Home
Search results “Comparative advantage and exchange” for the 2015
Specialization and Trade: Crash Course Economics #2
 
09:04
In which Adriene Hill and Jacob Clifford teach you about specialization and trade, and how countries decide whether they're going to make stuff or trade for stuff. You'll learn about things like comparative advantage, the production possibilities frontier and how to make pizza! Crash Course is now on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark Brouwer, Jan Schmid, Anna-Ester Volozh, Robert Kunz, Jason A Saslow, Christian Ludvigsen, Chris Peters, Brad Wardell, Beatrice Jin, Roger C. Rocha, Eric Knight, Jessica Simmons, Jeffrey Thompson, Elliot Beter, Today I Found Out, James Craver, Ian Dundore, Jessica Wode, SR Foxley, Sandra Aft, Jacob Ash, Steve Marshall TO: Sarah M. FROM: Anthony M. "Making our own history awesome! Happy 3 year Anniversary!" TO: Everyone FROM: Someone "The earth is but one country, and mankind its citizens." Thank you so much to all of our awesome supporters for their contributions to help make Crash Course possible and freely available for everyone forever: Nathanial R. Castronovo, Eefje Savelkoul, Nupur Maheshwari, Jacob J., Dominik Steenken, Shai Belfer, Stefan Bjerring Henriksen James Kribs, Hugo Jobly, Tim Eramo Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1603565 CrashCourse
Comparative Advantage - Consuming Beyond The PPF
 
06:07
Comparative Advantage Theory 2 - Another video on the law of comparative advantage
Views: 35508 EconplusDal
Comparative Advantage
 
07:15
What is comparative advantage? And why is it important to trade? This video guides us through a specific example surrounding Tasmania — an island off the coast of Australia that experienced the miracle of growth in reverse. Through this example we show what can happen when a civilization is deprived of trade, and show why trade is essential to economic growth. In an economy with a greater number of participants trading goods and services, there are more ways to find a comparative advantage and earn more by creating the most value for others. Let’s dive right in with an example from our new friends, Bob and Ann. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1QEYD77 Next video: http://bit.ly/21gU5IU Help us caption & translate this video! http://amara.org/v/GLJf/
Law of Comparative Advantage
 
12:31
Comparative Advantage Theory - A look at David Ricardo's theory of comparative advantage
Views: 94752 EconplusDal
Comparative Advantage
 
12:05
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. Development Economics course: http://mruniversity.com/courses/development-economics-0 Ask a question about the video: http://mruniversity.com/courses/development-economics/comparative-advantage#QandA Next video: http://mruniversity.com/courses/development-economics/comparative-advantage-2-homework
The Gains from International Trade in the Demand and Supply model
 
09:46
International trade results in an increase in efficiency and total welfare among consumers and producer in the countries that participate in it. This is a thesis presented by advocates of free trade all the time. This lesson provides a simple illustration of the gains from trade experienced by an exporting and an importing nation, showing the increases in consumer and producer surplus and total welfare resulting from specialization 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: 48331 Jason Welker
Comparative advantage
 
12:05
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. International Trade course: http://mruniversity.com/courses/international-trade Ask a question about the video: http://mruniversity.com/courses/international-trade/comparative-advantage#QandA Next video: http://mruniversity.com/courses/international-trade/comparative-advantage-2-homework Help us caption & translate this video! http://amara.org/v/HuvA/
The Gains from International Trade in the PPC Model
 
09:57
Now that we've established the difference between absolute and comparative advantage, we can proceed to how countries stand to gain from trade when they specialize in and produce the goods for which they have a comparative advantage. In this lesson we will explain how a "real exchange rate" can be determined between two goods and two countries that is mutually beneficial for both countries and then show how trade can increase the total possible level of consumption and effectively shift the PPC curve outwards. 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: 30079 Jason Welker
HW Tutorial: Comparative Advantage (Ricardian Economics)
 
15:52
This video presents a "classic" Ricardian comparative advantage problem. Homework aid/ midterm 1 review for microeconomics.
Views: 406 Tyler Watts
Comparative Advantage Homework
 
05:15
Make sure you’ve completed the homework introduced in the Comparative Advantage video before you watch this video, as we’ll be going over the answer. We take a look at our example which compares shirt and computer production and consumption in Mexico and the United States. At the end of this video, you’ll have a better understanding of why it makes sense for countries to engage in trade. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1KLdTNk Next video: http://bit.ly/1Tztq3W Help us caption & translate this video! http://amara.org/v/GLJh/
Comparative Advantage
 
