CFA Level 1 - Global Economic Analysis Email to Friend Comments 5.1 - Introduction Now that we have discussed everything you need to know regarding micro and macroeconomics,…

Some Questions 1 Economics is a social science concerned with: A. Increasing the level of productive resources so there is maximum output in society B. Increasing the level…

Slide 1Game of scarcity, standard of living, and making the mud-brick house of your dreams GET RICH IN THE NEOLITHIC PERIOD! Slide 2 Neolithic Period From the Stone Age to…

Slide 1 2. Free Trade and Protection Slide 2 Summary 1.Theory of Comparative Advantage: Why trade is good. 2.Where comparative advantage comes from: Heckscher-Ohlin Model…

Session 3 Session 3 Why Everybody Trades: Comparative Advantage Why Do Countries Trade ? Country A Country B History Mercantilisms : Older than Smith â and Alive Today At…

NS3040 Winter Term 2015 Trade Theories Comparative Advantage The main theory of trade is comparative advantage The idea that with different shaped production possibility…

BBB4M Benefits of International Trade Source: http://www.ifpri.cgiar.org/training/material/economicconcepts/training_econcon6.ppt Principle of Absolute Advantage A country…

Session 3 Session 3 Why Everybody Trades: Comparative Advantage Why Do Countries Trade ? Country A Country B History Mercantilisms : Older than Smith â and Alive Today At…

THE OPEN ECONOMY AND BALANCE OF PAYMENYTS TYPES OF ECONOMY CLOSED OR AUTARKY:No linkages with rest of the world. OPEN ECONOMY:Economic linkages between countries through…

Economic Systems Chapter 3 Why are economic systems needed? Rules of the game! Standard incentives Understanding of the rewards Economic Systems can allow for _____ A. Specialization…