IDSB01H3 Lecture : IDSB01 - Lecture 5
31 Mar 2011
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1/3 short answer, multiple choice mainly from readings. Essays should be handed back sometime this week; lecture notes and samples (at least 1 with answers) posted. Key component of international economic interaction: trade in goods and services *focus of today, capital flows. 2nd in the last few hundred years, but there were earlier waves in middle ages, etc. 1st wave -> late 19th century and ended with wwi. 50 years of pause, then in 1970"s (or 80s, depends on how you define it), wave 2 (the one now) End of wave 2 beginning (maybe) wall street"s collapsing: has a lot of elements of what happened in last one. Assume won"t happen for now: globalization means (in quantitative sense): An increase in share of anything a country does is now international i. e. exports/gdp went up (ship out fraction goes up in relation to total production) virtually every country (some exceptions) has seen ratio increase within recent years.
