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O/L Unit 8: International aspects

Topic #
Topic
Outcome
8.1
Specialisation
• Describe the benefits of specialisation at regional
levels
• Describe the disadvantages of specialisation at regional levels
• Describe the benefits of specialisation at national levels
• Describe the disadvantages of specialisation at national levels
8.2
The balance of payments
• Describe the structure of the current account of the balance of payments
• Discuss the causes of current account deficits and surpluses
• Discuss the consequences of current account deficits and surpluses
8.3
Exchange Rates
Define exchange rates
8.4
Exchange rate fluctuations
• Discuss the causes of exchange rate fluctuations
• Discuss the consequences of exchange rate fluctuations
8.5
Protection
Describe methods of trade protection
8.6
Free trade and protection
• Discuss the merits of free trade
• Discuss the merits of protection

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