Summary Economics: Balance Payment, Integration, and Exchange Rates Analysis

Economics notes for Balance Payment - includes definition - components of balance payments with explanation - causes and advantages and disadvantage for current account surplus and current account deficit - two ways government solve current account deficit - explanation marshall lerner condition and j-curve Economics notes for Economic Integration - clearly define 6 stages of economic integration - provide advantage and disadvantage - example given for each stages - advantages and disadvantages of being member of trading bloc - explanation on trade creation diversion - explanation on roles of WTO, its aim, function and limitation Economic Notes on Exchange Rate - Definition of Exchange Rates - Detailed explanation on fixed exchange rate (definition, advantages, disadvantages, DIAGRAM to ease understanding) - Detailed explanation on floating exchange rate (definition, advantages and disadvantages, why people supply and demand currency) - detailed explanation on managed exchanged rates (definition, advantages and disadvantages, also why government intervene in currency market) - also talk about how government intervene ** Each topic is in compacted into one page, everything included for your knowledge to pass exam/quiz/test regarding these three topics.**