14 May DISCUSS THE TRADE STATISTICS OF A COUNTRY (CANADA) DURING THE LAST 25 YEARS
Discuss the trade statistics of a country (Canada) during the last 25 years.
World Economics:
Topic:
Discuss the trade statistics of a countryduring the last 25 years.
Country Chosen: Canada
Grading criteria:
Economic analysis, Connection with class lectures, grammar/spelling errors, Reference to articles in academic journals (Economist, Wall Street Journal), WorldBank and databases highly encouraged.
Material covered in class:
Chapter 1 Trade and the global economy
• exports, imports, trade surplus, trade deficit
• gross domestic product
Chapter 2 Trade and Technology: The Ricardian Model
• absolute and comparative advantage
• differences in: technology, resources, offshoring
• proximity of counties
• factors of productions
• Marginal product of labor
• PPF graph (wages,
Chapter 3 Gains and Losses from Trade in the Specific-Factors Model
• Law of diminishing returns
• Overall gains from trade
• Determination of wages
• Real Wages
• Unemployment
• Trade Adjustment Assistance
Chapter 4 Trade and Resources: the Heckscher-Ohlin Model
• All factors of production move between industries
• 6 assumptions of the Heckscher-Ohlin Model
• No trade equilibrium
• Trade equilibrium
• Effects of wage and rental
• Stolper-Samuelson Theorem
Chapter 5 Movement of Labor and Capital between countries
• Effects of immigration on the short run (specific-factors model)
• Rybczynski theorem
• Effects of immigration on the long run
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