This tutorial includes an example of how to conduct a case analysis, using the case of Logitech, and an overview of some of the more influential international trade theories and ideologies of the past five hundred years. Particular attention is given to Adam Smith's theory of Absolute Advantage and David Ricardo's theory of Comparative Advantage.
This tutorial includes an example of how to conduct a case analysis, using the case of Logitech, and an overview of some of the more influential international trade theories and ideologies of the past five hundred years. Particular attention is given to Adam Smith's theory of Absolute Advantage and David Ricardo's theory of Comparative Advantage.
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
Transformation and change - 100 mini papers - eBookMarcelo Sávio
A selected set of 'one-page' articles about many technology topics, written by me and many of my colleagues, in a eBook sponsored by the IBM Brazil's Technology Leadership Council (TLC-BR).
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
WELCOME TO SEMINAR 10March 11, Wed. 10-11 pm ET MT44.docxalanfhall8953
WELCOME TO
SEMINAR 10
March 11, Wed. 10-11 pm ET
MT445-01
MANAGERIAL ECONOMICS
INSTRUCTOR: PAUL CHOI, PH.D.
1
LIVE SEMINARS
(Wednesday 10-11 PM ET)
Live Seminar Schedule:
• Live Seminar 1: January 7 (Wednesday 10-11 pm ET)
• Live Seminar 2: January 14 (Wednesday 10-11 pm ET)
• Live Seminar 3: January 21 (Wednesday 10-11 pm ET)
• Live Seminar 4: January 28 (Wednesday 10-11 pm ET)
• Live Seminar 5: February 4 (Wednesday 10-11 pm ET)
• Live Seminar 6: February 11 (Wednesday 10-11 pm ET)
• Live Seminar 7: February 18 (Wednesday 10-11 pm ET)
• Live Seminar 8: February 25 (Wednesday 10-11 pm ET)
• Live Seminar 9: March 4 (Wednesday 10-11 pm ET)
• Live Seminar 10: March 11 (Wednesday 10-11 pm ET)
• It is strongly suggested that you attend the graded seminar at the regularly scheduled time. If you are unable to attend the seminar, you can complete the following assignment.
2
UNIT 10 READING
Chapter 9 discusses the United States in the international economy; comparative advantage in international trade; how countries gain from international trade; government policies that restrict international trade; and the argument over trade policies and globalization.
3
UNIT 10 READING
Chapter 30 discusses exchange rate systems, the current exchange rate system, and international capital markets.
4
READING: CHAPTER 9
The United States in the International Economy
Tariff: A tax imposed by a government on imports.
Imports: Goods and services bought domestically but produced in other countries.
Exports: Goods and services produced domestically but sold to other countries.
5
READING: CHAPTER 9
Comparative Advantage in International Trade
Absolute Advantage: The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
Comparative Advantage: The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
Opportunity Cost: The highest valued alternative that must be given up to engage in an activity.
6
READING: CHAPTER 9
How Countries Gain from International Trade
Autarky: A situation in which a country does not trade with other countries.
Increasing Consumption through Trade
Terms of Trade: The ratio at which a country can trade its exports for imports from other countries.
7
READING: CHAPTER 9
How Countries Gain from International Trade
Why Don’t We See Complete Specialization?
• Not all goods and services are traded internationally.
• Production of most goods involves increasing opportunity costs.
• Tastes for products differ.
8
READING: CHAPTER 9
How Countries Gain from International Trade
Where Does Comparative Advantage Come From?
• Climate and natural resources.
• Relative abundance of labor and capital.
• Technology.
• External economies.
External economies: Reductions in a firm’s costs that result from an increase in the.
In this lecture on international trade, we first review why nations trade. Historical philosophers and early economists such as Adam Smith and David Ricardo are highlighted. Why then discuss how nations can become more competitive, mainly through a review of Porter's framework. Lastly, we review the typical process by which firms internationalize and discuss how that concept is changing over time.
Stretagies that fit Emerging Markets,
International Business Strategies which are suitalbe for developing countries to attract the international investors
Transformation and change - 100 mini papers - eBookMarcelo Sávio
A selected set of 'one-page' articles about many technology topics, written by me and many of my colleagues, in a eBook sponsored by the IBM Brazil's Technology Leadership Council (TLC-BR).
