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EC3024 (University of Aberdeen)

This class was created by Brainscape user Isaac Swain. Visit their profile to learn more about the creator.

By: Isaac Swain
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Decks in this class (18)

1.1. Introduction to International Trade
What is international economics,
Developments in international eco...,
Other countries compared to the us
11  cards
2.1. The Gravity Model
Who trades with whom,
The gravity model,
General gravity model
5  cards
2.2. Impediments to Trade
Impediments to trade 6 points,
Trade agreements,
World getting smaller
4  cards
2.3. What Do We Trade?
What do we trade,
Service offshoring,
Do old rules still apply
3  cards
3.1. Comparative Advantage & Opportunity Cost
Comparative advantage,
Roses vs computers,
One factor economy
8  cards
3.2. Trade in a One-Factor World: The Ricardian Model
Foreign a new country,
Absolute advantage in the ricardi...,
Comparative advantage in the rica...
7  cards
3.3. Misconceptions About Comparative Advantage
Productivity and competitiveness,
Pauper labour argument,
Explotation
3  cards
3.4. Comparative Advantage with Many Goods
Setting up the model,
Specialisation,
Specialisation example
6  cards
4.1. Specific Factors Model
Assumptions of the specific facto...,
Production possibilities,
Drawing the sfm ppf
6  cards
4.2. Prices & Income Distribution
Equal proportional change in price,
Change in relative price,
Change in r
4  cards
4.3. International Trade & Gains from Trade
Trade and relative prices,
Gains from trade,
The whole economy gains from trade
10  cards
5.1. The Heckscher-Ohlin Model
Model summary,
Setting up the economy,
Prices and production
12  cards
5.2. Introducing International Trade
Trading in the h o model,
Relative prices and patterns of t...,
Heckscher ohlin theorem
9  cards
5.3. Empirical Evidence for the Model
Test on us data,
Tests,
Trade doesn t align
6  cards
6.1. Imperfect Competition
Monopolistic competition,
Monopolist,
Duopolist
4  cards
6.3. Monopolistic Competition without Trade
Assumption one,
Assumption two,
Assumption three
6  cards
6.5. Monopolistic Competition with Trade
Five trade assumptions,
Short run monopolistic competitio...,
Long run monopolistic competition...
3  cards
6.7. Trade vs No Trade
Gains from trade,
Losses from trade,
Intra industry trade equation
10  cards

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EC3024 (University of Aberdeen)

  • Class purpose General learning

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