SPECIAL NOTE: THERE WILL BE NO MAKE-UPS, UNLESS NEEDED FOR MEDICAL REASONS. IF A MAKE-UP IS NECESSARY, IT WILL NOT BE GIVEN AFTER THE REGULARLY SCHEDULED TIME OF THE EXAMINATION..

I. Examination Structure

This exam is worth either 40% or 30% of your final grade, depending on how you will do on your second exam. The exam is structured in the following way (the total number of points for each section is indicated between parentheses):

The following list contains many of the terms, concepts, and events we have discussed during the first half of the course. Although I cannot guarantee that this list is comprehensive, if you master the entire list you should do very well on the first midterm exam. Also, don't forget to read the assigned chapters and Roberts' book. Pay special attention to terms in bold in the Cohn's textbook. A good number of questions will be taken from the readings.
 

1980's Debt Crisis	Absolute Advantage
Adam Smith	Analogy
Anarchy	Article XXIV of the GATT
Autarky	Bretton Woods
"Causal Guts"	Charles Kindleberger
Cobden-Chevalier Treaty	Coercion or Punishment
Comparative Advantage	Competitiveness
Crisis of 1873-1896	David Richardo
Dawes Plan	Decision Theory
Distributional Impacts of Tariffs	Dollar/Gold Parity
Domestic Interest Groups and Protectionism	Dominant Strategy
Endogenous Variable	Evolution of the GATT as a Regime
Exogenous Variable	Fair Trade
Fixed Exchange Rate	Floating Exchange Rate
Four Features of Tit-for-Tat	Four Final Points on International Regimes
Free Trade	Krugman's Fictitious Quote
Game Theory	GATT
GATT and Pragmatism	GATT and Trade Liberalization
GATT Multilateralism Norm	GATT Norm of Liberalization
GATT Norm of Nondiscrimination	GATT Reciprocity Norm
GATT Safeguard Norm	GATS
German War Reparation	Hegemonic Stability Theory
Hegemonic Stability Theory and Protectionism	Infant Industry Argument for Protectionism
Influence	Importance of Refrigeration for Trade
Import Substitution	Industrial Revolution
Int'l Bank for Reconstruction and Development	International Business Cycles
International Monetary Fund (IMF)	International Political Economy
International Regimes	International Trade Organization (ITO)
Kennedy Round of the GATT	Laissez-Faire
Lake's Differences bet'n US & UK Hegemony	Lengthening the Shadow of the Future
The "Lost Decade"	Managed Trade
Manchester School	Marshall Plan
Measuring Economic Expansion/Contraction	Measuring Hegemonic Power
Measuring Trade Openness	Mercantilism
Milder or Harsher Prisoner's Dilemma	Monopolies/Guilds
Most-Favored-Nation Clause	Navigation Acts
Neo-classical model of economic change	Nixon Measures (15 August 1971)
Non-Tariff Barriers (NTB)	North's Institutional Model of Economic Change
Oil Crises (1974, 1979)	OPEC
Opportunity Cost	Orderly Marketing Agreement (OMA)
Outcome of Iterated Prisoner's Dilemma	Patents
Payoffs of Prisoner's Dilemma	Permanent Normal Trade Relations
Persuasion	Political Science vs. Economics
Political Science vs. History	Pop Internationalism
Power	Prisoner's Dilemma
Prisoner's Dilemma and Class Experiment	Process Tracing
Production and Export Subsidies	Productivity
Property Rights	Protectionism and Government Revenue
Quotas	Reasons for the use of protectionism
Relationship between wealth and power	Repeal of Corn Laws (1846)
Rewards	Robert Axelrod
RTAA of 1934	Seven Sisters
Seven Ways Regimes can Lead to Cooperation	Smoot-Hawley Tariff Bill of 1930
Specialization	Standard Prisoner's Dilemma
Strategic Industry and Protectionism	Strategies in Game Theory
Tariffs	Threats
Tit-For-Tat	Tokyo Round of the GATT
Transaction Costs	Unfair Trade Practices
Uruguay Round of the GATT	Utility Maximization
Valued-added (High-Value Sectors)	Voluntary Export Restraint (VER)
Why Do People Invent?	World Trade Organization (WTO)