Edexcel (IAL) A2 Economics Unit 4

Unit 4 Developments in the Global Economy


4.3.1 Causes and effects of globalisation

  • Causes of globalisation
  • Effects of globalisation

4.3.2 Trade and the world economy

  • Specialisation and comparative advantage
  • Patterns of trade
  • Terms of trade
  • Trade liberalisation
  • Restrictions on free trade

4.3.3 Balance of payments and exchange rates

  • Balance of Payments
  • Exchange rates

4.3.4 Poverty and inequality

  • Absolute and relative poverty
  • Inequality

4.3.5 The role of the state in the macroeconomy

  • Public expenditure
  • Taxation
  • Public sector borrowing and public sector debt
  • Macroeconomic Policies

4.3.6 Measures to promote growth and development

  • Market orientated strategies
  • Government-led strategies
  • Other strategies
  • Role of foreign governments and international institutions and non-governmental organisations (NGOs)
  • Constraints on growth and development

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