Premium Essay

Assignment 1 - International Econs

In:

Submitted By hoanhtien
Words 255
Pages 2
EC 3341 International Economics I Fall 2012 National University of Singapore Assignment 1: Labor Productivity and Comparative Advantage: The Ricardian Model

The due date for this assignment is 11:59am, September 3 2012 (submission in hardcopy to your respective tutor) 1. Home has 5 units of labor available. Each labor can produce either 4 cars or 3 TVs. (a) Graph Home’ production possibility frontier (PPF). s (b) What is the opportunity cost of cars in terms of TVs? (c) In the absence of trade, what would the price of cars in terms of TVs be? Why?

2. Home is as described in Problem 1. There is now also another country, Foreign, with a labor force of 5. Each labor in Foreign can produce either 3 cars or 4 TVs. And assume world relative demand takes the following form: Demand for cars/demand for TVs=price of TVs/price of cars. (a) Construct the world relative supple curve. (b) Graph the relative demand curve. (c) What is the equilibrium relative price of cars? (d) What good will each country specialize in? and Why? (e) Describe the pattern of trade.

3. Assume that the number of labor doubles in Home. (a) What happens to the Home PPF? (b) What is the no-trade equilibrium relative price of cars (in terms of TVs) in Home? (c) With free trade, construct the new world relative supply curve (d) What is the new equilibrium relative price of cars? (e) What is the new pattern of production and trade?

1

Similar Documents

Free Essay

Economy

...ECON 2013 Paper Fall 2012 Term: Written Assignment #1: Econ MIA Photo + Essay International airports are typically the engine and lifeblood of economic activities as they typically pump billions of dollars to a local economy. The Miami economy is highly dependent on the tourism, cargo and export/import industries as these are a tremendous source of employment and tax revenue for the city and arguably one of the main contributors to the tourism and export and import industries in any city is its main airport. Miami International Airport (MIA) is no exception to this cardinal rule as it contributes the following statistics to the city of Miami according to the Miami International Airport Website (http://www.miami-airport.com/about_us.asp) and Time Magazine: • an estimated economy impact of $26.7 billion • 282,000 direct and indirect jobs • 1 out of 4 jobs to the local economy • a capital improvement program of $6.2 billion • Nation’s second largest airport for international passengers and cargo • Approximately handles 38 million passengers a year • Largest cut-flower operation in the world (15000 boxes of buds from South America) • 1143 weekly flights to Latin America (largest gateway to Latin America) • 98% of all visitors to Miami arrive by air at MIA • 13.5 million passengers a year between MIA and Latin America • American Airlines with a hub in MIA is the city’s largest private employer The aforementioned statistics are eye popping when one considers that...

Words: 516 - Pages: 3

Premium Essay

Esrgt

...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................

Words: 77086 - Pages: 309

Premium Essay

Business

...University of California, Santa Cruz Economics 135: Corporate Finance Instructor: Prerequisites: Lecture Times: Location: Section Times: Professor Nirvikar Singh Econ 10A, Econ 100A or 100M, Econ 113 MWF 3:30-4:40 pm Kresge 321 Tu 8:30-9:40AM Th 6:00-7:10PM Th 7:30-8:40PM F 11:00AM-12:10PM Winter Quarter, 2014 Baskin 165 Baskin 165 Baskin 165 Baskin 372 Wentao Su Jeffrey Hancuff Jeffrey Hancuff Wentao Su Office Hours: Location: Email: M 11-12, Th 1-2, or by appointment Engineering 2 Bldg, Room 421 boxjenk@ucsc.edu Teaching Assistants: Jeffrey Hancuff and Wentao Su Office Hours: TBD Locations: TBD Midterm Exam 1: Midterm Exam 2: Final Project Due: Monday, February 3 (in class) Monday, March 17 (in class) Thursday, March 20, 12 noon, delivered to TA mailbox Course Description and Objectives This course is an introduction to the financial management of a business. Topics include techniques for the valuation of future cash flows and of financial assets such as stocks and bonds; rules for managing cash and allocating capital in the short run and long run while taking account of costs, returns and risks; and the role of financial markets in guiding or facilitating these decisions. After taking this class, you will – I hope – be able to better understand and discuss financial news, know about the central financial aspects of running your own business, be able to work in the finance department of a firm, and be prepared for more advanced studies in finance. Required...

