Global Economics (International Trade) Assignments
Swedish Central Bank's Memorial Nobel
Prize in Economics, 2002 Nobel Prize, 2003 Nobel Prize, 2004 Nobel Prize, 2005 Nobel Prize, 2006 Nobel Prize, 2007
Nobel Prize, 2008
Week 10
November 11, 2008 Chapter 10: Trade Policy in Developing Countries
- Homework Due at the beginning of class
- 1. Explain "The Doha Round"
- 2. Why is "The Doha Round" dead-in-the-water?
- 3. How does the Doha Round apply to your country?
- 4. What are the current tariffs in your country?
- 5. What other restrictions exist in your country?
- Note that since each is worth 5 points, make sure to have some substance to each of the five questions!
- Day 18 PPT - The Prisoner's Dilemma
- Read Chapter 10 - Chapter 10 PPT
- Trade Policy in Developing Countries
- Infant Industry Argument
- Promoting Manufacturing Through Protection
- The Problems of a Dual Economy
- Homework Due tomorrow - What's your Game?!? - Group Project! (See Day 18 PPT)
November 12, 2008 Chapter 10: Trade Policy in Developing Countries continued
- Homework Due at the beginning of class
- Day 19 PPT
- Economic Dualism in India
- Wage Differentials
- HPAEs
- Whither East Asia
- China's boom - What's next?
Week 12
November 26, 2008 WEDNESDAY Final Exam at 11:45 to 13:45, Room 2212
Week 9
November 4, 2008 Chapter 8: The Instruments of Trade Policy and Chapter 9: The Political Economy of Trade Theory
- Homework Due at the beginning of class
- Day 16 PPT - Eastern Europe Joins the Financial Crisis
- Discuss the Appendix to Chapter 8
- Tariffs and Import Quotas in the Presence of Monopoly
- Read Chapter 9 - Chapter 9 PPT
- The Political Economy of Trade Policy
- The Case for Free Trade
- A Political Arguement for Free Trade
- Homework Due tomorrow for 10 points, #5 and 6, p. 208.
- Also Group Homework, as assigned in Class, Due on Tuesday, November 11 for 25 points.
November 5, 2008 Chapter 9: The Political Economy of Trade Theory
- Homework Due at the beginning of class
- Day 17 PPT
- National Arguements Against Free Trade
- The Terms of Trade Arguement
- Domestic Market Failure Arguement
- Negotiation and the Prisoner's Dilemma
- International Trade Agreements
- Group Homework, as assigned in Class (PPT Day 18 below), Due on Wednesday, November 12 for 20 points.
Week 8
October 28, 2008 Chapter 7: International Factor Mobility
October 29, 2008 Chapter 8: The Instruments of Trade Policy
- Homework Due at the beginning of class
- Day 15 PPT - East Asian Countries And the Financial Crisis
- Read Chapter 8 - Chapter 8 PPT
- Basic Tariff Analysis
- Supply and Demand in a Single Industry
- Effects of a Tariff
- Measuring the Amount of Protection
- Costs and Benefits of a Tariff
- Consumer and Producer Surplus
- Measuring the Costs and Benefits
- Other Instruments of Trade Policy
- Export Subsidies
- Import Quotas
- Voluntary Export Restraints
- Others
Local Content Requirement
INDIVIDUAL homework: do #1, 2 and 3 on page 207. Due at the beginning of class Tuesday, November 4 for 15 points.
Week 7
October 21, 2008 Chapter 6: Economies of Scale, Imperfect Competition & International Trade
October 22, 2008 Chapter 6: Economies of Scale, Imperfect Competition & International Trade
- Review the Mid-Term Exam
- As discussed in class, Your group must discuss the current and potential Economies of Scale that exist in your country.
For example:- What Monopolies currently exist that can take advantage of higher demand in the world?
- What Oligopolies exist in the country you chose which can take advantage of higher demand in the world?
- Are there Monopolistically Competitive markets in the country you chose?
A larger market will support a larger number of firms and lower average cost in this type.
- Note that there are two types of MC industries: Differentiated Products and Intraindustry Trade.
- Be sure to answer EACH question above - 20 points (5 each) - double spaced, word processed with citations Due Wednesday at 8 am!
