Study for Quiz 4

Key Ideas to Study for Quiz

The quiz consists of 35 points. There are 17 multiple choice questions and 2 sets of matching (pick from a list of 2 descriptors for 10 and 8 items).

Key Questions to study (in no particular priority or order):

  1. Natural resource trap (Collier)
  2. Four development traps identified by Collier.
  3. Maddison’s history of African development (or lack thereof):
  1. Europeans and disease
  2. lack of property rights – causes and effects
  3. nomadic farming
  • How exchange rate changes can create a “Debt bomb” and it’s consequences
  • Nature and dynamic of an exchange rate/ “currency crisis” and it’s consequences
  • What prescriptions to help Africa’s poorest would Collier, Sachs, and Moyo recommend
  • Which countries experienced currency and debt crises in the 1990’s (according to Commanding Heights)
  • What was Long-Term Capital Management?
  • Who supports Structural adjustment and “Globalization”? Who is opposed?
  • Who are the “bottom billion”? How much do they live on?
  • How much of the world lives on $10 or less?
  • What is typically included in a structural adjustment program?
  • Important terms:

    • bottom billion
    • structural adjustment
    • IMF / World Bank / WTO
    • Asian Contagion
    • multi-national corporation
    • privatization
    • free trade
    • capital markets

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