Financial Crisis High Frequency Trading ( Hft )

Financial markets are intertwined into the lives of everybody today. These markets set prices for food, gas, and various other items that people use often. There are even public cable television channels, such as CNBC, that exclusively cover financial markets. The worlds current financial events such as the US debt crisis, and the Federal Reserves’ quantitative easing have caused a rise in the public’s awareness of the financial markets. One of the most feared events in financial markets is a crash. A crash is a very steep drop in price of all securities in that market. Some recent crash events are the financial crisis of 2008, flash crash of May 2010, and August 2011. Flash crashes are a relatively new phenomenon to the markets, and these recent, unprecedented events have brought controversy to one of the newest forms of trading called High Frequency Trading(HFT). HFT is the act of executing millions of dollars worth of trades at sub second speed according to predictiv e software, or statistical models and algorithms. HFT allows hedge funds, and other types of financial companies the ability to trade in multiple markets faster than ever before. This incredibly broad and super fast ability to trade is one of the main reasons HFT has come under fire as a detrimental form of trading. Some of the controversy that HFT experiences consists of possible involvement in flash crashes and added ï ¿ ¼volatility to the markets, as well as possible manipulation of price. Recently there haveShow MoreRelatedEssay High Frequency Trading1493 Words   |  6 Pages 1.0 High Frequency Trading 1.1 What is High Frequency Trading High frequency trading is a form of automated trading that uses super computers to transact or process mega transaction orders at super fast speed, which are mostly measured in microsecond or milliseconds. ( Investopedia, n.d) with the aim to identify and arbitrage temporary market inefficiencies that are created by the competing interests of market participants (Aldridge,2013) Algorithms, low latency technology, high message ratesRead MoreThe Impact Of Technology In The Capital Market?1024 Words   |  5 PagesAs technology becomes more prevalent in financial markets, regulators and investors are faced with new challenges that offer opportunities to shape capital market structure for years to come. The introduction of high-frequency trading has introduced new systems to financial markets, allowing for new and unique ways for firms to achieve profits. These trading firms develop algorithms with the purpose of exploiting developing trends and mispricings. Algorithmic traders found a niche in the capitalRead MoreHigh Frequency Trading ( Hft )862 Words   |  4 PagesHigh-Frequency Trading (HFT) are powerful computers that transmit a large number of orders at fast speeds. It uses sophisticated algorithms to assess multiple markets by executing orders based on market conditions to achieve the best possible price. In addition to this, it might split the orders into smaller pieces and run at different times. In particular, traders that have the fastest execution speed tend to be more profitable than traders with a slower execution speed. According to NASDAQ, ItRead MoreHigh Frequency Trading Should Be Eliminated From The Financial Markets3595 Words   |  15 PagesMrs. Gowanlock Human Rights Semester 2 May, 20h, 2015 High Frequency Trading- Like Taking Candy From a Baby Investing in the securities market seems like a good idea until one day you’ve lost all your money and you’re hitting your head against the wall wondering where you went wrong while High Frequency Trading firms are racking up profits by shorting the stocks you thought were going to go up. The contention behind High Frequency Trading arises from the idea that since the individuals and companiesRead MoreA Sound Information Technology For A Business Organization s Operational And Financial Success1690 Words   |  7 PagesInformation Technology (IT) infrastructure can be critical to a business organization’s operational and financial success. A problem, or â€Å"glitch,† in a firm’s IT infrastructure can cripple an organization and cause severe long-term issues. Examples of such can be seen by examining the case of Knight Capital, the 2010 Dow Jones â€Å"Flash Crash,† and the use of High-Frequency Trading (HFT) on Wall Street. HFT has been in use since the late 1700’s, although not in the form that we are familiar with today. Read MoreIpo And Secondary Stock Market1484 Words   |  6 Pagesmethod for investors to know the value of stock is PEG ratio.The price/earnings to growth (PEG) ratio is used to determine a stock s value while taking the company s earnings growth into account and if stock is undervalued or overvalued. While a high P/E ratio may make a stock look like a good investment, factoring in the company s growth rate to get the stock s PEG ratio can tell a different story. The PEG ratio that indicates an over or underpriced stock varies by industry and by company typeRead MoreKeeping A Permanent Loss Of Capital842 Words   |  4 Pagesnot want to be a impetus investor at a value time horizon. Fourth, Whodunit?, he refers to two events, (1) a real estate/credit bubble in prices that, upon bursting, precipitated (2) a massive financial crisis. The collapse of the real estate/credit bubbl e did not have to lead directly to the financial crisis to say who is to blame for these events. Fifth, I Would Politely Request People Stop Saying These Things, tells that certain words should not be used because it has different meaning like arbitrageRead MoreHow Technology Has Transformed Global Capital Markets Into A Massive, Sentient Trading Network1424 Words   |  6 Pagesnew scientific data-extraction tools has been that â€Å"unlike the commercial world, most scientific data doesn’t have high enough economic value to fuel more rapid development†. No field more explicitly exemplifies the dichotomy than finance, where information is simply a means to profit. Extracting actionable information before competitors can be readily monetized through stock trading, and the pursuit of these informational edge has fueled developments in network technology and data infrastructureRead MoreViolating The Anti Fraud Provisions Of The Federal Securities Laws By Manipulating The Market Via Spoofing1869 Words   |  8 Pagesbeen employed by HFT is quote stuffing. It involves entering and withdrawing enormous orders at a rate which surpasses the bandwidth of exchanges and market feed lines. The orders that they place would be unrealistic in terms of price and would never be fulfilled, for example, an offer to sell for $150 when the current price is at $50. The flood of orders create a delay and increase the lag time for the exchanges to disseminate current price data. The co-location of high-frequency traders serversRead MoreSummary Of We Meet Dan Spivey1880 Words   |  8 PagesIn this chapter, we meet Dan Spivey. Dan is a forty something former trader who stumbled upon the realization that his phone line had as much or more to do with his stock trading as his experience and investment information did. Like most traders, Spivey knew that there were differences in market prices across the various exchanges, particularly those between the Chicago and New York, several times a day with thousands of stocks. If one was fast enough, one could take advantagethe low price of one

