IB

Economics Unit 3: International Economics

Class Assignments: Week #22

Monday February 1, 2016
Chapter 20: International Trade
Read & Discuss: 20.1 The Benefits of Trade pages 414-418
Define: Free Trade
Discuss: A Morning Tale of Two Teenagers
Examine: Voluntary Trade Is Mutually Beneficial
Identify: The Eight Benefits of Voluntary Trade
Examine: A Brief History of Trade Theory
Omit 20.2 HL Only

Due in Class on February 3rd. Exercise #2 (I-VI) Pearson Hotlink to WTO
Select Country and Group Members
Present as Groups in Class on Thursday February 4th.

Tuesday February 2, 2016
Read & Discuss: 20.3 The World Trade Organization (WTO) pages 426-428
Discuss: A Brief History
Examine: Aims of the WTO
Examine: Competing Views of the WTO
Discuss: Supporters View
Discuss: Critics View
Examine: A Hot Topic
Answer: "Are there moral as well as economic arguments in favor of free trade?"

Wednesday February 3, 2016
WTO Country Presentations
Exercise #2 (I-VI) on page 428 Pearson Hotlink to WTO
Select Country and Group Members on Monday.
Present as Groups in Class Today.

Thursday February 4, 2016
Chapter 21: Protectionism
Read & Discuss: 21.1 The Case For Protectionism pages 431-436
Define: Protectionism
Examine: Arguments for Protectionism
Discuss: The 11 Reasons for Protectionism

Friday February 5, 2016
Micro & Macro Economics Internal Assessment Reviews
and
World Trade Organization News Articles
Bloomberg Article Japan Joins WTO Case

Reuters Article EU Loses WTO Case

Business World Online The Future of the WTO

Answer these Questions in Your Notebook:
1. Why are many international markets becoming dominated by a relatively small
number of large companies? What are the economic consequences of this trend?

2. A certain country experiences persistent balance of payments deficits. Why might
this occur? Is it necessarily a serious economic problem?

3. If protectionism is such a bad thing, why have so many countries joined trading
blocks?
Homework Assignment: Week #22

Monday February 1, 2016
Practice Question #1a on page 430
Begin News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Tuesday February 2, 2016
Exercise #2 (I-VI) on page 428 Pearson Hotlink to WTO
Select Country and Group Members on Monday.
Present as Groups in Class on Wednesday February 3rd.
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Wednesday February 3, 2016
Practice Questions #1b & 3b on page 430
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Thursday February 4, 2016
Exercises # 1, 2 & 3 on page 436
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Friday February 5, 2016
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics
Rough Draft Due February 26, 2016

Class Assignments: Week #23

Monday February 8, 2016
Chapter 21: Protectionism
Read & Discuss: 21.2 The Case Against Protectionism pages 436-438
Examine: Arguments Against Protectionism
Discuss: The 6 Reasons for Protectionism
Identify: Gains From Trade

Tuesday February 9, 2016
Read & Discuss: 21.3 Types of Protectionism pages 438-446
Discuss: Tariffs
Examine: Impact on Domestic Producers & Foreign Producers, Government and
Consumers.
Examine: Welfare Loss
Discuss: Quotas
Examine: Impact on Domestic Producers & Foreign Producers, Government and
Consumers.
Examine: Welfare Loss
Discuss: Voluntary Export Restraints (VERs)
Discuss: Subsidies
Examine: Impact on Domestic Producers & Foreign Producers, Government and
Consumers.
Examine: Welfare Loss
Examine: Administrative Barriers
Examine: Exchange Rates
Examine: Nationalistic Campaigns

Wednesday February 10, 2016
Chapter 22: Exchange Rates
Read & Discuss: 22.1 Determination of Exchange Rates pages 453-457
Examine: The Foreign Exchange Market
Notes: Figure 22.1 Actors in the Foreign Exchange Market on page 454
Discuss: Floating Exchange Rates, Appreciation & Depreciation

