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IB Syllabus Requirements: Trade problems facing many economically less developed countries
• With reference to specific examples, explain how the following factors are barriers to development for economically less developed countries.
a. Over-specialization on a narrow range of products
b. Price volatility of primary products
c. Inability to access international markets
HL Requirement:
• With reference to specific examples, evaluate the following factor as a barrier to development for economically less developed countries.
a. Long-term changes in the terms of trade
Trade strategies for economic growth and economic development
• With reference to specific examples, evaluate each of the following as a means of achieving economic growth and economic development.
a. Import substitution
b. Export promotion
c. Trade liberalization
d. The role of the WTO
e. Bilateral and regional preferential trade agreements
f. Diversification
Trade and Development Review Videos:
Policies to Promote Trade and Development:
Policies to Promote Trade and Development:
The WTO, IMF and World Bank:
“Global Economics: Global Exchange: Free Trade and Protectionism” (30 minute video - covers free trade vs. protectionism, but focuses on LDCs).
“Global Economics: Global Exchange: Free Trade and Protectionism” (30 minute video - covers free trade vs. protectionism, but focuses on LDCs).
Case Study: Can the fishing trade prevent Somalis from turning to piracy?
Case Study: Can the fishing trade prevent Somalis from turning to piracy?
Open or Shut?
Open or Shut?
Students to list the advantages and disadvantages of International Trade in helping development (this list should sound a lot like trade’s advantages and disadvantages!).
Students to list the advantages and disadvantages of International Trade in helping development (this list should sound a lot like trade’s advantages and disadvantages!).
Current Events: Find an example of international trade in the LDC of your choice. To what extent has it been helpful for the country (OR if it hasn't changed or not enough time has passed predict what you think will happen)
Current Events: Find an example of international trade in the LDC of your choice. To what extent has it been helpful for the country (OR if it hasn't changed or not enough time has passed predict what you think will happen)
Homework: Read pp 574-588 and make sure you can complete the syllabus tasks listed at the top of the page.
Homework: Read pp 574-588 and make sure you can complete the syllabus tasks listed at the top of the page.
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