students must define and explain the significance of each term in the context of international relations, using examples where appropriate.

1. comparative advantage
2. trade barriers
3. tariff
4. quota
5. non-tariff barrier
6. factor model
7. sector model
8. reciprocity
9. most-favored nation
10. World Trade Organization
11. regional trade agreements
12. foreign direct investment
13. multinational corporation
14. World Bank
15. International Monetary Fund
16. austerity
17. bilateral investment treaty
18. floating exchange rate
19. fixed exchange rate
20. appreciating/depreciating
21. gold standard
22. Bretton Woods monetary system