Words: 615 - Pages: 3

Premium Essay

Admission

...career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected member of the business world. Karmen Rempel, CGA Manager Grant Thornton LLP Vancouver, British Columbia Why CGA? There are many reasons why CGA is the fastest-growing accounting designation in Canada. With CGA, you can: 1. Pursue unlimited career opportunities in the business or enterprise of your choice. 2. Develop the wide range of skills needed to take on leadership, senior...

Words: 4906 - Pages: 20

Premium Essay

Econ 102 Complete Course (American Public University)

...ECON 102 Complete Course (American Public University) IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/ECON-102-Complete-Course-American-Public-University-1111118.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com 8 – Week Course Outline Please see theStudent Handbook to reference the University’sgrading scale. Table of Contents Week Topic(s) Learning Objective(s) Reading(s) Assignment(s) 1 Introduction to Macroeconomics • LO 1: Describe the characteristics of demand and supply, and apply the demand and supply model. • LO 2: Define real gross domestic product and identify the phases of a business cycle. • LO 3: Define inflation and deflation, and explain how each affects the price and economic growth of an economy. • LO 4: Articulate why the price-level changes and how it can affect economic stability. • LO 5: Explain how unemployment is calculated and measured in the United States. • LO 6: Demonstrate an understanding of the role of the government in the economy. • LO 7: Identify the components of the macroeconomy and relate them to the circular flow diagram. Describe the characteristics of demand and supply, and apply the demand and supply model. Unit 1 http://www.saylor.org/courses/econ102/ DQ1: Self Introduction and Understanding Plagiarism. DQ2: The three primary concerns in macroeconomic analysis. Please submit your responses to DQ1 and...

Words: 1407 - Pages: 6

Premium Essay

Econ 102 Complete Course (American Public University)

...ECON 102 Complete Course (American Public University) IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://acehomework.com/ECON-102-Complete-Course-American-Public-University-1111118.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JohnMate1122@gmail.com 8 – Week Course Outline Please see theStudent Handbook to reference the University’sgrading scale. Table of Contents Week Topic(s) Learning Objective(s) Reading(s) Assignment(s) 1 Introduction to Macroeconomics • LO 1: Describe the characteristics of demand and supply, and apply the demand and supply model. • LO 2: Define real gross domestic product and identify the phases of a business cycle. • LO 3: Define inflation and deflation, and explain how each affects the price and economic growth of an economy. • LO 4: Articulate why the price-level changes and how it can affect economic stability. • LO 5: Explain how unemployment is calculated and measured in the United States. • LO 6: Demonstrate an understanding of the role of the government in the economy. • LO 7: Identify the components of the macroeconomy and relate them to the circular flow diagram. Describe the characteristics of demand and supply, and apply the demand and supply model. Unit 1 http://www.saylor.org/courses/econ102/ DQ1: Self Introduction and Understanding Plagiarism. DQ2: The three primary concerns in macroeconomic analysis. Please submit your responses to DQ1 and...

Words: 1407 - Pages: 6

Premium Essay

Changes to Capitalism

...Winter Economics 13 Winter Economics 13 The Changes to Capitalism January 28, 2013 Sarah Evelyn Johnson Assignment 1: Econ 1020 The Changes to Capitalism January 28, 2013 Sarah Evelyn Johnson Assignment 1: Econ 1020 08 Fall 08 Fall Although capitalism has only been around for two short centuries, it has vastly changed the way that society functions from the pre-capitalist era of economics. The world has taken a trip to a completely different way of working and functioning through what is just for people, what commodities are and the way people use their resources. The first major economic system that is traceable is that of the primitive economies, the early eras of society. Human behavior has evolved along with the rest of the world and how people act is directly responsible to what time period that they lived in and how they changed economics. First, in primitive economics, the main driving force was having enough supplies to survive and to strengthen communal bonds through cooperation of the tribe. During this time period resources and material wealth were largely shared with all members of the community to support reciprocity, everyone had equal income and would preform tasks for each other. Along with reciprocity, the chief or shaman sometimes redistributed goods for fairness and there was a division of labor. According to Polanyi, “Division of labor, a phenomenon as old as society, springs from differences inherent in the facts...

