Reading Assignments For Exam #2
- Due No Due Date
- Points 100
Reading Assignments for Exam #2
Read Chapter 37 - Trade Theory
Important Concepts
absolute advantage
comparative advantage
terms of trade
mercantilism
specialization
gains from trade
point of specialization
consumption possibilities curve
production possibilities curve
trade deficit
trade surplus
tariffs
currency manipulation
NAFTA
predatory pricing
protectionism
voluntary import (VIR)/ voluntary export (VER) restraints
Links:
Mercantilism - Phillip von Hornick - http://www.newworldencyclopedia.org/entry/Mercantilism Links to an external site.
Adam Smith - absolute advantage - Theory of Comparative Advantage - WTO - http://www.wto.org/english/res_e/reser_e/cadv_e.htm Links to an external site.
Intelligence Squared Debate - Resolved - Buy American/Hire American Policies will Backfire - http://www.youtube.com/watch?v=C5l7kmkdKoI
Links to an external site.
Greg Ip - THE WALL STREET JOURNAL - Trade Deficits and Tariffs - https://www.wsj.com/articles/deficits-are-a-flawed-guide-to-unfair-trade-1489594137 Links to an external site.
IGM Panel - Free Trade - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_0dfr9yjnDcLh17m Links to an external site.
IGM Panel - Buy American - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_3mk8ToqlyMxas72
IGM Panel - Fast Track Authority - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_d68906VNWqVmiGN Links to an external site.
IGM Panel - Import Duties - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_bPhkXOCq57dbfql Links to an external site.
IGM Panel - Trade and Toughness - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_25byqjBle85jqy9 Links to an external site.
IGM Panel - Currency Manipulation - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_bCrHQToXMqPfLzD Links to an external site.
IGM Panel - Trade Balances - http://www.igmchicago.org/igm-economic-experts-panel/poll- Links to an external site.results?SurveyID=SV_a3jxYtWKoF4vSKx Links to an external site.
IGM Panel - Trade Deals - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_b8l5ezGsRO0eedD Links to an external site.
IGM Panel - Manufacturing Jobs - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_bf1N9m71c1yF6jr
IGM Panel - Presidents and Jobs - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_3RiSg3IHjf9A3tz
IGM Panel - Ethanol - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_cN5nYc2pLVCJdMp Links to an external site.
IGM Panel - Trade Barriers for Sugar - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_09vbSl37UGl6oCh Links to an external site.
IGM Panel - US -China Trade - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_003w6LBGnkOfDuI Links to an external site.
IGM Panel - China Exchange Rates - http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_3IWI6URnw6jxTla Links to an external site.
The Miracle of Trade - The Economist - http://www.fperri.net/teaching/undergrad/macropolicy/MIRACLE.PDF Links to an external site.
Economics Online - Comparative and Absolute Advantage - http://www.economicsonline.co.uk/Global_economics/Comparative_advantage.html Links to an external site.
Eric Doviak - http://www.doviak.net/microbook_3e.pdf Links to an external site. (pages 24 - 28)
University of Wyoming - Comparative Advantage - http://www.uwyo.edu/rgodby/econ1010/opportun2.htm Links to an external site.
College of William and Mary - Comparative Advantage - http://njsanders.people.wm.edu/1A/Advantage%20_and_Trade.pdf Links to an external site.
Georgia State University - Comparative Advantage - http://econport.gsu.edu/content/handbook/productionpossibilities/Comparative-Advantage.html Links to an external site.
Comparative Advantage - Desert Island Game - http://desertislandgame.com/ Links to an external site.
San Jose State University - http://www.sjsu.edu/faculty/watkins/compadv.htm Links to an external site.
Auburn University - http://www.auburn.edu/~johnspm/gloss/comparative_advantag Links to an external site.e
University of Washington - comparative advantage - http://faculty.washington.edu/jacoby/BLS345/Compadvtutor.html Links to an external site.
University of Pittsburgh - http://www.pitt.edu/~upjecon/MCG/MICRO/COMPADV/CompAdv.html Links to an external site.
University of Michigan - http://www-personal.umich.edu/~alandear/writings/CompAdv3.pdf Links to an external site.
Montana State University - http://www.bus.msu.edu/econ/brown/pim/pdffiles98/compad198.pdf Links to an external site.
Where Is the I-Phone Made? - Problems with trade data - http://online.wsj.com/article/SB10001424052748704828104576021142902413796.html?mod=WSJ_hp_MIDDLETopStories Links to an external site.
Videos:
Comparative Advantage - Why Countries Trade
Links to an external site.
Comparative Advantage - Why Countries Trad
Links to an external site.
