Theme 4 Topics

• 4.1 International Economics

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  Globalisation, trade, terms of trade, trading blocs, WTO

  • 4.1.1 Globalisation
  • 4.1.2 Specialisation and Trade
  • 4.1.3 Pattern of Trade
  • 4.1.4 Terms of Trade
  • 4.1.5 Trading Blocs and the World Trade Organisation (WTO)
  • 4.1.6 Restrictions of Free Trade
  • 4.1.7 Balance of Payments
  • 4.1.8 Exchange Rates
  • 4.1.9 International Competitiveness

• 4.2 Poverty and Inequality

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  Absolute/relative poverty, inequality measures, policies

  • 4.2.1 Absolute & Relative Poverty
  • 4.2.2 Inequality

• 4.3 Emerging and Developing Economies

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  Characteristics, growth strategies, role of financial sector

  • 4.3.1 Measures of Development
  • 4.3.2 Factors Influencing Growth and Development
  • 4.3.3 Strategies Influencing Growth and Development

• 4.4 The Financial Sector

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  Role of financial markets, market failure, regulation

  • 4.4.1 Role of Financial Markets
  • 4.4.2 Market Failure in the Financial Sector
  • 4.4.3 Role of Central Banks

• 4.5 Role of the State in the Macroeconomy

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  Public expenditure, taxation, macroeconomic policies

  • 4.5.1 Public Expenditure
  • 4.5.2 Taxation
  • 4.5.3 Public Sector Finances
  • 4.5.4 Macroeconomic Policies in a Global Context