13:14
Describes how to calculate comparative advantage and terms of trade.
Views: 5664 Tamra Carl
Absolute and Comparative Advantage - An Example
 
06:18
A 2-country 2-product example showing how to calculate absolute and comparative advantage.
Views: 2684 T M Tonmoy Islam
Criticisms of Comparative Advantage
 
05:21
Comparative Advantage Evaluation - A detailed understanding of the evaluations points that can be used to breakdown the law of comparative advantage in the real world
Views: 32660 EconplusDal
Imports, Exports, and Exchange Rates: Crash Course Economics #15
 
10:11
What is a trade deficit? Well, it all has to do with imports and exports and, well, trade. This week Jacob and Adriene walk you through the basics of imports, exports, and exchange. So, you remember the specialization and trade thing, right? So, that leads to imports and exports. Economically, in the aggregate, this is usually a good thing. Globalization and free trade do tend to increase overall wealth. But not everybody wins. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 1040228 CrashCourse
Determining Absolute and Comparative Advantage
 
09:14
Why do nations stand to gain from trading with one another, and how should a nation determine the goods it should specialize in and which it should import? To answer these questions we must introduce some basic concepts of International Trade: absolute and comparative advantage. This lesson introduces these two concepts and uses a simple PPC model to determine how two countries should allocate their resources towards the production of a particular good to maximize the benefit they derive from trading with one another. In the next lesson we'll learn how to illustrate the potential gains from trade in the PPC diagram. 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: 65075 Jason Welker
Another Look at Comparative Advantage
 
12:24
Comparative advantage explains why people trade and what goods they should trade. To illustrate the concept of comparative advantage, we ask: Should Martha Stewart iron her own shirts? Even if Martha Stewart has an absolute advantage in ironing shirts, her opportunity cost is simply too high! We’ll go over the concepts of absolute advantage and opportunity cost in depth using more examples, too. Ready to test your knowledge? We introduce several homework questions in this video and we’ll cover the answers in another video in this section. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1XNc3NS Next video: http://bit.ly/1VETMRp Help us caption & translate this video! http://amara.org/v/GLJg/
Comparative Advantage and Gains from Trade
 
15:16
Trade based on comparative advantage; gains from trade.
Views: 409 Waldonomics
Sources of Comparative Advantage
 
08:03
This video discusses several factors that contribute to comparative advantage. Differences in geography, climate and natural resources give some countries a comparative advantage over others. In fact, Classical economist David Ricardo first wrote about this in the context of why it made sense for Portugal to produce wine and for England to produce cloth. Different countries may also have different proportions of capital to labor, or high-skill labor to low-skill labor. Increasing returns to scale, which are created by trade as opposed to existing naturally before trade, shows that specialization increases productivity. Finally, as we've discussed in other courses, institutions matter! International Trade course: http://mruniversity.com/courses/international-trade Ask a question about the video: http://mruniversity.com/courses/international-trade/sources-comparative-advantage#QandA Next video: http://mruniversity.com/courses/international-trade/evidence-comparative-advantage-japan
Evidence on Comparative Advantage from Japan
 
05:01
Is there real-world evidence of the gains from trade? Many studies show that trade and economic growth are positively correlated, but it's less clear whether trade causes growth or growth causes countries to trade. To shed some light, we need a natural experiment, and find one by examining the history of Japan. Japan enforced seclusion policies from about 1639-1859, when they finally opened up to trade. From that point on, trade was mostly free. Japan benefited from exporting goods like tea and silk, and imported goods like cotton textiles and iron. Japan gained not only from trading for these goods, but over time, for these technologies. International Trade course: http://mruniversity.com/courses/international-trade Ask a question about the video: http://mruniversity.com/courses/international-trade/evidence-comparative-advantage-japan#QandA Next video: http://mruniversity.com/courses/international-trade/trade-and-variety
The Best Competitive Advantage Revealed
 
