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Search results “Comparative advantage and exchange” for the 2012
Opportunity costs and comparative advantage
 
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Opportunity costs and comparative advantage
Views: 87593 HorowitzEconomics
The Principle of Comparative Advantage - 60 Second Adventures in Economics (4/6)
 
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David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they're relatively best at. (Part 4 of 6) Playlist link - https://www.youtube.com/playlist?list=PLhQpDGfX5e7DDGEQvLonjDQsbclAF2N-t Transcript link - http://podcast.open.ac.uk/feeds/3998_youtubeuploadsfriday/20181031T142703_The_Principle_of_Comparative_Advantage_-_Transcript.pdf Free learning from The Open University - Competitive advantage http://www.open.edu/openlearn/money-management/management/business-studies/competitive-advantage Study a free course on Managing my money at the Open University http://www.open.edu/openlearn/money-management/managing-my-money/content-section-overview?active-tab=description-tab Study R30 BA (Honours) Economics http://www.open.ac.uk/courses/qualifications/r30 The Open University is the world’s leading provider of flexible, high-quality online degrees and distance learning, serving students across the globe with highly respected degree qualifications, and the triple-accredited MBA. The OU teaches through its own unique method of distance learning, called ‘supported open learning’ and you do not need any formal qualifications to study with us, just commitment and a desire to find out what you are capable of. Free learning from The Open University http://www.open.edu/openlearn/ For more like this subscribe to the Open University channel https://www.youtube.com/channel/UCXsH4hSV_kEdAOsupMMm4Qw Like us on Facebook: https://www.facebook.com/ouopenlearn/ Follow us on Twitter: https://twitter.com/OUFreeLearning #OpenUniversity #Economy
Comparative advantage-input
 
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Comparative advantage and opportunity cost-input
Views: 612 HorowitzEconomics
Trade, Production Possibilities, and More Trade
 
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This is the fourth video in the Economics Animated series. This one focuses on the economics of trade. It covers: Voluntary exchange and the gains from trade Production Possibilities Frontiers The opportunity costs of production. Absolute Advantage Comparative Advantage Specialization and Trade
Views: 50379 MikeHammockEconomics
Comparative Advantage
 
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Comparative advantage is one of the deepest and most profound ideas in economics. Should Martha Stewart iron her own shirts? No! We explain why and the implications for trade across countries. If you have covered this material before, consider it optional. This video will be useful for any student in a principles of economics class. Corresponding lesson: http://mruniversity.com/comparative-advantage Help us caption & translate this video! http://amara.org/v/FKbP/
Comparative Advantage Calculation
 
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This is a video of me explaining how to calculate a comparative advantage problem
Views: 7472 SharpeEconomics
Macro 5.3- Foreign Exchange Practice
 
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Foreign exchange practice questions.
Views: 144427 Jacob Clifford
Comparative Advantage
 
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Created at http://goanimate.com/
Views: 121 Kunal Patel
Comparative Advantage.wmv
 
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Comparative Advantage, economics, opportunity cost.
Views: 61 OCCSFECON Moeller
Comparative Advantage 2 Homework Answer
 
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Answer to the "homework question" from the previous video. Corresponding lesson: http://mruniversity.com/comparative-advantage-2-homework Help us caption & translate this video! http://amara.org/v/FKbQ/
Comparative advantage - defined
 
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Comparative advantage - is the advantage one country is said to have over another in the production of a certain commodity if its opportunity cost of producing that commodity is lower than the other countries. - created at http://www.b2bwhiteboard.com
Views: 494 B2Bwhiteboard
Gains from trade step by step
 
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This short video explains how to solve a gains from trade problem, starting with how to determine comparative advantage all the way to calculating gains from trade.
Views: 22996 Kelly DeRango
AP Economics Comparative Advantage and Trade
 
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http://www.amazon.com/No-Bull-Review-Macroeconomics-Microeconomics/dp/1469939290/ref=sr_1_1?ie=UTF8&qid=1341590356&sr=8-1&keywords=no+bull+review In this No Bull Review video for students of AP Economics, we go over Absolute Advantage, Comparative Advantage, and Trade. You will learn how to determine whether a terms of trade will benefit the economies involved. This is No Bull Review video number 3 in the series. For more review and practice questions, check out the No Bull Review books on Amazon and the most downloaded Economics app, "Economics AP," on iTunes. http://itunes.apple.com/us/app/economics-ap/id395030880?mt=8
International Relations 101 (#28): Comparative Advantage and Trade
 
