Explain and discuss of the following. You may also give examples of each to support your explanation.

1. Keynesianism 2. Hayek and Friedman's Economics 3. Conflict in the Middle East OPEC's 1970's Oil Emba 4. Washington Consensus 5. The Cause-and-Effect of 2008 Financial Crisis 6. The difference of MNCs and TNCs 7. Brain Drain 8. Race to BottomStudy the following concepts and developments in Economic globalization: 1. Mercantilism 2. The Silk Road in International Trading System 3. The Manila Acapulco Trade and Economic Globalization 4. Gold Standard 5. History of Paper Money and Fiat Currency 6. The Great Depression: Causes and Repercussions 7. The Bretton Woods Monetary System 8. The Functions of World Bank and International Monetary Fund