01:05
Request a Demo Now: http://www.hublinked.com/demo/ Let us show you how HubLinked will increase your teams productivity and make it easier to collaborate! HubLinked lets you keep your team engaged, while allowing them the flexibility to work from anywhere. Mentor. Share. Organize documents. Assign priorities and view messages all in one beautifully integrated space. Why HubLinked? Imagine being able to login from anywhere in the world into a portal that gives you access to you’re entire organization, and what you have to do within it. That’s HubLinked… It allows you to see what has to get done, learn/mentor others and collaborate on what counts. The UI has been inspired by popular social networks to create an easy way to get productive, and move you’re company forward. Community HUB Collaborate and stay up-to-date with your entire organization, in a more social way. Groups HUB Ensure project success with full team collaboration. Groups HUB allows you to have all related files, tasks, and conversations organized. Events HUB Never miss a deadline again! Have all your work events, priorities and project deadlines in one amazing calendar. Mentor HUB The Mentor Hub allows you to foster mentoring and innovation within your entire organization. Read the top liked content, and learn more within each category.
Views: 173 HubLinked
Specialization and Comparative Advantage
 
11:32
"Even those with an 'absolute advantage' benefit from free trade and specialization." AEI scholar Derek Scissors explains the benefit of specialization and the leveraging of comparative advantage as part of this Tax Foundation University lecture series on the economics of trade.
Views: 217 TaxFoundation
Specialization in Ricardian model
 
07:49
In this video I explain how to determine whether a country will specialize in a particular product.
Views: 607 sashaskiba
Exercises 1-6. Chapter 3. Interdependence and the gains from trade.
 
29:40
Exercises 1-6. Chapter 3. Interdependence and the gains from trade. Gregory Mankiw. Principles of Economics . 1. Consider the farmer and the rancher from our example in this chapter. Explain why the farmer’s opportunity cost of producing 1 pound of meat is two pounds of potatoes. Explain why the rancher’s opportunity cost of producing 1 pound of meat is 1/8 pounds of potatoes. 2. Maria can read 20 pages of economics in an hour. She can also read 50 pages o sociology in an hour. She spends 5 hours per day studying. A. Draw Maria’s production possibilities frontier for reading economics and sociology. B. What is Maria’s opportunity cost of reading 100 pages of sociology 3. Americans and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, where as a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers. A. For this situation, construct a table analogous to table 3-1. B. Graph the production possibilities frontier of the American and Japanese economies. C. For the United States, what is the opportunity cost of a car? Of grain? For Japan, what is the opportunity cost of a car? Of grain? Put the information in a table analogous to table 3-3. D. Which country has an absolute advantage in producing cars? In producing grain? E. Which country has a comparative advantage in producing cars? In producing grain? F. Without trade, half of each country’s workers produce cars and half produce grain. What quantities of cars and grain does each country produce? G. Starting from a position without trade, give an example in which trade makes each country better off. 4. Pat and Kris are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Pat takes 4 hours to brew a gallon of root beer and 2 hours to make a pizza. Kris takes 6 hours to brew a gallon of root beer and 4 hours to make a pizza. a. What is each roommate’s opportunity cost of making a pizza? Who has the absolute advantage in making pizza? Who has the comparative advantage in making pizza? b. If Pat and Kris trade foods with each other, who will trade away pizza in exchange for root beer? C. The price of pizza can be expressed in terms of gallons of root beer. What is the highest price at which pizza can be traded that would make both roommates better off? What is the lowest price? Explain. 5. Suppose that there are 10 million workers in Canada, and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. a. What is the opportunity cost of producing a car in Canada? What is the opportunity cost of producing a bushel of wheat in Canada? Explain the relationship between the opportunity costs of the two goods. B. Draw Canada’s production possibilities frontier. If Canada chooses to consume 10 million of cars, how much wheat can it consume without trade? Label this point on the production on the production possibilities frontier. C. Now suppose that the United States offers to buy 10 million of cars from Canada in exchange for 20 bushels of wheat per car. If Canada continues to consume 10 million cars, how much wheat does this deal allow Canada to consume? Label this point on your diagram. Should Canada accept the deal? 6. Consider a professor who is writing a book. The professor can both write the chapters and gather the needed data faster than anyone else at his university. Still, he pays a student to collect data at the library. Is this sensible? Explain.
Views: 5453 Economics Course
Gains from Free Trade
 
08:52
Gains from Free Trade - A detailed look at the benefits arising from free trade Comparative Advantage Video - https://www.youtube.com/watch?v=YboSszwySzU
Views: 56245 EconplusDal
International Marketing : Trade Theory | Comparative Cost theory
 
