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Short2 - E 101 Short Note 2(Ricardian Model Lectures are...

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1 E 101: Short Note – 2 (Ricardian Model) (* Lectures are mainly based on our textbook, Krugman’s International Economics: Theory and Policy. Thorough reading of the text in addition to active participation in classes is strongly recommended. This note is just a short list of topics we discuss in class for your reference.) I. Classic Trade Theory * Major Questions: i) Why trade at all? Æ What is the source of gains from trade? ii) What is the effect of trade? - the effects of trade on income redistribution - the effects on social welfare
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