Analysis Of The Wash Gotanda - 1851 Words

In The Wash Gotanda proves his ability to understand both the external symptoms of racial oppression and the internal impacts of racism, and how it deeply affects each member of the family. Furthermore, he criticizes the Asian Americans for their roles in deepening the impacts of racism by enduring it without any resistance. He says: Internalized racism is a fact of life. If you live in America, you have been infected by it. By internal I mean how we buy into racism, how we participate in it, and how we engage in a kind of dance of allowing ourselves to be victimized. (Fish Head Soup and Other Play, Intro xxiii) The other issue in which he persists to move beyond the box of ethnicity is speaking openly about older character s sexuality. It is an eye-opening and moving to explore the allegedly stoic Japanese Americans (Xing 134). Gotanda s treatment particularly focuses on the Nisei characters. Kaplan sees that the portrait of sexual behaviour in older characters isn t satirized as ugly at worst or inappropriate at best in American popular culture, which typically reserves depictions of erotic desire for the young accompanying with their physical beauty (77). Nobu Mccarthy – the actress who performed the role of Masi in this play and later in The Wash film- comments on this point saying: Japanese Americans have a stereotyped image that we don t touch each other†¦so we re looked at as asexual, particularly older people†¦But we do have feelings†¦, and

The Roman Way, by Edith Hamilton - 2453 Words

The Author Edith Hamilton was born on August 12, 1867 in Dresden, Germany while her mother was visiting relatives. Hamilton started to study Latin at the age of seven, memorized passages from the Bible and could also recite poetry. Even as a young girl, she was a natural storyteller. She was determined to get a good education. After receiving her B.A. and M.A. from Bryn Mawr College in 1894 she studied the classics in Germany. From 1896 to 1922 she was the headmistress of the Bryn Mawr School in Baltimore. Among some of her works are The Greek Way (1930), The Roman Way (1932), Mythology (1942), and The Echo of Greece (1957). Her books are so revered that Mythology remains the foremost introductory textbook about its subject. The†¦show more content†¦It is in no sense a history of Rome, but an attempt to show what the Romans were as they appear in their great authors, to set forth the combination of qualities they themselves prove are peculiarly Roman, distinguishing them from the rest of antiquity.† (9) I interpret that to mean that you cannot get an accurate reconstruction of history without the personal letters and writings of the day to show us the quality of people of whom we are learning about. The book shows us how the Romans felt about being Roman. The pride that they had in their country. They were Romans first and foremost, and then individuals second. Hamilton tries to convey the fact that even as different as these authors were in their writings, they all shared a common thread. She states that their differences are superficial compared to their resemblances. Evaluation The Roman Way attempts to give us a glimpse into a history previously unseen before by utilizing the writings of several of Rome’s greatest literary minds. I believe that her intention was not to give an accurate and historical recollection of events, but to open our minds to the thoughts and feelings of actual Roman citizens. If you then pair this knowledge with the accurate history of Rome, I feel it is possible to get a deeper understanding of that period of time in history. Edith Hamilton uses the theatre of Plautus and Terence to show the comedic side ofShow MoreRelatedMythology by Edith Hamilton Critical Analysis837 Words   |  4 PagesMythology by Edith Hamilton Edith Hamilton: Mythology is a collection of Greek and Roman myths retold by Edith Hamilton. It is rewritten in a way that more readers could comprehend its content. The book was published in 1999 by Grand Central Publishing in New York, New York. Edith Hamilton believed that Greek myths show how high the ancient Greeks rose above ancient filth and fierceness. However, she also believed that Greek mythology do not throw any clear light upon what early mankind wasRead MoreThe Story Of The Cyclops Polyphemus2438 Words   |  10 PagesCyclops could be to the people at the time because of their gigantic eyes and appetite for humans. Adding to the terror, the are extremely powerful and can easily move boulders and eat Odysseus and his men. Contrary to many of the other stories, Edith Hamilton does not use quotes to describe the story. Instead, she uses many details to describe the cave such as â€Å"racks