2. Be familiar with the historical development of the modern global monetary system.
3. Appreciate the differences between a fi xed and a fl oating exchange rate system.
4. Understand why the world’s fi xed exchange rate regime collapsed in the 1970s.
5. Understand the arguments for and against fi xed and fl oating exchange systems.
6. Be familiar with the role played by the International Monetary Fund and the World Bank in the global monetary system.
7. Understand the implications of the global monetary system for currency management and busi- ness strategy.