Thursday February 11, 2016
Chapter 22: Exchange Rates
Read & Discuss: 22.2 Causes of Change in the Exchange Rates pages 457-459
Examine: Determinants of Exchange Rate
Read & Discuss: 22.3 Effects of Change in the Exchange Rate pages 459-459
Examine: Appreciation of the Exchange Rate
Examine: Depreciation of the Exchange Rate

Friday February 12, 2016
Internal Assessment Reviews &
Foreign Exchange Markets (FOREX) News Articles

Wall Street Journal: China's FOREX Reserves

Reuters Article FOREX Dollar Hits 15 Month Low
The Telegraph: FOREX Oil and Global Slowdown
Homework Assignment: Week #23

Monday February 8, 2016
Practice Question #1 a & d on page 451
Begin News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Tuesday February 9, 2016
Practice Question #2 a & d on page 452
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Wednesday February 10, 2016
Practice Questions #1 a & d on page 476
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Thursday February 11, 2016
Practice Questions #2 a & d on page 477
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Friday February 12, 2016
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics
Rough Draft Due February 26, 2016

Class Assignments: Week #24

Monday February 22, 2016
Chapter 22: Exchange Rates
Read & Discuss: 22.4 Government Intervention pages 461-466
Examine: Fixed Exchange Rates
Discuss: Government Methods To Sustain A High Fixed Exchange Rate: Argentina
Discuss: Government Methods to Sustain A Low Fixed Exchange Rate: China
Examine: Managed Exchange Rates
Discuss: Managed Float System
Discuss Currency Valuation

Tuesday February 23, 2016
Chapter 23: The Balance of Payments
Read & Discuss: 23.1 Meaning of the Balance of Payments pages 479-480
Discuss: The Balance of Payments (BoP)

Read & Discuss: 23.3 Components of the Balance of Payments pages 480-489
Discuss: Accounts in the BoP
Examine: How BoP is Measured; Debits and Credits
Notes: Figure 23.1 New Zealand's BoP Accounts
Examine: The "Current Account"
Examine: The "Capital Account"
Examine: The "Financial Account"

Wednesday February 24, 2016
Internal Assessment Reviews &
Foreign Exchange Markets (FOREX) News Articles
Wall Street Journal: China's FOREX Reserves
Reuters Article FOREX Dollar Hits 15 Month Low
The Telegraph: FOREX Oil and Global Slowdown

Thursday February 25, 2016
Chapter 23: The Balance of Payments
Read & Discuss: 23.1 Meaning of the Balance of Payments pages 479-480
Discuss: The Balance of Payments (BoP)
Read & Discuss: 23.3 Components of the Balance of Payments pages 480-489
Discuss: Accounts in the BoP
Examine: How BoP is Measured; Debits and Credits
Notes: Figure 23.1 New Zealand's BoP Accounts
Examine: The "Current Account"
Examine: The "Capital Account"
Examine: The "Financial Account"

Friday February 26, 2016
Chapter 23: The Balance of Payments
Read & Discuss: 23.4 Current Accounts Deficits pages 491-492
Discuss: Effect of a Current Account Deficit on the Exchange Rate
Read & Discuss: 23.5 Current Account Surpluses pages 501-503
Discuss: Effect of a Current Account Surplus on the Exchange Rate
Evaluate: The Global Trade Imbalance
Review Case Study: BoP Surplus Hit Sept. Quarter on Rising Spend Abroad

Homework Assignment: Week #24

Monday February 22, 2016
Exercises #5 a & b, 6 and 7 on page 463
Exercises #8 a & b, 9 and 10 on page 465
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Tuesday February 23, 2016
Practice Questions #1 a, b, c & d on page 507

Continue News Article Research for Internal Assessment #3 on Unit 3 International

Economics

Wednesday February 24, 2016
Practice Questions #2 a (i & ii), b & d on page 508
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Thursday February 25, 2016
Read Case Study: Exercises #2,3 & 4 on page 506
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics

Friday February 26, 2016
Continue News Article Research for Internal Assessment #3 on Unit 3 International
Economics
Rough Draft Due February 26, 2016