full of cheese and pails brimming with milk, delightful to the sea-worn traveler. † The dialogue is also interpreted, not directly quotedRead MoreMonsters of Greco-Roman Myth Essay1478 Words   |  6 PagesMonsters of Greco-Roman Myth To have a hero there must be a monster to vanquish. Monsters in Greco-Roman mythology are often portrayed as: irrational, nearly impossible to communicate with, often a compound of animal parts or some form of mutation, and are set upon human destruction. â€Å"Monsters in the language of mythology were beings of unnatural proportions or parts, usually regarded with terror, as possessing immense strength and ferocity, which they employed for the injury and annoyanceRead MoreGreek City States Vs. Modern Greece1244 Words   |  5 Pageshowever, there were different paths to glory. While Spartans focused on the power of the sword, many ancient Greeks believed in the power of the pen. â€Å"Poetry, all the arts, were matters of high seriousness,† writes educator and author Edith Hamilton in The Greek Way 1068. She says that it was poetry that stopped the Spartans from razing Athens and the Acropolis after they invaded the city in 405 B.C.E. During their celebration of their c onquest, â€Å"one of the men charged with the poetical part of theRead More Ahprodite/Venus Essay472 Words   |  2 PagesAphrodite is the Greek name for the goddess of love and beauty. Roman mythology refers to her as Venus. She charmed gods and men and  ¡Ã‚ §stole away even the wits from the wise ¡Ã‚ ¨ (Hamilton 32). Different stories describe how Aphrodite was created in two different ways. The first tells that she was created from the foam of the Mediterranean Sea and dressed upon her birth by the Seasons before being presented to Zeus. In the Iliad, Aphrodite was the daughter of Zeus and Dione. Zeus married AphroditeRead MoreHow Child Abuse Affects a Hero, a God, and a Monster in Greek Mythology811 Words   |  4 Pagesthroughout his childhood and into adulthood. Heracles’ prime abuser was his stepmother, Hera. Hera shows the classic signs of blaming children for the mistakes of their parents and for the situation they were born into. Hamilton states that Hera is so jealous of her husband Zeus’ philandering ways that she often directs her anger not only on the mistresses but also the innocent children of the unions (27). Even before Heracles was a teenager, Hera made several attempts on his life. One of the first instancesRead MoreThe Significance Of The Title Mythology 1923 Words   |  8 PagesSignificance of the title: Mythology The book that Edith Hamilton wrote, mythology has a title that explains itself. It is a huge book full of mythological animals, people, stories, places, and more. The title mythology is very clever and simple to use because it covers the entire book itself. From the story of the Titans, to Perseus, to Theseus, to Hercules. This book is filled with many adventurous stories of the myths from the Norse, Greek, and roman cultures. The significance of the title is veryRead MoreThe Greek Heros Triumph Over Monsters1477 Words   |  6 Pageswinged sandals, he hovered over them only looking into the reflection of his shield. Athena guided his hand an he cut off Medusa’s head, picked it up still not looking at it, and dropped it into his wallet that expanded to fit whatever was in it (Hamilton 151). Though he had the help of gods, Perseus is still the hero of this myth and overcame the monster Medusa. While journeying, another hero, Theseus, fought multiple monsters, one of which also attacked him indirectly. The monster Sinis attachedRead More The Influence of Mythology on Literature and Society Essay2666 Words   |  11 PagesThe Influence of Mythology on Literature and Society Edith Hamilton is the author of the book Mythology. This book is about the Mythology of the Romans and Greeks through her eyes and the way she interprets it. In the beginning of the book Hamilton writes an introduction to Classical Mythology and how, and why it came about. She starts off by writing that Greek and Roman Mythology is meant to show us how people felt about the human race and about where they came from many years ago. She pointsRead MoreGreek Gods and Goddesses2478 Words   |  10 Pageshad a great influence and importance to Greek culture. br brWhen Zeus, Jupiter in Roman Mythology, was young, he overthrew his father, Cronus, to become the Supreme Ruler and Protector God. Zeuss power, which included him as the Lord of the Sky, Rain God, God of Thunder, God of the Winds, and Cloud-Gatherer, was greater than that of all of the other gods and goddesses ascendancy combined.(Guirand 105; Hamilton 25-26) Zeus married and made mistresses of many women. Metis was his first wife. Gaea

