7. Which two basic concepts do we consider when examining institutions? Please explain briefly. 8. What is the Bretton Woods system? How did it affect the American economy in the early days? When did it end? What are the positive and negative aspects of this system? With which event do we explain the end of the system? Explain briefly? 9. What year and event does the post-Bretton Woods era begin with? In this new period, briefly discuss the IMF and the World Bank in terms of legitimacy, efficiency and reliability. Emphasize the importance of institutions' legitimacy status in this analysis. 10. List the main partners of international capital markets? Briefly explain the function of each. 11. Why was offshore banking created in the first place? What are its functions? What are the types? Please explain briefly. 12. Give information about Basel applications. What are their aims? 13. How is Fiat currency created in the monetary system we are in? Explain briefly