16:55
Management International Marketing International Marketing : Trade Theory | Comparative Cost theory Trade Theories 2, 00:05 - 06:40, Comparative cost advantage theory, David Ricardio, Describing the theory comparative cost advantages, Assumption on which David Ricardio theory was based, Two Country Two Commodity model of David Ricardo theory, Example of Two Country Two Commodity model, Rate of Exchange in comparative advantage, 06:45 - 09:45, Evaluation on which the David Ricardio theory was based, Important landmark in development of theory of international trade, 09:47 - 13:10, Opportunity Cost Theory: Drawback of David Ricardio based theory, Gottfried Haberler theory, Restating Comparative Cost theory as Opportunity Cost Theory, Opportunity cost theory is refining of the Comparative Cost Theory, 13:15 - 16:54 Differentiating Absolute Cost Theory And Comparative Advantage Theory, Trade is not mutually beneficial in both theory, Robert Torrens in 1815 first described Comparative advantages, Click on the Link for online Video for International Marketing : https://youtu.be/GuDgPuyJlbY Video by Edupedia World (www.edupediaworld.com), Online Education, All Right Reserved.
Views: 1642 Edupedia World
PPP (Purchasing Power Parity) Exchange Rates
 
10:39
PPP (Purchasing Power Parity) Exchange Rates - A video that looks at PPP (purchasing power parity) with respect to exchange rates
Views: 200437 EconplusDal
The Law of Absolute and Comparative Advantage
 
14:33
https://www.ft.com/content/d07fc8d0-d304-11e7-8c9a-d9c0a5c8d5c9
Views: 356 G Conomics
Sources of Comparative Advantage | Microeconomics
 
02:13
https://goo.gl/mlTNMO for more FREE video tutorials covering Microeconomics.
Views: 232 Spoon Feed Me
Absolute and Comparative Advantage | Microeconomics
 
02:29
https://goo.gl/hv2y29 for more FREE video tutorials covering Microeconomics.
Views: 232 Spoon Feed Me
What is Absolute advantage by Adam Smith? BA Economics(Social Science) Gurukpo
 
02:46
Ms. Nupur Sharma, Assistant Professor, Biyani girls College explained about the trade theories : trade based on absolute advantage by Adam Smith. www.gurukpo.com, www.biyanicolleges.org
Views: 44512 Guru Kpo
The Heckscher-Ohlin Theorem
 
08:03
This video covers how differences in factor endowments affect trade, as is demonstrated through the Heckscher-Ohlin Theorem. Under some simple assumptions, the models discussed in this video demonstrate that capital-intensive countries will export capital-intensive products, and labor-intensive countries will export labor-intensive products. For more on the models discussed in this video, see the textbook "International Trade" by Robert Feenstra and Alan Taylor. International Trade course: http://mruniversity.com/courses/international-trade Ask a question about the video: http://mruniversity.com/courses/international-trade/heckscher-ohlin-theorem-model#QandA Next video: http://mruniversity.com/courses/international-trade/evidence-heckscher-ohlin-theorem
AP Microeconomics - Specialization, Comparative/Absolute Advantage, and Benefits From Trade
 
05:54
We will talk about Adam Smith's pin factory example, advantages in trading and within industries, and benefits from trade.
Views: 201 Summit Tutoring
David Ricardo's Model 1
 
14:49
This video explains David Ricardo's theory of Comparative Advantage This is the twenty second of 50 lecture videos on International Economics. The playlist on International Economics contains a complete set of lecture videos that I use in my one semester course in undergraduate International Economics.
Views: 739 Anil Lal
Intra Industry Trade
 
13:09
When we think of trade, we often think of comparative advantage. But what if a country exports and imports similar goods? This is considered intra-industry trade. Consider: in 2010, the US exported $1 billion in motorcycles. The US then imported $1.2 billion in motorcycles — very similar to the amount exported. Intra-industry trade has become increasingly important as a percentage of world trade, and varies by industry. For instance, there is high intra-industry trade in the US for scientific and pharmaceutical products, but low intra-industry trade in the US for clothing and apparel. This video also covers how to measure intra-industry trade by country. International Trade course: http://mruniversity.com/courses/international-trade Ask a question about the video: http://mruniversity.com/courses/international-trade/intra-industry-trade#QandA Next video: http://mruniversity.com/courses/international-trade/unbundling-supply-chain
Introduction to Ricardo
 