The Analysis of Mozarts Dies Irae Essay - 710 Words

Megan Stewart Theory III: MUSI 2311 Dr. Brian Bondari December 13, 2010 The Analysis of Mozart’s â€Å"Dies Irae† The final composition of Mozart, The Requiem mass in D Minor, containing â€Å"Dies Irae,† is known to be one of his most powerful and commended works. This piece was composed in 1791 while Mozart was, unfortunately, on his death bed. However, he was unable to complete it so it was then passed on to his assistant and later finished by this man. The choral work can be very dark, for it concerns the Day of Wrath, when God will return to this earth and pass judgment on all creatures that remain, either granting them salvation or perpetual damnation to hell. This theme alone provides one with fear, thus it can be assumed that even†¦show more content†¦In two different cases, relatively close together in the music, he uses a secondary dominant to embellish the regularity of the effect. However, in these two different cases, the chords shift slightly, as shown in measures 52 and 55, pictured below. V/IV I V6/5/IV IV Despite the fact that the V/IV is basically a I7 chord, theory students of modern teachings have been taught that the chord after the slash mark of the secondary dominant is where the secondary dominant will lead to. So, creating a simple I chord in the figure above might be seen as a little misleading. His is seen as more traditional in the sense of good music theory practice, but regarding that it is Mozart’s piece, it is safe to say that both will work just fine. Mozart likes to add color to his compositions by also using Neapolitan chords. He effectively uses them as both a passing function as well as a neighboring function. In the example provided above, Mozart cleanly exercises the passing rule of the Neapolitan 6th chord. Refer to Figure 2, measures 36 and 37: D Minor: V7 i i N6 ( in passing function) ââ€" ¦7 Mozart clearly integrates the Neapolitan chord correctly, in the practical theory sense, and also very well in the applicat ion of the passing function. Although the

