Acceptable logotypeECO 2030. Principles of Economics-Price Theory

International Trade

Autarky

  1. Domestic market price and quantity
  2. Comparative advantage and world price

Welfare Analysis for an Importing Country

  1. Surplus gains
  2. Surplus losses
  3. Net gain

Tariffs

  1. Surplus gains
  2. Surplus losses
  3. Net gain

Quotas

  1. Surplus gains
  2. Surplus losses
  3. Net gain

Welfare Analysis for an Exporting Country

  1. Surplus gains
  2. Surplus losses
  3. Net gain

Export Subsidies

  1. Surplus gains
  2. Surplus losses
  3. Net gain

Exchange Rates

  1. Trade Balance
  2. Currency cross rates
  3. Foreign exchange markets
  4. Appreciation
  5. Depreciation

Arguments for Protectionism

  1. Jobs
  2. National security
  3. Infant industry
  4. Unfair-competition
  5. Bargaining

Trade Agreements

  1. GATT
  2. NAFTA

References

  • John C. Beghin, Barbara El Osta, Jay R. Cherlow, Samarendu Mohanty (2003). THE COST OF THE U.S. SUGAR PROGRAM REVISITED. Contemporary Economic Policy 21 (1), 106116. doi:10.1093/cep/21.1.106