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http://gametheory101.com/courses/international-relations-101/ If states can make some products but not others, trade inherently makes sense. But what if a single state is better at making everything? Is trade still sensible? Surprisingly, it is. States can still specialize in what they are comparatively better at making and reap the benefits from trade. This helps explain why international trade is so pervasive and why states try so hard to promote free trade agreements.
Views: 6625 William Spaniel
Foreign Exchange (FOREX)- Macro 5.2
 
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Mr. Clifford explains the market for foreign exchange and national currencies. If you want more practice watch this video: https://www.youtube.com/watch?v=9DVYVfI81R8
Views: 481461 Jacob Clifford
Economics :: Specialization and Interdependence (Wk 14, Pt A)
 
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VIDEO SUMMARY The two motivations for international trade are the fact that it is voluntary and that it creates wealth. International trade encourages individuals and businesses to specialize - to produce a limited number of goods and services - and leads to worldwide interdependence. Specialization may occur because of particular human or national resources unique to a nation. How a nation decides what to produce is determined by absolute and comparative advantage. VIDEO OBJECTIVES - Explain how specialization encourages trade - Explain how absolute advantages can influence economic choices - Explain how comparative advantages can affect a nation's economy HIGH SCHOOL SOCIAL STUDIES CONTENT EXPECTATIONS (MI) - E.3.2: Economic Interdependence - Trade (3.2.1, 3.2.4) WEEK 14 RESOURCES Instructional Video Notes for Economics :: Week 14 - http://goo.gl/99oDJ Quizlet flashcards for Economics :: Week 14 - http://quizlet.com/_7pyid Information and illustrations, where applicable, are used under 17 U.S.C. § 107 (fair use in teaching and for educational purposes) from Holt Economics (Holt Rinehart & Winston, 1997)
Views: 428 icarpcast
comparatif
 
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Views: 70 Rene Caron
Chapter 2: Trade and Comparative Advantage
 
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Principles of Macroeconomics
Views: 388 Logan Kelly
International trade:  Impact of an import tarrif
 
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An import tarrif increases the production of local goods and increases employment but consumers pay a higher price.
Views: 1200 lostmy1
Balance of Payments and Exchange Rates - AP Free Response Questions Worked Solutions
 
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This lesson presents worked solutions to three AP Free Response Questions on Balance of Payments and Exchange Rates. You may wish to download and attempt these questions yourself before watching the video. Here is the original quiz I gave my AP Macro students: AP Macro Balance of Payments Quiz The original AP Questions and others can be found on the College Board Site: AP Macroeconomics - Sample questions and Scoring guidelines The quiz covers the following questions: 2011 Form B Question #2 2008 Question #2 2007 Form B Question #3 Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 13184 Jason Welker
Determining Comparative Advantage using PPCs - AP FRQ worked solutions
 
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In this lesson we will work our way through several Advanced Placement Free Response Questions and show how, using production data from a PPC or a production possibilities table, we can calculate opportunity costs for particular goods in different countries, and then determine how countries stand to gain from trade based on comparative advantage. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 20153 Jason Welker
Ridley on Comparative Advantage
 
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A short but awesome summary of comparative advantage by Matt Ridley, author of the Rational Optimist.
Views: 607 David A
Rational Choice Theory - 60 Second Adventures in Economics (6/6)
 
