International Economics

August 4, 2015

FEU Prayer
Direct, O God, we beseech You.
All our actions by your holy
inspiration
and help us all by your gracious
assistance
so that every prayer and work of
ours
may begin with You
and by You be happily ended. Amen.

Current International Economic

Problems and Challenges
1. Slow Growth and High
Unemployment in Advanced
Economies after the Great
Recession
2. Trade Protectionism in Advanced
Countries in a Rapidly Globalizing
World
3. Excessive Fluctuations and
Misalignment in Exchange Rates

Current International Economic

Problems and Challenges
4. Structural Imbalances in Advance
Economies and Insufficient
Restructuring in Transition
Economies
5. Deep Poverty in Many Developing
Countries
6. Resource Scarcity, Environmental
Degradation, Climate Change, and
Sustainable Development

International Institutions and

the World Economy
1. World Trade Organization (WTO)
The Geneva-based international
organization to which most nations of the
world belong with authority over international
trade in goods and services. Specifically, it
deals with the rules of trade between nations
negotiates and implements new trade
agreements, adjudicates (i.e. rules) over trade
disputes among its members, and is in
charges of policing member countries
adherence to all the WTO agreements.

International Institutions and

the World Economy
2. World Bank --

The internationally
supported bank established after bank
established after WW II that provides
loans to developing countries for
development programs (e.g., bridges,
roads, schools) with the stated goal of
reducing poverty.

International Institutions and

the World Economy
3. International Monetary
Fund The Washington, D.C.
headquartered international
organization that oversees that member
nations follow a set of agreed-upon rules
of conduct in international finance and
provides borrowing facilities for nations
with temporary balance of payments
difficulties.

International Institutions and

the World Economy
4. United Nations (UN)

The 192
member international organization with
headquarters in New York City whose
stated aims are to facilitate cooperation
in international law, international
security, economic development, social
progress, and human rights issues.