International Institutions

Trade and Finance

Designed by I. Pérez & Ágota Mastres

 Credits to: Deborah Robson


Why do nations trade with each other?

 

A. Introduction

Today international trade and International financial transactions are vital to almost every country. One of the main reason to trade with each other is availability of resources.

e.g. Spain exports mainly fruits and vegetable and imports fuel.

 

 

1. Can you think of any other reasons to trade?

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2. What does Hungary export and import?

 

You may visit the links and see what you can find to help answer this question

FITA

MSN Encarta

 

 

 B. Talking about international institutions

 

We have to distinguish two dimensions:

 

International trade, that is, exports and imports of goods and services and international financial transactions

 

International trade issues are mainly handled by the World Trade Organization (WTO) and other regional institutions like NAFTA, EFTA, etc.

 

As to the world economy the World Bank Group controls most of the major transactions.

 

1. Following, there is a list of trade and finance institutions. Find out the meaning of them by searching for the words in this crossword.

Click here if you think you need to see the words or once you think you have the answers to check the solutions. 

NAFTA, EFTA, CARICOM, OECD, CEFTA, IMF, IDA WTO, ECOWAS

 

2. Now, read the text in your book or check some of the following links; then, situate each of the Regional Institutions in the corresponding area in the map below. 

 NAFTA, APEC, ECOWAS, EFTA, OUA, MERCOSUR, OECD, CARICOM, WTO, IDA, World Bank, IMF

 

 

  

picture taken from the ppt by Dr. A. Sybandry, where you can get more information about international trade institutions.

3.  Do this exercise to revise some vocabulary

 

4. Go through the text and web sites again to complete the table you find by clicking on this document.

 NAFTA, APEC, ECOWAS, EFTA, OUA, MERCOSUR, OECD, CARICOM, WTO, IDA, World Bank, IMF

 

 

 C. Revision

1. Let's see if you can remember the main facts. Without looking at your books, notes or web sites you have to complete the statements with the name of one of the institutions studied previously:

Click here to do the interactive exercise.

 

D. Learn more (optional)

1.  Watch one or both videos of an interview with  the journalist Sebastian Mallaby

The future of the World Bank

Why is the World Bank so controversial?

Click on this exercise and check if the staments are true or false.

Then write 4 or 6 sentences summarising the information you understood about the world bank future or controversies.

2.  Go back to the web sites you used before, choose one particular institution to analyse it deeply, then prepare a short presentation on it. Include some dates and facts, main aims and achievements, some important names along the history of the instition, role in the present situation, etc.

All the links can be found in the following site:

 http://del.icio.us/economy_english