Describe the different levels of regional economic integration. Understand the economic and political arguments for regional economic integration.

Management question

• Describe the different levels of regional economic integration.
• Understand the economic and political arguments for regional economic integration.
• Explain the history, current scope, and future prospects of the world’s most important regional economic agreements.
• Describe the functions of the foreign exchange market.
• Understand what is meant by spot exchange rates.
• Recognize the role that forward exchange rates play in insuring against foreign exchange risk
• Maximum word limit: 250 words.