lesson 3 Regional Economic Integration.ppt

Regional Economic Integration Lesson 3 Background knowledge Economic integration is a term used to describe how different aspects between economies are integrated. The degree of economic integration can be categorized into six stages: Preferential trading area Free trade area Customs union Common market Economic and monetary union Complete economic integration Economic integration also tends to precede political integration. Economic union Supplementary material A Preferential Trade Area is a trading bloc which gives preferential access to certain products from the participating countries. This is done by reducing tariffs, but not by abolishing them completely. Objectives to know the purpose of regional economic integration to master the features of the four types: free trade area, customs union, common market, economic union to get a general idea about the European Union, APEC and OPEC to master related expressions and terms to apply the knowledge in this book to a case study Key points in the lesson: knowledge of business major objectives of regional integration four levels of regional economic integration free trade area customs union common market economic union European Union (EU) Asia-Pacific Economic Cooperation (APEC) Organization of Petroleum Exporting Countries (OPEC) Read the passage quickly and find out the key words for each paragraph Homework for everyone Write a memo based on the debate which is about “advantages” or “disadvantages” in regional economic integration. You can pick one side. Write a memo and hand it in before the holiday. Memory Check: Key expressions and terms economic integration trade liberalization free trade area quota restriction tariff rates customs union NAFTA common market economic union euro taxation 经济一体化 贸易自由化 自由贸易区 配额限制 关税税率 关税同盟 北美自由贸易协定 共同市场 经济联盟 欧元 税收 Key expressions and terms national sovereignty autonomy sovereign states political entity/union the EU harmony/ harmonization landmark/ milestone signatory ba