Self identity Essay Example For Students

Self identity Essay Tim V Kolton Personal Identity: Philosophical Views Alan Watts once said, Trying to define yourself is like trying to bite your own teeth. The task of personal identity is to define a quality of a human which makes him or her a unique self. The person whose identity is in question must realize themselves, and other people must identify this person. In other words, what makes John unique from Bob? One must consider both internal (mind) and external (body) perspectives. There are several general philosophical theories of this identity problem. In the following paragraphs one will find the body theory, soul theory, and a more detailed explanation of the conscious theory. One theory of personal identity is known as the body theory. This is defined as a person X has a personal identity if and only if they have the same body Y. However there are two problems with this definition. The first is qualitative. It is necessary to have the same body, but if that body is changed, is one the same person? Someone’’s body is surely different at age 40 than at age 4. Also a problem arrives in alterations to a body. If John goes to war, becomes injured by a mine, and then has his legs amputated is he not still the same person, John? Therefore, the preceding definition of body theory is not sufficient, since it does not account alterations to the same body. Yet another problem is numerical. If someone were to get a finger chopped off, would that finger be considered another person? What if a scientist was to use someone’’s DNA and replicate another person with the same body? Surely just because there are two identical bodies, these bodies cannot be the same person. They would live two different lives. Therefore, the body theory alone cannot be considered a necessary and sufficient definition when defining personal identity. Another common theory of personal identity is the soul theory. This theory is: a person is has personal identity if and only if they have the same soul. The problem with this theory is arrived from the definition of a soul. Soul is a very difficult term. It is thought by many to be a spirit that passes from your body into another realm (i.e. , heaven, hell, etc.). However, since no one has ever seen, felt, touched, smelled, or tasted a soul, it is a mysterious phenomenon. Since we have no clear and distinct idea of a soul , it would not be wise to base the definition upon it. For instance, some religions believe in reincarnation after death. This is when a soul enters another body. With this in mind, someone’’s soul such as Elvis could become reincarnated in someone else named John. However, we would not say that this Elvis and John are the same person . Therefore, the definition of the soul theory fails in that the definiens does not become sufficient for defining personal identity. The most recognized true philosophical theory of personal identity is the consciousness theory. The consciousness theory is believed by most to be the best definition of personal identity according to most philosophers. However, there are three different versions of the consciousness theory that will be discussed in further detail: the conscious self, experiential content, and connected stream of consciousness theories. First, we have the theory of a conscious self: a person has a personal identity if he or she has the same conscious self. In other words, if two people have a different conscious, then they each have personal identity. At a first glance, this would be a good definition of a personal identity. It is analogous to Descartes’’ cogito, I think therefore I am. .uf392256c70a9f435d6cc3cc93d043ef6 , .uf392256c70a9f435d6cc3cc93d043ef6 .postImageUrl , .uf392256c70a9f435d6cc3cc93d043ef6 .centered-text-area { min-height: 80px; position: relative; } .uf392256c70a9f435d6cc3cc93d043ef6 , .uf392256c70a9f435d6cc3cc93d043ef6:hover , .uf392256c70a9f435d6cc3cc93d043ef6:visited , .uf392256c70a9f435d6cc3cc93d043ef6:active { border:0!important; } .uf392256c70a9f435d6cc3cc93d043ef6 .clearfix:after { content: ""; display: table; clear: both; } .uf392256c70a9f435d6cc3cc93d043ef6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uf392256c70a9f435d6cc3cc93d043ef6:active , .uf392256c70a9f435d6cc3cc93d043ef6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uf392256c70a9f435d6cc3cc93d043ef6 .centered-text-area { width: 100%; position: relative ; } .uf392256c70a9f435d6cc3cc93d043ef6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uf392256c70a9f435d6cc3cc93d043ef6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uf392256c70a9f435d6cc3cc93d043ef6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uf392256c70a9f435d6cc3cc93d043ef6:hover .ctaButton { background-color: #34495E!important; } .uf392256c70a9f435d6cc3cc93d043ef6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uf392256c70a9f435d6cc3cc93d043ef6 .uf392256c70a9f435d6cc3cc93d043ef6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uf392256c70a9f435d6cc3cc93d043ef6:after { content: ""; display: block; clear: both; } READ: Phosphorus: Chemical Reactions Of Phosphorus And Its Importance Essay Being conscious would mean knowing that one exists, and able to think about any experience that happens. However the main fault with this is that it is a circular definition. We are using the definiens in the definiendum which is not a good tactic of defining personal identity. Next, a common derivative of the consciousness theory is the consciousness of experiences theory. This is defined as having the same experiential content. This theory is based upon Locke’’s theory of the mind

