module 02_ECO-111-sep18.docx - ECO-111 MACROECONOMICS Module 2 STUDY MATERIALS Textbook Readings ● ● Read Chapter 3 “Interdependence and the Gains

module 02_ECO-111-sep18.docx - ECO-111 MACROECONOMICS...

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ECO-111: MACROECONOMICS Module 2 STUDY MATERIALS Textbook Readings Read Chapter 3, “Interdependence and the Gains from Trade,” in Mankiw, Principles of Macroeconomics . Read Chapter 4, “The Market Forces of Supply and Demand,” in Mankiw, Principles of Macroeconomics . ACTIVITIES Module 2 has two activities. Please consult the Course Calendar for the due dates. Discussion Forum 2 In Discussion Forum 2, post your response to the following discussion topic. Reply to at least two classmates' responses by the date indicated in the Course Calendar. Describe goods and/or services in the provision of which you have an absolute advantage. Explain what that advantage is. Describe goods and/or services in the provision of which you have a comparative advantage. (What do you give up less of?) Explain what that advantage is. What is your advantage when you trade for those goods and services you do not have an absolute advantage in? Now select a country and do the
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