Economics902

The Mundell–Fleming model, also known as the IS-LM-BoP model, is an economic model first set forth by Robert Mundell and Marcus Fleming. The model is an extension of the IS–LM model. Whereas the traditional IS-LM model deals with economy under autarky, the Mundell–Fleming model describes a small open economy.

The World Trade Organization is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System

The International Monetary Fund (IMF) works to achieve sustainable growth and prosperity for all of its 190 member countries. To achieve this goal, the World Bank issues loans and grants to low- and middle-income countries that it classifies as developing countries.

The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel.

The offer curve of a nation, also called the reciprocal demand curve, shows at each relative price the quantity supplied of exports and the quantity demanded for imports.

The terms of trade is the relative price of exports in terms of imports and is defined as the ratio of export prices to import prices. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods.

The key theories of exchange rates include Purchasing Power Parity (PPP), Interest Rate Parity (IRP), International Fisher Effect (IFE), and Balance of Payment Theory (BOP).

A trade barrier refers to any regulation or policy that restricts international trade, especially tariffs, quotas, licences etc.

In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro.

Causes of Disequilibrium in BoP The disequilibrium can be corrected using policies like currency devaluation, trade policy measures, exchange control and demand management. These policies aim at promoting exports, reducing imports and controlling foreign capital flows. However, these policies also have their costs and limitations.

In international economics, the balance of payments of a country is the difference between all money flowing into the country in a particular period of time and the outflow of money to the rest of the world. In other words, it is economic transactions between countries during a period of time. OR The balance of payments is how a country tracks how much money is coming in and going out.

The Stolper–Samuelson theorem is a basic theorem in Heckscher–Ohlin trade theory. It describes the relationship between relative prices of output and relative factor returns—specifically, real wages and real returns to capital.

Leontief's paradox in economics is that a country with a higher capital per worker has a lower capital/labor ratio in exports than in imports. This econometric finding was the result of Wassily W. Leontief's attempt to test the Heckscher–Ohlin theory empirically.

The Heckscher-Ohlin model is an economic theory that proposes that countries export what they can most efficiently and plentifully produce.

In this video I am Gonna tell you about The Ricardian Model The following Points we will Cover in Video: 1: Labour required for producing one unit. 2: Assumptions of the Ricardian Model:

The following Points we will Cover in Video: 1: Absolute advantage Theory 2: Example 3: Comparative advantage 4: Assumptions of the Absolute Advantage Theory

Increase in income leads to increase in consumption and this increase in consumption leads to increase in. investment. The cyclic change in an economy are results of interaction of multiplier and accelerator.

Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms

The Phillips curve is an economic model, named after Bill Phillips, that correlates reduced unemployment with increasing wages in an economy. While Phillips did not directly link employment and inflation, this was a trivial deduction from his statistical findings.

what is inflation and its types?

In this video we will cover some important like measures of Money Supply, Money Multiplier, High Powered Money and Factors of Money Supply

The Effectiveness of Fiscal Policy and Monetary Policy

IS LM model (Monetary and Fiscal ) Policies

There are main Objectives of Monetary and Fiscal Policy and their differences. as well as other various types of these policies.

This video is about the basic concept of Fiscal Policy and Monetary Policy