that the EU will benefit from international trade. Exercise
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International Trade International trade is the exchange of goods and services between countries. (“Trade Foreign Policy‚ Diplomacy and Health‚” n.d). The exact origin of international trade is hard to pinpoint but exchange of goods between nations have been conducted for thousands of years. Trade by individuals was necessitated out of the absence of self-sufficiency in human beings. In the same way‚ international trade was born out of the fact that no nation is super-abundant in every
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CASE I ARROW AND THE APPAREL INDUSTRY 1. Why did Arvind Mills choose globalization as major route to achieve growth when domestic market was huge? Answer The reasons of choosing global market by Arvind Mills are: 1. Market seeking motives‚ such as exclusiveness of product and service with high productivity‚ stringent in-line quality control and an encouraging manufacturing atmosphere. 2. Economic motives‚ such as profit making by implementing cutting edge technologies to achieve economies
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Introduction In international politics‚ protocol is the etiquette of diplomacy and affairs of state. It may also refer to an international agreement that supplements or amends a treaty. Diplomatic protocol dictates how politicians and representatives of various nations should behave during their official interactions‚ as a means to promote civility and convey their respect. Specific rules of protocol may differ somewhat depending on the nation or culture; however‚ there are certain acts‚ such
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1. The short answer is that current events are news regarding what is happening around the world. The study of international relations involves being "political historians" and "political philosophers”. It’s the study of the relations of states with each other and with international organizations and certain subnational entities (e.g.‚ bureaucracies and political parties). It is related to a number of other academic disciplines‚ including political science‚ geography‚ history‚ economics‚ law‚ sociology
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International Integration Introduction The ongoing process of international integration is often referred to as ’globalization ’. An organization called the ’United Nations ’ (UN) is specifically important as it is contributing to this process by creating a possibility for its members to discuss problems‚ initiatives and much more. Almost all states are its members and through that an important environment is created for international integration. The question
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CASE 1 (a) What was the critical catalyst that led Kodak to start taking the Japanese marketseriously? Kodak: The Changing StrategiesBy 2000‚ Kodak‚ the company thatpioneered the imaging industry byinventing easy-to-use cameras andphotographic film‚ was in deep crisis. Withthe advent of digital cameras in the mid1990s‚ Kodak found its sales declining asconsumers preferred the new cameras‚which did not use films. The growingpopularity of digital cameras led to a slumpin film sales‚ which was a major
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were also needed for its growth. IKEA stated that low costs in all operations are prerequisites for the lowest prices. Low prices give big volumes in sales and long-term profits for IKEA. How was IKEA able to apply this source of success to the international markets when this industry is clearly domestic? At the moment when the domestic market was already saturated and demand for furniture had decreased‚ IKEA’s business model haven’t been widely accepted by competitors’ in the industry‚ and similar
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issues is to determine how to appropriately compensate and incentivize their employees. International compensation is defined as ‘the provision of monetary and non-monetary rewards valued by employees according to their relative contributions to MNC performance’ (Harzing‚ 2004). The main objective of any international compensation is to attract and retain the most talented people who are qualified for international assignments. In most situations‚ managers would want to hire expatriates as they already
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