International Trade Fishery Import

Question: Discuss about the International Trade Fishery Import. Answer: Russia Removed import duties on Fish Products https://www.maritimeherald.com/2016/russia-removed-import-duties-on-fish-products/ The article presents an economic decision made by the Russian Government to spark fishery imports and meet the escalated demand for fishery products. The decision not only does that but goes further to kindle foreign trade, create an attractive Fishery products market in Russia and trigger the sprouting and development of the fish processing plants in Russia. The Russian government, through Directorate of Federal Customs Revenues and Tariff Regulation, removed import duties on fish products. The decision was mainly instigated by the imbalance between demand and supply of the fish products in Russia. Additionally, the deficit in meeting the demand of fishery products, saturated domestic market and need to expand the fishing processing industry instigated zeroing of the import duties for fishery products. In the article, an official statement of the Ministry of Economic Development notes that, Due to saturation of the domestic market and meeting the demand of fishery products, as well as increasing of the load of fish processing plants, was considered appropriate to zero the import duties for marine fish production. The Russian decision is further cemented by the economic statistics that had been collected over some previous years. Basing on the statistics given by the Russian Federal Fisheries Agency, Russia reported about 13% decrease on the imported fishery products. A trend that needed an urgent economic decision to create a balance between demand and supply besides creating other economic merits mentioned above. The articles notes, The Russian Federation imported 307,500 tons of fish products, which is 13% less than the same period last year. Import duties, also known as tariffs, are a tax imposed by the government on goods bought from other countries (imports). Simply put, import duties raise the price of goods thus consumers pay higher price to acquire a basket of goods[1]. Although they are mainly imposed to prevent free trade hence protecting the domestic industries from relatively cheaper imported goods, import duties mainly leads to retaliation by other countries. The exporter may too impose import duties on the other countrys exports. Fig1.-Effects of import Duties on Equilibrium Price Analyzing the above figure, without any trade, the equilibrium price (P0) is 1.80 and a quantity of 40 million is exchanged. However, when an import duty of 0.4 is imposed the price of import drops by 0.20 to 1.60. Consequently, the quantity of the import drops by 20 million. That is 50 million less 30 million. Fig2-Effects of Reduction of Import Duties Assuming that Russia did not entirely remove the import duties on the fishery products but reduced the amount of tariffs charged on imports, in this case, the import duties will be given by . The Tariff (Import duty) causes a reduction in imports. Analytically, the imports were Q4-Q1 but after imposing import duties, the imports fall to Q3-Q2. We can therefore say that trade liberalization which involves repelling of barriers to trade, free trade creation and lower prices for consumers can be fathered by removing import duties.[2] Besides, the move to repel tariffs have other myriads of benefits to the counties involved including peaceful political existence which further encourages trade between trading parties. However, despite the benefits that comes with reduction or removal of tariffs, imposition of taxes have some benefits too. Imposing duties on imports increase revenue collection by the government (other factors remaining constant, e.g amount of imports), protects domestic industries from international completion and may to some extend discourage importation of harmful goods[3]. Generally speaking, the move by Russian government, as brought forward by the article, to remove the import duties on fishery products will be a boon to fostering the expansion of domestic fishery plants. Besides, it will strike a balance between the demand and supply that was being encountered by the domestic consumers as noted in the article, Due to saturation of the domestic market and meeting the demand of fishery products, as well as increasing of the load of fish processing plants, was considered appropriate to zero the import duties for marine fish production. Most importantly, the decision will improve the benefits it derives from the international meet the industry demands of its locals. Bibliography Tragakes, Ellie. Economics for the IB Diploma- Second Edition (Cambridge: Cambridge University Press, 2012) Irwin, Douglas. Free Trade Under fire-third Edition (Preston UniversityPress, 2012) Tragakes, Ellie. International Trade Economics for the IB Dimploma. 2nd.ed.Cambridge UP, 2012.366.Print Irwin, Douglas. Free Trade under Fire.3rd.ed.Priceton University press, 2012.265.Print Irwin,301