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  • TRADE and BoP Tasks

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    Katerina Tsaloumi
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    The document discusses international trade and globalization. It provides questions about the UK's major trade partners and the value of UK trade. It also lists benefits and costs of free trade and globalization. Additional sections cover the UK's balance of payments, including the current account balance. Specific exports, imports and balances are given for visible and invisible goods and services. The document concludes with questions about exchange rates, including the exchange rate of the pound to the euro and dollar, and how a pound depreciation would affect the UK economy and current account balance.

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    AS Topic 2 Macroeconomics

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    The document discusses international trade and globalization. It provides questions about the UK's major trade partners and the value of UK trade. It also lists benefits and costs of free trade and globalization. Additional sections cover the UK's balance of payments, including the current account balance. Specific exports, imports and balances are given for visible and invisible goods and services. The document concludes with questions about exchange rates, including the exchange rate of the pound to the euro and dollar, and how a pound depreciation would affect the UK economy and current account balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    12 views4 pages

    TRADE and BoP Tasks

    Uploaded by

    Katerina Tsaloumi
    The document discusses international trade and globalization. It provides questions about the UK's major trade partners and the value of UK trade. It also lists benefits and costs of free trade and globalization. Additional sections cover the UK's balance of payments, including the current account balance. Specific exports, imports and balances are given for visible and invisible goods and services. The document concludes with questions about exchange rates, including the exchange rate of the pound to the euro and dollar, and how a pound depreciation would affect the UK economy and current account balance.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    INTERNATIONAL TRADE AND GLOBALISATION

    1. a.What is trade? b. What is globalisation?

    2. Research the UK’s Trade partners.


    Who are the UK’s trade partners?

    Who are the main Export partners?

    Who are the main Import partners?

    What products do they trade?

    What is the value of the UK trade?

    What is the EU and the UK Trade volumes?

    What trade deals has the UK made for after Brexit?

    3. List 3 benefits and 3 costs of International Free Trade and


    Globalisation.
    Balance of Payments-accounts

    1. What is the Balance of Payments?

    2. What is the Current/trade Account?

    3. What is a FinancialAccount?

    4. Give 3 examples of items in the visible account

    5. Give 3 examples of items in the invisible account

    Compare the current/trade accounts below:


    6.
    7. Research the U.K. Trade balance now. What is the situation?

    8. Calculate the overall UK current or trade account balance:

    Visible account/goods
    Exports 306 765
    Imports 419 364
    Balance ?
    Invisible account/services
    Exports 209 127
    Imports 130 261
    Balance ?
    Investment Income
    Credits 157 675
    Debits 172 632
    Balance ?
    Transfer Income
    Credits 19 296
    Debits 46 458
    Balance ?
    UK Current Account Balance ?

    9. What is a deficit in the current/trade account?

    10. What each of the above deficits/surpluses mean?


    Exchange Rates

    Do you know your currencies?

    Name the currency of these countries:


    1. Singapore
    2. Denmark
    3. India
    4. Italy
    5. South Korea
    6. Vietnam
    7. Which of these countries does not use the ‘dollar’ as its currency:
    Zimbabwe, Hong Kong, Australia, Barbados or Chile?
    8. Which country does not use the ‘peso’ as its currency: Argentina,
    Brazil, Columbia,Mexico or Philippines?
    9. Which country does not use the ‘pound’ as its currency: Egypt, Syria,
    Lebanon, Gibraltar or Nigeria?

    1. What is the Exchange rate of the pound to the euro and the
    dollar now? How has this changed last year?

    2. How will a depreciation of the pound benefit the U.K.


    Economy? How will the current/trade account be affected?

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