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What is the role of foreign exchange market in international business? Define fixed and flexible exchange rate regime. Explain in detail the advantages of each regime.

What was the arrangement of nominal exchange rate under Bretton Woods System? How did it expect to manage the bank run? Was it successful?

What is real exchange rate? Show how real exchange rate depreciation of a country's currency can promote CA surplus?

What have been the historical roles of IMF, World Bank and WTO? Are these roles changing over time?

What is welfare state? What are the main policy dilemmas for welfare state? Has globalization limited the role of a nation in terms of choosing independent policies? Are national governments withering away?

What is public debt and what are its implications?

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