Answer all of the following questions. Each answer should be at least 250 words.

1. What are the three waves of globalization and discuss the uniqueness of the third wave?

2. In the past, there have been many who have criticized the IMF for not handling their responsibility of appropriately assisting countries in economic/financial crisis. List and discuss three criticisms of the IMF.

3. There has been considerable debate about the appropriateness of a currency monetary union between Canada and the United States, much like we currently have in Europe. What are some of the advantages and disadvantages of entering into such a union?

4. There has been considerable debate as to whether the global economy should have a set of rules governing international investment since it already has a set of rules governing international trade. List and discuss the advantages and disadvantages of implementing a set of global rules governing MNC investment

5. According to the Economist articles, is globalization leading to greater or less income inequality. What are the factors affecting income inequality?

6. What is the "social contract" and what are the three pillars of a social contract? How does the social contract relate to globalization and to attracting FDI?

7. Discuss the details behind the Mexican and Russian crisis. How were they similar and how were they different? Compare the intervention of the IMF in both of these situations.

8. Discuss the difference between the Fisher Effect and the International Fisher Effect.