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Comparative Advantage
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This series of slides presents the production possibilities frontiers for Alphatown and Omegaville and illustrates their comparative advantage in the production of apples and potatoes, leading to specialization and trade.

Subject:
Economics
Social Science
Material Type:
Lesson
Lesson Plan
Provider:
Federal Reserve Bank of St. Louis
Provider Set:
Economic Lowdown Lessons
Date Added:
10/06/2014
Economics Made Easy: Curricular Resources for Economics Courses
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CC BY
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Looking for engaging content for your economics courses? The Institute for Humane Studies has curated this collection of educational resources to help economics professors enrich their curriculum. Find videos, interactive games, reading lists, and more on everything from opportunity costs to trade policy. This collection is updated frequently with new content, so watch this space!

Subject:
Economics
Social Science
Material Type:
Teaching/Learning Strategy
Provider:
Institute for Humane Studies
Author:
Institute for Humane Studies
Date Added:
04/13/2018
International Trade
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CC BY
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Historically, international trade has played a critical role in enabling countries to grow, develop, and become economically powerful. Through international trade in goods and services, the economies of different countries are more closely linked to one another now than ever before. At the same time, the world economy is more turbulent now than it has been in decades. Keeping up with the shifting international environment has become a central concern in business strategy and national economic policy. This course uses the same fundamental methods of analysis deployed in other branches of economics, as the motives and behavior of individuals and firms remain the same whether they are in the context of international trade or domestic transactions. The student will learn, however, that international trade introduces an entirely new and different set of concerns as well. Upon successful completion of this course, the student will be able to: Have a good understanding of the fundamentals of global economics; Have a rounded overview of the modern international trade theory; Understand the current world trading system and the basic rules underlying this system; Study and discuss historic, current, and emerging economic models in the United States and around the world; Understand recent developments in the field of international macroeconomics and perform an independent study in this field; Acquire and demonstrate analytical and problem solving skills to discuss and analyze the global economic environment within which business operate; Acquire an analytical framework to examine contemporary international economic issues; Acquire a general overview of international trade, the foreign exchange markets, and the issues arising from the globalization of markets; Understand the concepts of foreign exchange, its importance to individuals, businesses, and the performance of national economies, and how foreign exchange markets work; Analyze policy issues related to international trade; Understand the legal system governing international economic transactions and international economic relations; Assess actual dispute settlement proceeding and discuss several dispute settlement cases that address a wide variety of issues such as antidumping, subsidy, safeguard, and environment; Answer the four trade questions: 'Why do countries trade?,' 'How does trade affect production and consumption in each country?,' 'Which country gains from trade?,' and 'Within each country, who are the gainers and losers from opening trade?' (Economics 307)

Subject:
Economics
Social Science
Material Type:
Full Course
Provider:
The Saylor Foundation
Date Added:
11/18/2011
International Trade
Read the Fine Print
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This course takes a look at the basic theories of international trade and the consequences of trade in today's global economy. You'll have the opportunity to learn more about fundamental ideas such as comparative advantage, increasing returns to scale, factor endowments, and arbitrage across borders. The consequences we discuss include the effects of offshoring, how trade has shaped the economies of China, Mexico, and Korea, when foreign direct investment is desirable, and the history of free trade and tariffs, among other topics. Trade is a topic of increasing importance and this material will give you a better grasp on the theories and empirics as they have been developed by economists.

Subject:
Economics
Social Science
Material Type:
Full Course
Provider:
Marginal Revolution University
Author:
Alex Tabarrok
Tyler Cowen
Date Added:
05/11/2017
Principles of Economics: Understanding Opportunity Cost, Comparative Advantage, and Absolute Advantage
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CC BY-NC-SA
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In principles of economics students many times have trouble understanding the concept of opportunity cost, connecting opportunity cost to comparative advantage, and differentiating between absolute advantage and comparative advantage. This activity allows the instructor to detect whether a large number of students exhibit any of these misconceptions, and then focus on the most problematic concepts in class.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Teaching and Learning Economics (SERC)
Author:
Marcelo Clerici-Arias
Date Added:
08/28/2012
Principles of Economics: Understanding Opportunity Cost, Comparative advantage, and Absolute Advantage
Conditional Remix & Share Permitted
CC BY-NC-SA
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In principles of economics students many times have trouble understanding the concept of opportunity cost, connecting opportunity cost to comparative advantage, and differentiating between absolute advantage and comparative advantage. This activity allows the instructor to detect whether a large number of students exhibit any of these misconceptions, and then focus on the most problematic concepts in class.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Teaching and Learning Economics (SERC)
Author:
Marcelo Clerici-Arias
Date Added:
08/28/2012
Principles of Macroeconomics 2e
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CC BY
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Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

Subject:
Economics
Social Science
Material Type:
Full Course
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
06/29/2017
Principles of Macroeconomics 2e, Globalization and Protectionism, International Trade and Its Effects on Jobs, Wages, and Working Conditions
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CC BY
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By the end of this section, you will be able to:

Discuss how international trade influences the job market
Analyze the opportunity cost of protectionism
Explain how international trade impacts wages, labor standards, and working conditions

Subject:
Applied Science
Material Type:
Module
Date Added:
09/20/2018
Ricardian Explorer
Conditional Remix & Share Permitted
CC BY-NC-SA
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Ricardian Explorer, implemented on the internet, simulates a Ricardian trade model with linear production technology and a CES utility function. The typical simulation has two countries and two goods. While Ricardian explorer was developed to supplement a course in international trade, it can also be used in intermediate microeconomics and microeconomic principles courses. The authors of the simulation are Alberto Isgut and Tanya Rosenblat of Wesleyan University.

Subject:
Business and Communication
Economics
Social Science
Material Type:
Activity/Lab
Simulation
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Starting Point (SERC)
Author:
Betty J. Blecha
Date Added:
08/28/2012
Specialization and Trade: Because We Can't Be Good At Everything
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CC BY
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Ever wonder why people don’t do everything for themselves? In this video, Professor Art Carden of Samford University explains how specialization and trade create wealth and make us all better off.

Subject:
Economics
Social Science
Material Type:
Diagram/Illustration
Lecture
Lesson
Provider:
Institute for Humane Studies
Author:
Art Carden
Date Added:
10/31/2017