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Without a belief in rational behaviour, it's hard to design an economic policy with predictable results. In practice, people's errors or misinformed choices can frustrate policy design. (Part 6 of 6) Playlist link - https://www.youtube.com/playlist?list=PLhQpDGfX5e7DDGEQvLonjDQsbclAF2N-t Transcript link - http://podcast.open.ac.uk/feeds/3998_youtubeuploadsfriday/20181031T123736_Rational_Choice_Theory_-_Transcript.pdf Free learning from The Open University - Economics http://www.open.edu/openlearn/money-management/money/economics Study a free course on Managing my money at the Open University http://www.open.edu/openlearn/money-management/managing-my-money/content-section-overview?active-tab=description-tab Study R30 BA (Honours) Economics http://www.open.ac.uk/courses/qualifications/r30 The Open University is the world’s leading provider of flexible, high-quality online degrees and distance learning, serving students across the globe with highly respected degree qualifications, and the triple-accredited MBA. The OU teaches through its own unique method of distance learning, called ‘supported open learning’ and you do not need any formal qualifications to study with us, just commitment and a desire to find out what you are capable of. Free learning from The Open University http://www.open.edu/openlearn/ For more like this subscribe to the Open University channel https://www.youtube.com/channel/UCXsH4hSV_kEdAOsupMMm4Qw Like us on Facebook: https://www.facebook.com/ouopenlearn/ Follow us on Twitter: https://twitter.com/OUFreeLearning #OpenUniversity #Economy
Gains from Trade.mp4
 
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Views: 247 Phil Klein
Trilemma
 
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This clip discusses the open economy policy trilemma, which states that any country can choose always only two of the following three desirable options: (1) Monetary policy autonomy to target domestic activity; (2) free capital flows and (3) exchange rate stability. Broadly, the international financial system focused (a) during post-WWII decades on (2) and (3) and (b) during recent decades on (1) and (2). While the exchange rate can act as an automatic stabilizer under (b), it is not clear that maintenance of internal and external balance has become any easier.
Comparative Advantage
 
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This is a very basic introduction a very common topic in Econ 1, the wealth that comes from specialization and trade based on comparative advantage. It has subtitles that can be translated into any of 178 languages. As always, responses and constructive comments are welcome.
Views: 1266 mcneilecon
Ricardian model basics
 
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Views: 77341 Mike Moore
Absolute Advantage
 
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Views: 7192 OCCSFECON Moeller
IB HL Economics Comparative advantage
 
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Comparative advantage, wellingtoncollege, economics
Views: 860 Tommy Arma
ComparativeAdvantage.avi
 
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This video explains the concept of comparative advantage. Comparative advantage means that both of two countries can gain from trade even if one country has an absolute advantage in all sectors. The reason is that each country will have higher relative labor productivity in one sector.
Paul Davidson - Legal Arbitrage Is Not Comparative Advantage 4/4
 
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In the fourth and final part of this four-part INET "From the Director's Chair" interview, INET Executive Director Robert Johnson talks with Journal of Post Keynesian Economics co-founder Paul Davidson about Davidson's book The Keynes Solution: The Path to Global Economic Prosperity. Davidson explores Ricardo's often-misunderstood idea of comparative advantage in a modern context. The concept is best applied to natural resources and agriculture, Davidson says, which was what the global economy consisted of when Ricardo was writing. But times have changed, and the notion of comparative advantage has been over-extended to apply to very different phenomena. Lower manufacturing costs due to a lack of labor laws isn't a comparative advantage, Davidson says, but is instead a form of legal arbitrage that has nothing to do with Ricardo's original idea. "American entrepreneurs could easily compete with the Chinese if we allow child labor," Davidson says. This "legal technicality" is not what Ricardo had in mind as a real comparative advantage
Views: 1671 New Economic Thinking
Currency Swaps with a Numerical Example
 
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Concepts of Currency Swaps with an Example to Unwind Explained
Views: 104275 collegefinance
EXCHANGE with sound
 
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If something I own is worth to me much less than what someone else values it, exchange will benefit both of us. Comparative Advantage demonstrates this idea.
Views: 20 Ugur Aker
RicardianTrade.avi
 
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This clip explains Ricardian trade in a two country, two goods, one factor world. Emphasis is placed on the derivation of a diagram of relative world supply and demand, and on how the gains from trade materialize for both countries. The argument follows the standard textbook by Krugman & Obstfeld.
How to calculate opportunity costs
 
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This video goes over the process of calculating opportunity costs. Generally, opportunity costs involve tradeoffs associated with economic choices. Specifically the opportunity cost is the value of the best available alternative (that you have given up). This video goes over my personal method to make sure the opportunity costs are calculated correctly. More information about this is available at: http://www.freeeconhelp.com/2011/09/calculating-marginal-and-total.html
Views: 488945 Free Econ Help
Micro 2.8 Tariffs and Quotas
 
