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International Economics: The Ricardian Model of Trade: Part 1 - The Farmer and the Rancher
Автор: DrAzevedoEcon
Загружено: 2024-02-27
Просмотров: 33391
Описание:
In this group of videos, I discuss labor productivity and comparative advantage. These concepts are illustrated with a model known as the Ricardian model of trade. This video is part 1.
0:01 labor productivity model (aka the Ricardian model)
0:50 the farmer and the rancher
6:00 drawing the PPF
16:19 trade in the simple model
21:30 the gains from trade
27:30 the source of the gains: comparative advantage
33:20 understanding why a particular trade creates gains for each person
Dr. Azevedo
Department of Economics and Finance
University of Central Missouri
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