The Basics of Foreign Trade and Exchange - Economic Education - Federal Reserve Bank...

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The Basics of Foreign Trade and Exchange 1. Growing Trade, Shrinking World 1. What is international trade? 2. World Trade is Diverse 3. Trade: Important for Economic Well Being 4. Trade: Why Do It 2. Benefits of Trade 1. Specialization and its Benefits 2. Law of Comparative Advantage 3. Benefits of Diversity 4. Competitiveness 5. Economies of Scale 6. Knowledge-intensive Products Contribute to the U.S. Boom 3. Free Trade Vs. Protectionism 1. Arguments for Protection 2. Methods of Protection 3. Arguments for Free Trade 4. Measures of Trade 5. Statistics Can Have Different Interpretations 4. Foreign Currency Exchange 1. Foreign Exchange Market: What is it? 2. Foreign Exchange Market Participants 3. Foreign Exchange Rates 4. Determination of Foreign Exchange Rates 5. Foreign Currency Trading 6. Types of Transactions 7. Floating and Fixed Exchange Rates 5. Role of Central Banks 1. Intervention 2. Concerns About Eurocurrency 6. Working Across Borders 7. International Organizations and Trade Issues 8. Useful Web Links