TAILIEUCHUNG - Lecture Macroeconomics (9/e): Chapter 8 - David C. Colander

Chapter 8 - Comparative advantage, exchange rates, and globalization. After reading this chapter, you should be able to: Explain the principle of comparative advantage, explain why economists' and laypeople's views of trade differ, summarize the sources of . comparative advantage and discuss some concerns about the future in the . economy, discuss how exchange rates are determined and what their role is in equalizing trade flows. | Comparative Advantage, Exchange Rates, and Globalization One of the purest fallacies is that trade follows the flag. Trade follows the lowest price current. If a dealer in any colony wished to buy Union Jacks, he would order them from Britain’s worst foe if he could save a sixpence. — Andrew Carnegie Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin Chapter Goals Explain the principle of comparative advantage Discuss how exchange rates are determined and what their role is in equalizing trade flow Explain why economists’ and laypeople’s views of trade differ Summarize the sources of . comparative advantage and discuss some concerns about the future in the . economy 2 The Principle of Comparative Advantage Opportunity cost is what must be given up in one good in order to get another good The principle of comparative advantage is that as long as the relative opportunity costs of producing goods differ among countries, then there are .

• Kinh tế học
• Lecture Macroeconomics
• Kinh tế vĩ mô
• Macroeconomic problems
• International macroeconomic policy issues
• Comparative advantage
• Exchange rates
• Bài giảng Kinh tế vĩ mô
• Science of macroeconomics
• Data of macroeconomics
• Unemployment rate
• Inflation rate
• Principles of microeconomics
• Economic models
• Tools of microeconomics
• Microeconomic transactions
• Natural rate of unemployment
• Consumer price index
• National income
• Agriculture sector
• Agricultural policies
• Economic fluctuations
• Macroeconomic policy
• Business cycle theory