International Trade Theories, WTO, and Exchange Rate Mechanisms
Factor Endowment Theory of International Trade
The Factor Endowment Theory, also known as the Heckscher–Ohlin Theory, explains the basis of international trade in terms of differences in factor endowments among countries. According to this theory, countries differ in the availability of factors of production such as land, labor, and capital, and these differences give rise to international trade.
The theory states that a country will export goods that use its abundant factors intensively and import
Read MoreSports Journalism: Professional Values and Ethical Challenges
Part I – Intrinsic and Extrinsic Value of My Chosen Profession
My chosen profession is to become a sports journalist and reporter. I am especially inspired by figures such as Sara Carbonero, who represent professionalism, sensitivity, and credibility in sports media. Journalism is not just a job where you communicate information; it is a profession that shapes opinions, influences society, and builds trust between the media and the public. For this reason, reflecting on the intrinsic and extrinsic
Read MoreNew Institutional Economics: Core Concepts and Applications
Chapter 1: New Institutional Economics Fundamentals
(1) New Institutional Economics (NIE) defines institutions as the “rules of the game” in a society that create the framework for human interaction.
(2) These institutions, which include formal rules (written laws) and informal norms (social codes), exist to reduce uncertainty and lower transaction costs by making human behavior predictable.
(3) The “golden triangle” or conceptual trunk of NIE consists of three core concepts: transaction costs (costs
Read MoreStrategic Management Frameworks and Core Concepts
Module 1: Strategy and Business Models
| Concept | Key Definition | Levels & Frameworks |
| Strategy | The long-term direction of an organization to achieve Competitive Advantage (doing things differently). | 3 Levels: 1. Corporate (Scope). 2. Business (How to compete). 3. Functional (Execution). |
| Strategy Statement | Vision (The Future), Values (Core principles that do not change), Objectives (Specific targets). | 3 Steps: Understand to Decide to Execute. |
| Business Model | Explains how a firm creates, delivers, and captures |
EU Transformation: Financial Crises, Brexit, and Policy Responses
Major Crises and Policy Shifts in the European Union
The Great Financial Crisis of 2008
The Great Financial Crisis of 2008 exposed deep structural flaws in the European and global financial systems. These flaws were rooted in decades of financial deregulation, excessive risk-taking, and weak supervision. Within the Eurozone, the combination of full capital mobility, centralized monetary policy under the ECB, and nationally regulated banking systems created major imbalances, resulting in capital flowing
Read MoreThe Future of Beekeeping: Trends, Challenges, and Profit
The Beekeeping Industry: Growth and Transformation
The beekeeping industry is experiencing significant growth and transformation, driven by increasing demand for honey and other bee products, advancements in technology, and growing awareness of the importance of pollinators. Here is a snapshot of the present and future of the industry.
Current Industry Trends
- Sustainable Beekeeping: Beekeepers are adopting sustainable practices, such as using natural methods for pest control and habitat enhancement,