Comparative Advantage and Gains from Trade and Specialization
Links to an external site.
Practice Test - http://www.oneonta.edu/faculty/beckei/E111RChap21.html
Links to an external site.
Links to an external site.
US International Trade Data:
US Trade Deficit - What Do We Buy and Sell - http://www.marketwatch.com/story/why-the-us-has-a-huge-trade-deficit-2017-02-07 Links to an external site.
The Journey of One Capacitor in the NAFTA supply chain - https://www.bloomberg.com/graphics/2017-trump-protectionism-alters-supply-chain Links to an external site.
US - Mexico Trade Data - http://www.marketwatch.com/story/trump-calls-us-mexico-trade-one-sided-heres-the-reality-2017-01-26 Links to an external site.
International Trade Data - https://fas.org/sgp/crs/misc/R42135.pdf Links to an external site.
Manufacturing Employment, Service Sector Employment, and Manufacturing Output - https://tropicsofmeta.wordpress.com/2014/08/18/13-great-books-on-the-post-industrial-society Links to an external site.
US largest Trading Partners - https://www.census.gov/foreign-trade/statistics/highlights/top/index.html Links to an external site.
Major US Oil Suppliers - http://www.eia.gov/tools/faqs/faq.cfm?id=727&t=6 Links to an external site.
OECD- Organization for Economic Cooperation and Development (OECD) - http://www.oecd.org Links to an external site.
OECD - Exports as a % of GDP - https://www.google.com/search?q=exports+as+a+%25+of+gdp+-+oecd&espv=2&biw=1680&bih=949&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjo_pqtm__KAhUM-GMKHU4mDJYQ_AUIBygC#imgrc=A_ve1y34wwMy1M%3A Links to an external site.
OECD - Trade as a % of GDP - http://www.oecd-ilibrary.org/sites/factbook-2011-en/04/01/01/04-01-01-g1.html?itemId=/content/chapter/factbook-2011-33-en&_csp_=991dd3505d336f07685f023bd9e02257 Links to an external site.
US Manufacturuing Employment - https://www.google.com/search?q=%25+of+us+employment+in+manufacturing&espv=2&biw=1680&bih=905&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiEwq_JnP_KAhUEzGMKHTNVB0AQ_AUIBygC#imgrc=O-Ee-vjmiMVUOM%3A Links to an external site.
US Manufacturing Output as a % of GDP - https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiFluu8nf_KAhUG4WMKHYsVDG0QjRwIBw&url=http%3A%2F%2Fwww.brookings.edu%2Fresearch%2Fpapers%2F2014%2F02%2Fus-manufacturing-past-and-potential-future-baily-bosworth&psig=AFQjCNFotxY4tjC9HmA4mh_OJ439dxHJNw&ust=1455813331690826 Links to an external site.
US largest trading partners - https://www.census.gov/foreign-trade/statistics/highlights/top/top1312yr.html Links to an external site.
US Workers Employed in Manufacturing - 1943 - 2000 - http://tropicsofmeta.com/2014/08/18/13-great-books-on-the-post-industrial-society Links to an external site.
Manufacturing Employment, Service Sector Employment, and Manufacturing Output - https://tropicsofmeta.wordpress.com/2014/08/18/13-great-books-on-the-post-industrial-society Links to an external site.
OECD - Exports as a % of GDP - https://www.google.com/search?q=exports+as+a+%25+of+gdp+-+oecd&espv=2&biw=1680&bih=949&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjo_pqtm__KAhUM-GMKHU4mDJYQ_AUIBygC#imgrc=A_ve1y34wwMy1M%3A Links to an external site.
OECD - Trade as a % of GDP - http://www.oecd-ilibrary.org/sites/factbook-2011-en/04/01/01/04-01-01-g1.html?itemId=/content/chapter/factbook-2011-33-en&_csp_=991dd3505d336f07685f023bd9e02257 Links to an external site.
US Manufacturuing Employment - https://www.google.com/search?q=%25+of+us+employment+in+manufacturing&espv=2&biw=1680&bih=905&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiEwq_JnP_KAhUEzGMKHTNVB0AQ_AUIBygC#imgrc=O-Ee-vjmiMVUOM%3A Links to an external site.
US Manufacturing Output as a % of GDP - https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwiFluu8nf_KAhUG4WMKHYsVDG0QjRwIBw&url=http%3A%2F%2Fwww.brookings.edu%2Fresearch%2Fpapers%2F2014%2F02%2Fus-manufacturing-past-and-potential-future-baily-bosworth&psig=AFQjCNFotxY4tjC9HmA4mh_OJ439dxHJNw&ust=1455813331690826 Links to an external site.
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