economics

Yay, I have one more exam left and I am done for this semester. Yesterday I had International Economics and it was not easy. We had to define and explain 8 out of 14 terms and answer 3 essay questions!

• NAFTA
• WTO
• the golden square (Interest reate, inflation, budget deficit, national debt)
• the 1985 G-5 Plaza Accord
• Clean Float/Dirty Float
• specific tariff
• tequila crisis
• voluntary export restriction
• peg
• Bretton Woods System
• Devaluation/depreciation
• Mortgage Crisis 2007
• quota
• subsidy

Here is our outline for our presentation in International Economics tomorrow.

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OIL CONCERNS - Outline

A more detailed outline of what we are going to do in our presentation about "Causes for Oil Price Fluctuations".

Production/Reserves
Demand/Consumption

• Oil consumption today versus 10 years ago

Export vs. Import

Influences

• US --> demand --> price increase

• Putin --> oil used as a threatening weapon

• West Africa --> suppression (Angola, Nigeria, )

• OPEC and U.S.

factors influencing oil prices

• technological development

• Canada oil sands --> would only be profitable to refine oil when minimum of $25/barrel

• U.S. oil shale reserves and their exploration

• storage of oil

• Demand (China and India) --> Economical development

What my group chose to do in the international economics course. It is still a little broad and at the very beginning stages:

Topic: "Why do oil prices fluctuate?"

Examples (since 2000):

• 9/11 + Iraq War
• Chavez/ Putin
• 2006 fluctuations

We decided to concentrate on recent events when talking about that.