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How (on what basis) are nations classified as high income, middle income and low-income nations? Provide some examples.

* Which activities define international trade. Briefly explain each in your own words.

* What is FDI? How does it differ from FPI? Provide an example of each.

* How can companies minimize damage arising from international disputes (with customers, partners, governments, vendors etc.)? What are the key considerations in international dispute resolution?

* What is the difference between nationalization and privatization? Which is better for trade?

* What the difference between macro & micro political risk? Between confiscation and expropriation?

* What is the difference between high context and low context cultures? What is the difference in communicating in these cultures when marketing a good?

* How does power, uncertainty, social orientation differ in explaining cultural differences in Hofstede’s dimensions. Do you see any relationships between Hofstede’s 5 dimensions?

* What are cultural clusters? On what basis are the nations clustered?

* Ethics

o What are the different approaches to social responsibility? Provide an example of each.

* How does mercantilism differ from theories of absolute and comparative advantage? What is neo-mercantilism?

* What are opportunity costs – how does it define comparative advantage?

* What are transaction costs in international trade? Which trade theory recommends an approach to reduce these costs? What does the theory suggest?

* How does internalization theory differ from new trade theory?

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