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International Trade
International Financial Relations
International Monetary Relations
International Law and Human Rights
The Global Environment
100
The ability of a country or firm to produce a particular good or service more effectively than other goods or services, such that its resources are most efficiently employed in this activity.
What is Comparative Advantage
100
Investments in a foreign country via the purchase of stocks (equities), bonds or other financial instruments. Investors do NOT exercise managerial control of the foreign operation.
What are portfolio investments
100
The price at which one currency is exchanged for another.
What is Exchange Rate.
100
The rights possessed by all individuals by virtue of being human, regardless of their status as citizens of particular states or members of a group or organization.
What are Human Rights.
100
Characterizing a public good: If the good is available to one actor to consume, then other actors cannot be prevented from consuming it as well.
What is Nonexcludable.
200
Any government limitation on the international exchange of goods. Examples include tariffs, quantitative restrictions, import licenses, requirements that governments only buy domestically produced goods, and health and safety standards that discriminate against foreign goods.
What are trade barriers.
200
Investment in a foreign country via the acquisition of a local facility or the establishment of a new facility. Investors DO maintain managerial control of the foreign operation.
What is Foreign Direct Investment (FDI).
200
An exchange rate policy under which a government permits its currency to be traded on the open market without direct government control or intervention.
What is a Floating Exchange Rate.
200
Adopted by the United Nations General Assembly in 1948, this declaration defines a "common standard of achievement for all people" and forms the foundation of modern human rights law.
What is the Universal Declaration of Human Rights (UDHR).
200
Obstacles to cooperation that occur when actors have incentives to collaborate but each acts in anticipation that others will pay the costs of cooperation.
What are Collective Action Problems.
300
An institution created in 1995 to succeed the GATT and to govern international trade relations. This institution encourages and polices the multilateral reduction of barriers to trade, and it oversees the resolution of trade disputes.
What is the World Trade Organization (WTO).
300
A sharp slowdown in the rate of economic growth and economic activity.
What is a recession.
300
The monetary system in which countries tied their currencies to gold at a legally fixed price.
What is the Gold Standard.
300
A body of rules that binds states and other agents in world politics and is considered to have the status of law.
What is International Law.
300
An amendment to the United Nations Framework Convention on Climate Change, adopted in 1997 and entered into force in 2005, that establishes specific targets for reducing emissions of CO2, and five other greenhouse gases.
What is the Kyoto Protocol.
400
The theory that a country will export goods that make extensive use of the factors of production in which it is well endowed. Thus, a labor-rich country will export goods that make intensive use of labor.
What is the Heckscher-Ohlin Trade Theory.
400
The application of policies to reduce consumption, typically by cutting government spending, raising taxes, and restricting wages.
What is Austerity.
400
The institution that regulates monetary conditions in an economy, typically by affecting interest rates and the quantity of money in circulation.
What is the Central Bank.
400
A set of individuals and nongovernmental organizations acting in pursuit of a normative objective.
What is a Transnational Advocacy Network.
400
Costs or benefits for stakeholders other than the actor undertaking an action. The decision maker does not bear all the costs or reap all the gains from his or her action.
What are Externalities.
500
The theory that protection benefits the scarce factor of production. This view flows from the Hecksher-Ohlin approach: if a country imports goods that make intesive use of its scarce factor, then limiting imports will help that factor.
What is the Stopler-Samuelson Theorem.
500
Loans from private financial institutions in one country to sovereign governments in other countries.
What is Sovereign Lending.
500
An important tool of national governments to influence broad macroeconommic conditions such as unemployment, inflation, and economic growth. Typically these are achieved through changing national interest rates or exchange rates.
What is Monetary Policy.
500
Individuals and groups who seek to advance principled standards of behavior for states and other actors.
What are norm entrepreneurs.
500
Goods that are available to everyone, such as open ocean fisheries; it is difficult to exclude anyone from using this, but one user's consumption reduces the amount available for others.
What are Common Pool Resources.