Explain the history, current scope, and future prospects of the world’s most important regional economic agreements.

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