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International Trade
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CC BY
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Historically, international trade has played a critical role in enabling countries to grow, develop, and become economically powerful. Through international trade in goods and services, the economies of different countries are more closely linked to one another now than ever before. At the same time, the world economy is more turbulent now than it has been in decades. Keeping up with the shifting international environment has become a central concern in business strategy and national economic policy. This course uses the same fundamental methods of analysis deployed in other branches of economics, as the motives and behavior of individuals and firms remain the same whether they are in the context of international trade or domestic transactions. The student will learn, however, that international trade introduces an entirely new and different set of concerns as well. Upon successful completion of this course, the student will be able to: Have a good understanding of the fundamentals of global economics; Have a rounded overview of the modern international trade theory; Understand the current world trading system and the basic rules underlying this system; Study and discuss historic, current, and emerging economic models in the United States and around the world; Understand recent developments in the field of international macroeconomics and perform an independent study in this field; Acquire and demonstrate analytical and problem solving skills to discuss and analyze the global economic environment within which business operate; Acquire an analytical framework to examine contemporary international economic issues; Acquire a general overview of international trade, the foreign exchange markets, and the issues arising from the globalization of markets; Understand the concepts of foreign exchange, its importance to individuals, businesses, and the performance of national economies, and how foreign exchange markets work; Analyze policy issues related to international trade; Understand the legal system governing international economic transactions and international economic relations; Assess actual dispute settlement proceeding and discuss several dispute settlement cases that address a wide variety of issues such as antidumping, subsidy, safeguard, and environment; Answer the four trade questions: 'Why do countries trade?,' 'How does trade affect production and consumption in each country?,' 'Which country gains from trade?,' and 'Within each country, who are the gainers and losers from opening trade?' (Economics 307)

Subject:
Economics
Material Type:
Full Course
Provider:
The Saylor Foundation
Date Added:
04/29/2019
Principles of Economics: Understanding Opportunity Cost, Comparative advantage, and Absolute Advantage
Conditional Remix & Share Permitted
CC BY-NC-SA
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In principles of economics students many times have trouble understanding the concept of opportunity cost, connecting opportunity cost to comparative advantage, and differentiating between absolute advantage and comparative advantage. This activity allows the instructor to detect whether a large number of students exhibit any of these misconceptions, and then focus on the most problematic concepts in class.

Subject:
Business and Communication
Economics
Material Type:
Activity/Lab
Provider:
Science Education Resource Center (SERC) at Carleton College
Provider Set:
Teaching and Learning Economics (SERC)
Author:
Marcelo Clerici-Arias
Date Added:
04/04/2019
Principles of Macroeconomics 2e
Unrestricted Use
CC BY
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Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

Subject:
Economics
Material Type:
Full Course
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
06/29/2017
Principles of Macroeconomics 2e, Globalization and Protectionism, International Trade and Its Effects on Jobs, Wages, and Working Conditions
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CC BY
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By the end of this section, you will be able to:

Discuss how international trade influences the job market
Analyze the opportunity cost of protectionism
Explain how international trade impacts wages, labor standards, and working conditions

Subject:
Applied Science
Material Type:
Module
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
09/20/2018
Principles of Macroeconomics 2e, Welcome to Economics!, What Is Economics, and Why Is It Important?
Unrestricted Use
CC BY
Rating

By the end of this section, you will be able to:

Discuss the importance of studying economics
Explain the relationship between production and division of labor
Evaluate the significance of scarcity

Subject:
Applied Science
Material Type:
Module
Provider:
Rice University
Provider Set:
OpenStax College
Date Added:
09/20/2018