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Mr. Clifford explains how to show the effects tariffs and quotas on a supply and demand graph. The days I filmed this video were in "spirit week". One day was sports day (that's why I'm dressed like a coach) and the other day was Tomorowland day. I apologize for my bad southern accent. I led a training in Athens, GA in the summer and I loved it. Southern hospitality is real. Thanks for watching, Please subscribe. Get the Ultimate Review Packet http://www.acdcecon.com/#!review-packet/czji Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 211850 Jacob Clifford
Terms of trade
 
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This video introduces the concept of "terms of trade." Particular focus is on terms of trade "improvement" and "deterioration" for an exporting country.
Views: 11200 Mike Moore
Macro 5.1- Balance of Payments
 
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In this video I explain the Balance of Payments with the current and capital (financial) account. Keep in mind that when a country has a deficit in one account they must have a surplus in the other account. Thanks for watching. Please subscribe. To learn about misconceptions about the minimum wage, click here https://www.youtube.com/watch?v=4GIdROzO94M To learn more economics, click here https://www.youtube.com/watch?v=HQkVO2PsxFw Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Check out my Review Apps for Macro and Micro https://itunes.apple.com/us/app/ap-macroeconomics-review/id634270093?mt=8 Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 395031 Jacob Clifford
Illustrating the Gains from Trade in a Supply and Demand Diagram
 
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Free trade leads to an increase in total welfare in society as the benefits to consumers usually outweigh the loss of welfare among producers. This claim will be supported using basic supply and demand analysis of the impact of a once closed market opening up to trade with foreign countries. The principle of comparative advantage will be explained, and we will brainstorm reasons why a country may have a comparative advantage in a particular good over potential trading partners. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 14578 Jason Welker
The relationship between the Current Account Balance and Exchange Rates
 
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This lesson will illustrate how trade flows should lead to appreciation and depreciation of currencies in a floating exchange rate system, and then explain how in the case of China, central bank policy aimed at buying large quantities of US government debt keeps the supply of Chinese currency high in the US and the demand for US dollars high in China. This means the dollar remains stronger than it otherwise might relative to the Chinese RMB, contributing to the persistent trade deficits the US exhibits in its trade with China. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 117316 Jason Welker
PPFandOC.avi
 
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This video presents an introduction to the concepts of the "production possibility frontier" and "opportunity cost."
Protectionist Tariffs
 
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In the the previous lesson, we showed the gains from trade enjoyed by consumers in a nation that has opened its markets to imports from nations which have a comparative advantage in the good being traded. In this lesson, we will examine the impact that a protectionist tariff imposed by the government on an imported good will have on domestic consumers, domestic producers, foreign producers and overall welfare in the market. As we will see, a tariff on imports leads to a loss of total welfare in a market as the costs imposed on consumers in the form of higher prices typically outweigh any benefit enjoyed by producers who see sales increase and the government which generates a small amount of tax revenue. Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 13326 Jason Welker
Ricardian model assumptions
 
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This video introduces the primary assumptions of the Ricardian model. These include, among others, perfect competition in output and factor markets. For each, the implications of the assumption are explored. For example, the full employment condition leads to the derivation of the production possibilities frontier (PPF) in the Ricardian model.
Views: 15622 Mike Moore
Collaborating to Maximize Comparative Advantage
 
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Jennifer Barsky, Partnerships Coordinator, International Finance Corporation Nyaradzayi Gumbonzvanda, General Secretary, World YWCA Romesh Muttukumaru, Deputy Assistant Administrator, Partnerships Bureau, UNDP Moderator: Heather Grady, Vice President, Foundation Initiatives, The Rockefeller Foundation
Views: 106 GPF Org
20.0 - International Trade & Currency Exchange - Economics With Tully
 
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An overview of international trade issues, including Theories of Free Trade, Protectionist measures and their effects, and Floating Currency Exchange. Originally developed for use in the Antioch New England Graduate School Intro to Economics course, but adapted for general use.
Views: 558 Thom Simmons