IMS 3310 Final Exam Study Guide 2023 with complete solution
New Institutional Theory ✔Ans✔ - Understanding of institutions that sees them as social constructs, a collection of norms that structure the relations of i
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IMS 3310 Final Exam Study Guide 2023 with complete solution
New Institutional Theory ✔Ans✔ - Understanding of institutions that sees them as social constructs, a collection of norms that structure the relations of individuals to one another
Formal Institutions ✔Ans✔ - Institutions that influence behavior through laws and regulations
Informal Institutions ✔Ans✔ - Institutions that influence behavior through norms, values, customs, and ideologies
Normative Informal Institutions ✔Ans✔ - Include those organizations that establish standards and propagate principles (the UN, NGOs, social groups)
Cognitive Informal Institutions ✔Ans✔ - Collections of shared ideas that define reality by means of conceptual frameworks or schema.
- Often neither explicit or tangible
United Nations (UN) ✔Ans✔ - 193 member organization of countries dedicated to the promotion of peace and stability of the world
General Assembly (UN) ✔Ans✔ - Deliberative body of the UN made up of all member nations, each with one vote regardless of size, wealth, or power
Security Council (UN) ✔Ans✔ - Main peacekeeping body of the UN, composed of 15 members including 5 permanent members
Economic and Social Council (ECOSOC) ✔Ans✔ - UN body concerned with economic and social issues such as trade, development, education, and human rights
International Court of Justice (ICJ) ✔Ans✔ - UN body that makes legal decisions involving disputes between national governments
Secretariat ✔Ans✔ - The staff of the UN, headed by the secretary-general
Bretton Woods ✔Ans✔ - 1944 conference at which Allied nations' treasury and central bank representatives met to establish the International Monetary Fund and the World Bank
International Monetary Fund (IMF) ✔Ans✔ - Institution that fosters global monetary cooperation, financial stability, international trade, high employment and sustainable economic growth, and reduction of poverty
World Bank ✔Ans✔ - Institution that lends money for development projects focused on reducing poverty
Special Drawing Right (SDR) ✔Ans✔ - An international reserve asset established by the IMF
- Value linked to basket of currencies, not a claim on IMF but on members' currencies
- Quotas are contributing of members and they form the pool for IMF lending
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