Week 6
October 14, 2008 Chapter 6: Economies of Scale, Imperfect Competition & International Trade
October 15, 2008 Mid-Term Exam
- Chapters 1 - 6 (exact coverage discussed in class)
Week 5
October 7, 2008 Chapter 5: The Standard Trade Model cont. and begin Ch. 6
- The Standard Trade Model continued
- Terms of Trade
- Production Possibilities and Relative Supply
- Relative Prices and Demand
- Economic Growth and Production Possibilities Frontier
- Immiserizing Growth
October 8, 2008 Chapter 6: Economies of Scale, Imperfect Competition & International Trade
- Day 9 PPT
- The Standard Trade Model continued
- Tariffs and Export Subsidies
- Distribution of Income Within Countries
- Read Chapter 6 - Chapter 6 PPT
- Economies of Scale
- The Theory of Imperfect Competition
Week 4
September 28, 2008 Chapter 5: The Standard Trade Model
- Read Chapter 5 - Chapter 5 PPT
- The Model
- Terms of Trade
- Production Possibilities and Relative Supply
- Relative Prices and Demand
- Indifference Curves
October 1, 2008 NATIONAL DAY WEEK HOLIDAY
- Relax, catch-up on reading and be with family!
Week 3
September 23, 2008 Chapter 4: Resources, Comparative Advantage, and Income Distribution
- Read Chapter 4 - Chapter 4 PPT - Day 5 PPT
- A Model of a Two-Factor Economy
- Prices and Production
- Choosing the Mix of Inputs
- Factor Prices and Goods Prices
- Resources and Output
- In Class Assignment, #2 & #3, p. 61, 5 pts.
September 24, 2008 Chapter 4: HO Model Continued
- Effects of International Trade Between Two-Factor Economies
- Relative Prices and the Pattern of Trade
- Trade and the Distribution of Income
- Factor Price Equalization
- Trade and Income Distribution in the Short Run
- Case Study: North-South Trade and Income Inequality
Week 2
September 16, 2008 Chapter 3: Labor Productivity and Comparative Advantage: The Ricardian Model
- Read Chapter 3 - Chapter 3 PPT - Day 3 PPT
- Homework due at the beginning of class
- The Concept of Comparative Advantage
- A One-Factor Economy
- Production Possibilities
- Relative Prices and Supply
- Trade in a One-Factor World
- Box: Comparative Advantage in Practice: The Case of Babe Ruth
- Determining the Relative Price after Trade
- The Gains from Trade
- A Numerical Example
- Box: The Losses from Non-Trade
- Relative Wages
- Homework: Do #1, 2 AND 3 at the end of Chapter 2, pages 35-6 in your groups, 10 points.
DUE TOMORROW!!
September 17, 2008 Chapter 3: The Ricardian Model continued
- Homework due at the beginning of class
- Finish and revisit Relative Wages from last class
- Misconceptions about Comparative Advantage
- Productivity and Competitiveness
- The Pauper Labor Argument
- Exploitation
- Box: Do Wages Reflect Productivity?
- Comparative Advantage with Many Goods
- Setting Up the Model
- Relative Wages and Specialization
- Determining the Relative Wage with a Multigood Model
Adding Transport Costs and Non-Traded Goods
Empirical Evidence on the Ricardian Model
Homework for Monday, re-read Chapter 2 and preview Chapter 4 - tough Chapters!
Week 1
September 9, 2008 Chapter 1: An Introduction to the Course
- Read Chapter 1 - Chapter 1 PPT - Day 1 PPT
- What is International Economics About?
- The Gains from Trade
- The Pattern of Trade
- How Much Trade
- International Finance(Taught Separately)
- What are the four categories of resources and their payments?
- What is an Entrepreneur and who is an example?
- Overview of the Text and the Class
- Introduction to Chapter 2: The Gravity Model
- Size of the Economy and Distance matter
September 10, 2008 Chapter 2: World Trade: An Overview
- Read Chapter 2 - Chapter 2 PPT - Day 2 PPT
- Who Trades with Whom?
- Size Matters: the Gravity Model
- The Logic of the Gravity Model
- Using the Gravity Model: Looking for Anomalies
- Impediments to Trade: Distance, Barriers, and Borders
The Changing Pattern of World Trade
- Has the World Gotten Smaller?
- What Do We Trade?
- Service Outsourcing
Do Old Rules Still Apply?
Introduce Chapter 3
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