PowerPoint Lectures for Principles of Economics, 9e By Karl E. Case, Ray C. Fair & Sharon M. Oster. ; ; . International Trade, Comparative Advantage, and Protectionism. Prepared by:. Fernando & Yvonn Quijano. International Trade, Comparative Advantage, and Protectionism.
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2. THE ECONOMIC PROBLEM. CHAPTER. Objectives. After studying this chapter, you will be able to: Define the production possibilities frontier and calculate opportunity cost Distinguish between production possibilities and preferences and describe an efficient allocation of resources
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Chapter 4 Global Analysis. International Trade. Section 4.1 International Trade Section 4.2 The Global Marketplace . International Trade. Key Terms international trade imports exports balance of trade free trade tariff quota embargo protectionism World Trade Organization (WTO)
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International Business Strategy, Management & the New Realities by Cavusgil, Knight and Riesenberger. Chapter 4 Theories of International Trade and Investment. Learning Objectives. Theories of international trade and investment Why nations trade
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Opportunity cost of any choice What we forego when we make that choice Most accurate and complete concept of cost Direct money cost of a choice may only be a part of opportunity cost of that choice Opportunity cost of a choice includes both explicit costs and implicit costs
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Chapter 20. International Trade. Some Key Trade Facts. U.S. trade deficit in goods $529 billion in 2015 U.S. trade surplus in services $220 billion in 2015 Canada largest U.S. trade partner Trade deficit with China $366 billion in 2015 Exports are 13% U.S. output Dependence on oil.
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Government Intervention into Trade. Kenneth R. Szulczyk. Free Trade. Law of Absolute Advantage Not in notes Countries specialize in goods that it can produce the cheapest Then trade goods with other countries World production increases Free trade increases the wealth of all countries.
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Specialization and Exchange. Specialization Method of production in which each person concentrates on a limited number of activities Exchange Practice of trading with others to obtain what we want Allows for Greater production Higher living standards than otherwise possible
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Lecture 2: Scarcity and Choices. Opportunity Cost Production Possibility Frontier (PPF) Sources of the Gains from Specialization Comparative Advantage and Absolute Advantage Three Problems of Resource Allocation . The Concept of Opportunity Cost. Opportunity cost of any choice
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Chapter 4 Understanding the Global Context of Business Overview Rise of international business Major world marketplaces International business strategies Competitive advantage Import-export balances Exchange rates Foreign competition shape
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Comparative Advantage. The Gains to International Trade (Really All Trade). Why do we trade?
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WHY DO NATIONS TRADE? THE MOVEMENT OF GOODS AND SERVICES AROUND THE GLOBE. WHAT IS INTERNATIONAL TRADE?. International Trade is the exchange of goods and services between nations across international borders. It occurs when one nation has something that another nation wants.
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World History/ Geo January 26 th , 2015. WARM UP: Answer True or False for the following questions: 1) The United States exports more goods than it imports 2) A total of $412 million worth of goods comes into and out of the US every day
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Plain Vanilla Swaps. Group member: Shanwei Huang An Gong. 1. History of Interest rate swaps. Interest-rate swaps have grown tremendously over the last 10 years.
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International Economics. International Economics. Reasons for Trade. Exchange Rates. Comparative Advantage. Balance of Payments.
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