Words: 1370 - Pages: 6

Premium Essay

Hhjhjhj

...Journal of International Economics 77 (2009) 255–264 Contents lists available at ScienceDirect Journal of International Economics j o u r n a l h o m e p a g e : w w w. e l s ev i e r. c o m / l o c a t e / j i e On the origins of comparative advantage Arnaud Costinot ⁎ MIT and NBER, United States a r t i c l e i n f o Article history: Received 5 April 2007 Received in revised form 15 January 2009 Accepted 15 January 2009 Keywords: Complexity Institutional quality Human capital Division of labor Comparative advantage JEL classification: F10 a b s t r a c t This paper proposes a simple theory of international trade with endogenous productivity differences across countries. The core of our analysis lies in the determinants of the division of labor. We consider a world economy comprising two large countries, with a continuum of goods and one factor of production, labor. Each good is characterized by its complexity, defined as the number of tasks that must be performed to produce one unit. There are increasing returns to scale in the performance of each task, which creates gains from specialization, and uncertainty in the enforcement of each contract, which create transaction costs. The trade-off between these two forces pins down the size of productive teams across sectors in each country. Under free trade, the country where teams are larger specializes in the more complex goods. In our model, it is the country where the product of institutional...

Words: 10933 - Pages: 44

Premium Essay

Management

...Study Guide 1. Strategy integrated/coordinated commitment and actions to exploit competencies gain a CAand –resources of ca and CA, choices are driven by external/internal sources, capabilities, core competencies. competitive advantage it creates superior value for customers sth others unable to imitate or find costly to imitate , and above-average returns –what investors expect from others as well given similar risks Strategic competiveness: is achieved when a firm successfully a value creating strategy. 2. Drivers of the competitive landscape changing, blurring boundaries, financial capital are more scarce and mrkt increasing volatile eco measure return over capital , managerial mind-set, ad spend. Most important, global economy and tech changing Highpercompetition: increasing aggressive econ moves and instable assumption of market replaces stable notion 3. The I/O perspective external (opportunity/threaten) (SASAS) study external especially industry, locate attractive industry, strategu formation, develop skills, implement strategy) and the resource-based view (study internal, capabilities, potentials in terms of ca, attractive, strategy)(internal, strength/weakness) (each company is a collection of unique resources-input,employees,patents,finances,managers and capabilities-capacity for resources to perform a task in intergrated manner, unique-> above avg returns) Io Is assumed: external highly constrain and pressure to create above avg...

Words: 790 - Pages: 4

Premium Essay

Dbbl

...Term Paper On Dutch Bangla Bank Letter of Transmittal Acknowledgment This assignment based on “General Banking Practices- A Case Study Of Dutch-Bangla Bank Limited” has been prepared for the requirement of the Bachelor of Business Administration, under the supervision and coordination of Mr. Mohammed Abu Rayhan, Department of Finance, Faculty of Business, ASA University Bangladesh. I would like to start my acknowledgment by thanking Mr. Mohammed Abu Rayhan for assigning me the topic and for his cooperation and guidance to conduct this case study. Special recognition goes to “ASA University Bangladesh” for allowing me to conduct this study and accomplish this assignment. Finally, I would like to give thanks to the Almighty Allah. Table of Contents An Introduction to Bank Dutch-Bangla Bank Limited (DBBL) started their journey by M Sahabuddin Ahmed (Founder & chairman) and the Dutch company FMO in 1995. It is the largest bank in Bangladesh by under the Bank Companies Act 1991 and incorporated as a public limited company under the Companies Act 1994 in Bangladesh with the primary objective to carry on all kinds of banking business in Bangladesh. Dutch Bangla Bank is noted to be the first and only local bank in Bangladesh to have an automated banking system. The bank has spent over Tk. 1 Billion in automation upgrades (first bank in Bangladesh to do so). This automation took place in 2003 whereby services of the bank were available uniformly though any...

Words: 1648 - Pages: 7

Premium Essay

Week One

...------------------------------------------------- Course Syllabus Facilitator Name: Robert C. Paramo, MBA Course Name: Principles of Macroeconomics Course Number: ECO/372 Version 4 Group Number: SB12BSB02 Course Start Date: 01/24/2013 Course End Date: 02/21/2013 COURSE SCHEDULE: Workshop 1 – Jan. 24, 2013 Workshop 2 – Jan. 31, 2013 Workshop 3 – Feb. 07, 2013 Workshop 4 – Feb. 14, 2013 Workshop 5 – Feb. 21, 2013 COURSE LOCATION, DAY AND TIME: San Bernardino Learning Center, Thursdays, 6:00 p.m. to 10:00 p.m. REQUIRED READING:  Students are required to read all materials available at the Course Materials site for this course on https://ecampus.phoenix.edu/portal/portal/public/login.aspx Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright Copyright ©2009 by University of Phoenix. All rights reserved. University of Phoenix© is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft©, Windows©, and Windows NT© are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Policies Students/learners will...

