Econ1-Fall2010-09-IntTrade-handout

Econ1-Fall2010-09-IntTrade-handout - Announcement...

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Economics 1 rinciples of Microeconomics Principles of Microeconomics 9. International Trade Fall 2010 Herb Newhouse 1 nnouncement Announcement uring the final exam you cannot sit next to During the final exam you cannot sit next to anyone you studied with. Studying with excludes class, discussion sections yg , and office hours. It includes people you study with before or after these ssions sessions. It includes people you study with in other small or large groups. If you’re unsure if you studied with someone, on’t sit next to him or her don t sit next to him or her. 2 eadings Readings h 8: International Trade and Capital Flows Ch. 28: International Trade and Capital Flows (p. 809 – 824) e Trade Balance and Net Capital Inflows The Trade Balance and Net Capital Inflows (You should know about trade balance but don’t need to worry about net capital inflows.) Comparative Advantage as a Basis for Trade Trade Restrictions Causes and Consequences q 3 utline Outline troduction. Introduction. PPC/CPC Analysis. omparative advantage (Review) Comparative advantage (Review). Consumption possibilities with and without trade. ffect of world price on domestic production. Affect of world price on domestic production. Supply and Demand Analysis. ports and exports Imports and exports. Winners and losers from trade. rotectionist policies Protectionist policies. 4
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asic Concepts Basic Concepts ports: goods and services we buy from Imports: goods and services we buy from other countries. Exports: goods and services we sell to other untries. countries. alance of trade: the value of all exports Balance of trade: the value of all exports minus the value of all imports.
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Econ1-Fall2010-09-IntTrade-handout - Announcement...

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