08:27
David Ricardo is best known today for his pioneering articulation of the theory of comparative advantage -- the idea that trade is most mutually beneficial when parties specialize according to their relative opportunity costs and then trade. But comparative advantage is only one part of Ricardo's extensive analyses of the determinants of rents and the distribution of income. He developed his ideas in the context of government restrictions on trade, first from blockades during the Napoleonic Wars and the Corn Laws that Parliament passed to restrict imports of grains into the UK. Great Economists: Classical Economics and its Forerunners course: http://mruniversity.com/courses/great-economists-classical-economics-and-its-forerunners Ask a question about the video: http://mruniversity.com/courses/great-economists-classical-economics-and-its-forerunners/introduction-ricardo#QandA Next video: http://mruniversity.com/courses/great-economists-classical-economics-and-its-forerunners/ricardo-rent
50.  CFA Level 1 Macroeconomics International Trade and Capital Flow LO3 Part 1
 
10:12
All 10 Level 1 topics are available on this channel. If you like what I am doing, then be a friend: 1. Click subscribe so that you will be notified of all new uploads 2. Click like (the more likes these videos get, the better they show up in search results) 3. Don't click dislike!! That does not help me improve the content and delivery. If you don't like something, leave a comment, politely of course. 4. Click Share - help other find what you have found. REQUIRED DISCLAIMER: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Mark Meldrum. CFA ® are trademarks owned by CFA Institute.
Views: 8332 Mark Meldrum
International Trade Introduction
 
02:35
This course takes a look at the basic theories of international trade and the consequences of trade in today's global economy. You'll have the opportunity to learn more about fundamental ideas such as comparative advantage, increasing returns to scale, factor endowments, and arbitrage across borders. The consequences we discuss include the effects of offshoring, how trade has shaped the economies of China, Mexico, and Korea, when foreign direct investment is desirable, and the history of free trade and tariffs, among other topics. Trade is a topic of increasing importance and this material will give you a better grasp on the theories and empirics as they have been developed by economists. International Trade course: http://mruniversity.com/courses/international-trade Next video: http://mruniversity.com/courses/international-trade/comparative-advantage
Chapter 8 International Trade
 
10:31
In Chapter 8 International Trade you will learn: How comparative advantage leads to mutually beneficial international trade The sources of international comparative advantage Who gains and who loses from international trade, and why the gains exceed the losses How tariffs and import quotas cause inefficiency and reduce total surplus Why governments often engage in trade protection to shelter domestic industries from imports and how international trade agreements counteract this This video was made of student slide of Paul Krugman and Robin Well's Economics, Third Edition published in 2013 by Worth Publishers. This video along with others in this playlist are made in order to give students more access to material in most confortable way. The usage of this video and others was originally introduced to students taking class of Introduction and Theory of Microeconomics in Department of Islamic Economics, Faculty of Islamic Studies, Islamic University of Indonesia. Further details can be found in links below: Yuli Andriansyah http://yuliandriansyah.com Department of Islamic Economics http://islamic-economics.uii.ac.id Faculty of Islamic Studies http://fis.uii.ac.id Islamic University of Indonesia http://www.uii.ac.id
Views: 790 Yuli Andriansyah
68.  CFA Level 1 Macroeconomics Currency Exchange Rates LO6
 
09:03
All 10 Level 1 topics are available on this channel. If you like what I am doing, then be a friend: 1. Click subscribe so that you will be notified of all new uploads 2. Click like (the more likes these videos get, the better they show up in search results) 3. Don't click dislike!! That does not help me improve the content and delivery. If you don't like something, leave a comment, politely of course. 4. Click Share - help other find what you have found. REQUIRED DISCLAIMER: CFA Institute does not endorse, promote, or warrant the accuracy or quality of the products or services offered by Mark Meldrum. CFA ® are trademarks owned by CFA Institute.
Views: 7565 Mark Meldrum
Birdsnest and StarTrack: A Competitive Advantage
 
00:41
“Birdsnest hatched in Cooma five years ago with a staff of six and a philosophy of putting smiles on girls’ faces. Now shipping over half a million fashion items a year, Birdsnest relies on StarTrack to deliver their products from Cooma right across the country. They offer 365 days to return an item and their customers can easily do so at over 20,000 returns locations Australia-wide. Whether it’s a return, exchange or delivery, StarTrack makes this all possible.” Learn more: http://www.startrack.com.au/advantage/
Views: 147142 StarTrack