Econ 114-Lecture 13

Econ 114-Lecture 13 - Econ 114 Lecture 13 Announcements...

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Econ 114 Lecture 13
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Announcements Final = T/F/U as in the midterm + 2 or 3 math problems as in the Problem sets.
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Trade countries trade in goods and in factors (migration, capital flows, students from abroad…) Countries also trade technologies (is democracy good? are independent central banks good?) Now what are the consequences of trade? (the causes are kind of known: we are different!)
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Globalization Figure 11.1
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Immigration Graph on immigration 1820-2010. Yet to experience the level of integration of pre WWI. Between 1870 and 1925, 100 million people change countries! majority of immigration is from Latin American countries
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Where is there mobilization? Lower transportation costs energy efficient transportation; steam, automobile, railroads (faster and cheaper trips) Airplanes are really cheap!
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Why is there mobilization? Better information partly by transportation But also by new technologies (email, telephone, fax, telegraph) 3 minutes on the phone to London $3000 in 1930 $50 in 1960, today less than $1 Trade policy: Trade agreements (NAFTA, WTO) tariffsm quota, voluntary restrictions, anti-dumping import duties
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Figure 11.2
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Econ 114-Lecture 13 - Econ 114 Lecture 13 Announcements...

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