AP Comp Unit 5

The growing interconnectedness of the world economies with actions unconstrained by political borders and characterized by a reduction in state control over economies.

• Privatization

• Economic Globalization

• Import Substitution Industrialization (ISI)

• International Organization

Organizations made up of states cooperating to achieve common goals, such as the United Nations, the IMF (International Monetary Fund) and the World Bank.

• Structural Adjustment Programs

• Tariffs

• Neoliberal Economic Reform

• International (Intergovernmental) organization

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information is the...

• Multiculturalism

• International Trade

• Globalization

• Ecommerce

Organizations make up of states where the organization has authority super ceding the authority of member states, such as the United Nations and the WTO (World Trade Organization) and ECOWAS (Economic Community of West African Sates)

• Special Economic Zones (SEZs)

• Supranational Organization

• Structural Adjustment Program

• Tariffs

companies with operations in more than one country that can pose challenges to domestic policies regarding labor, environment, land rights, taxation and budget.

• Multinational Corporations (MNC)

• Subsidies

• Neoliberal Economic Reform

• Resource Curse

Economic policies that support free trade, privatization, and a reduction of government control over the economy

• Subsidies

• Multinational Corporations (MNCs)

• Neoliberal Economic Reform

• Special Economic Zones

Economic policies aimed at reducing foreign dependence by raising tariffs and encouraging local production of industrialized products

• International Monetary Fund (IMF)

• Economic Diversification

• Neoliberal Economic Reform

• Import Substitution Industrialization (ISI)

Economic policies where the government takes over major industries, becoming the owner

• International Monetary Fund (IMF)

• Structural Adjustment Programs

• Nationalization

• Economic Globalization

What is the purpose of IMF?

• works to build better policies for better lives

• to promote financial stability, solve and prevent profitable crisis, motivate growth, and relieve poverty.

• developing countries to reduce poverty and increase shared prosperity

• promotes peace, it's values and the well-being of its citizens