International Economics - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

View larger version of the mind map.

• Reasons for Trade
  • Access to different goods
  • Potential for economies of scale
  • Increases competition
  • Generates economic growth
  • Adds global value
  • Social and cultural benefits
  • Factor Endowments
• Exchange Rates
  • Imports - S £
  • Exports - D £
  • Speculation
  • Differences in interest rates
  • Fixed Exchange Rates
  • Floating Exchange Rates
  • Managed Floating
  • Appreciation (Rise in £)
  • Depreciation (Fall in £)
• Comparative Advantage
  • Specialisation
  • Different Opportunity Cost Ratios
• Balance of Payments
  • Trade in Goods
  • Trade in Services
  • Income
  • Current Transfers
  • (Current Account)
  • Transfers of assets and liabilities
  • (Capital Account)
• Absolute Advantage