IntlTrade - International Trade Theory Learning Objectives...

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1 International Trade Theory Learning Objectives Understanding the underlying assumptions and approaches to economic & strategic trade theory Understanding the International Product Life-Cycle construct Understanding the concepts of economic development and international investment Understanding tariff and non-tariff trade restrictions Comparative Trade Theory Approaches Economic Strategic Basis: Perfect Markets Basis: Strategic Variables 1. Rational/economic behavior 2. Perfect information 4. P = ƒ(S,D) 3. Commodity products 1. Competitive conditions 2. Factor conditions 4. Demand conditions 3. Supporting industries Factors of Production (economic rents) Factors of Production 1. Fixed 1. Variable 2. Homogeneous 2. Heterogeneous 3. Equally distributed 3. Disparate Economic Trade Theory Factors of production: land, labor, capital Mercantilism (c. 1550-1800)
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2 The Dam Basel Mercantilism Marne Main Saar/Elbe Danube Economic Trade Theory Factors of production: land, labor, capital Mercantilism (c. 1550-1800) Absolute Advantage (Smith, 1776)
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This note was uploaded on 11/10/2011 for the course MGMT 3600 taught by Professor Robertdesman during the Fall '11 term at Kennesaw.

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IntlTrade - International Trade Theory Learning Objectives...

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