Words: 1342 - Pages: 6

Premium Essay

Econ 401 Assignment 2

...ECON 401 Assignment 2, version E 1. (a) Explain the new trade theory. What is the role of economies of scale in this theory?  The new trade theory specialize in the production and export of particular products not because of underlying differences in factor endowments, but because in certain industries the world market can support only a limited number of firms. So a country’s pattern of trade may be a reflection of the ability of firms in that nation to capture first-mover advantages. Two important points: • Impact on economies of scale, trade can increase the variety of good available to consumers and decrease the average cost of those goods. • When output required attaining economies of scale representing a huge portion of the world demand, world trade in certain products may be dominated by countries whose firms were first movers in their production. i.e. Boeing The role of economies of scale is the ability to spread fixed costs over a large volume and the ability to high-volume producers to utilize specialized employees and equipment that are more productive than less specialized employees and equipment. Economies of scale are a major source of cost reduction in many industries. (b) Discuss the implications of the new trade theory.  The new trade theory was designed to account for the ratio of trade to GDP has increased, trade has become more concentrated among industrialized countries...

Words: 739 - Pages: 3

Free Essay

Fiscal

...of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at http://www.jstor.org/journals/aea.html. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is an independent not-for-profit organization dedicated to and preserving a digital archive of scholarly journals. For more information regarding JSTOR, please contact support@jstor.org. http://www.jstor.org Tue Apr 24 17:00:09 2007 Journal of Economic Literature Vol. XXXVZZ (September 1999) pp. 1120-1 149 An Essay on Fiscal Federalism 1. Introduction ISCAL DECENTRALIZATION is in vogue. Both in the industrialized and in the developing world, nations are turning to devolution to improve the performance of their public sectors. In the United States, the central government has turned back significant portions of federal authority to the states for a wide range of major programs, including welfare, Medicaid, legal services, housing, and job training. The hope is that state and local governments, being closer to the...

Words: 19499 - Pages: 78

Premium Essay

Business Adminstration

...Business Administration and Business Management: The Difference Between Degrees by Fred Decker, Demand Media * Bit.ly * Blogger * Delicious * Digg * Instapaper * Posterous * Stumbleupon * Tumblr * Yahoo! Bookmark * x Degrees in business management are designed to instill leadership skills. Related Articles * The Requirements for an Undergraduate Business Administration Degree * Differences Between an MBA & a Bachelor's in Business Administration * The Difference Between a Master's in Public Affairs & a Master's in Public Administration * The Difference Between a Post Graduate Diploma & an MBA Business management and business administration degrees are the passports to positions in the highest levels of most fields. Even in highly technical professions such as engineering or health care, complementing a professional degree or certification with a graduate business degree can be a prerequisite for a promotion. Business management and business administration degrees have many similarities, but there are differences as well. Business Management Degrees Undergraduate and graduate degrees in business management train students to take a leadership role. The core curriculum of most programs will include a grounding in the humanities, as well as specialized coursework in areas such as conflict resolution, critical thinking, personnel development and managing performance. Management...

Words: 3147 - Pages: 13

Premium Essay

Econ

...Madan M.Batra (MBA, Ph.D.)  Professor of Marketing and International Business Room 406A Eberly 724-357-5776 (Office) 723-388-9595 (Cell) batra@.iup.edu Office Hours  Tuesdays and Thursdays: 12:15 to 2:00 p.m. & 3:15 to 3:30 p.m. Wednesdays: 1:00 to 2:00 p.m. Please see the D2L course website for announcements concerning any changes in office hours during a specific week. Instructor Profile I am a professor of marketing and international business at Eberly College of Business and Information Technology. My academic preparation includes MBA in International Business (Dalhousie, Canada), and MS in Marketing and Ph.D. in International Business with focus on International Marketing—both from the University of Wisconsin-Madison. I have worked at a managerial level in a large multinational enterprise. I have taught a wide range of courses--International Business, International Marketing, The Global Village, Self-Marketing, Marketing Internship, Principles of Marketing, Consumer Behavior, Marketing Research, Seminar in Marketing, and Marketing Management at undergraduate, graduate and executive levels. My research interests are in international business, business sustainability, international marketing ethics, advertising ethics, self-marketing, export marketing, cross-cultural marketing, experiential education, and effective pedagogy. My research articles are published in numerous journals that include International Journal of Business Strategy, The Journal of Current...

Words: 1615 - Pages: 7