WTO & Trade Issues - International Trade Environment.pptxDiksha Vashisht
To better understand how modern global trade has evolved, it’s important to understand how countries traded with one another historically. Over time, economists have developed theories to explain the mechanisms of global trade.
The main historical theories are called classical and are from the perspective of a country, or country-based.
WELCOME TO SEMINAR 10March 11, Wed. 10-11 pm ET MT44.docxalanfhall8953
WELCOME TO
SEMINAR 10
March 11, Wed. 10-11 pm ET
MT445-01
MANAGERIAL ECONOMICS
INSTRUCTOR: PAUL CHOI, PH.D.
1
LIVE SEMINARS
(Wednesday 10-11 PM ET)
Live Seminar Schedule:
• Live Seminar 1: January 7 (Wednesday 10-11 pm ET)
• Live Seminar 2: January 14 (Wednesday 10-11 pm ET)
• Live Seminar 3: January 21 (Wednesday 10-11 pm ET)
• Live Seminar 4: January 28 (Wednesday 10-11 pm ET)
• Live Seminar 5: February 4 (Wednesday 10-11 pm ET)
• Live Seminar 6: February 11 (Wednesday 10-11 pm ET)
• Live Seminar 7: February 18 (Wednesday 10-11 pm ET)
• Live Seminar 8: February 25 (Wednesday 10-11 pm ET)
• Live Seminar 9: March 4 (Wednesday 10-11 pm ET)
• Live Seminar 10: March 11 (Wednesday 10-11 pm ET)
• It is strongly suggested that you attend the graded seminar at the regularly scheduled time. If you are unable to attend the seminar, you can complete the following assignment.
2
UNIT 10 READING
Chapter 9 discusses the United States in the international economy; comparative advantage in international trade; how countries gain from international trade; government policies that restrict international trade; and the argument over trade policies and globalization.
3
UNIT 10 READING
Chapter 30 discusses exchange rate systems, the current exchange rate system, and international capital markets.
4
READING: CHAPTER 9
The United States in the International Economy
Tariff: A tax imposed by a government on imports.
Imports: Goods and services bought domestically but produced in other countries.
Exports: Goods and services produced domestically but sold to other countries.
5
READING: CHAPTER 9
Comparative Advantage in International Trade
Absolute Advantage: The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
Comparative Advantage: The ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors.
Opportunity Cost: The highest valued alternative that must be given up to engage in an activity.
6
READING: CHAPTER 9
How Countries Gain from International Trade
Autarky: A situation in which a country does not trade with other countries.
Increasing Consumption through Trade
Terms of Trade: The ratio at which a country can trade its exports for imports from other countries.
7
READING: CHAPTER 9
How Countries Gain from International Trade
Why Don’t We See Complete Specialization?
• Not all goods and services are traded internationally.
• Production of most goods involves increasing opportunity costs.
• Tastes for products differ.
8
READING: CHAPTER 9
How Countries Gain from International Trade
Where Does Comparative Advantage Come From?
• Climate and natural resources.
• Relative abundance of labor and capital.
• Technology.
• External economies.
External economies: Reductions in a firm’s costs that result from an increase in the.
In this lecture on international trade, we first review why nations trade. Historical philosophers and early economists such as Adam Smith and David Ricardo are highlighted. Why then discuss how nations can become more competitive, mainly through a review of Porter's framework. Lastly, we review the typical process by which firms internationalize and discuss how that concept is changing over time.
this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important. this course is very important.
Chapter 5 How Managers Use Balance of Payments Data – p.213Do.docxrobertad6
Chapter 5: How Managers Use Balance of Payments Data – p.213
Do some research on the items in the table below and see if you see a pattern with the various country’s economies:
1. What is the G7?
2. What is the E7?
G7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
NOTE: When you find the GDP (Gross National Product) note the year – you may not have 2018 statistics. That is okay –find the latest data available. You may need to search for the Ranking of Ease of Doing Business – and then find the countries that make up the G7 or the E7.
NEXT PAGE!
E7 Countries
Continent where the country lies
GDP
Ease of Doing Business
1.
2.
3.
4.
5.
6.
7.
A. Compare the 2 groups of countries – explain your findings.
Globalization Effects on Country Institutions, People and Business
Chapter 3
Key Points for the Chapter
Economic development comprises positive economic growth and entails changes in a country’s political, economic, and cultural institutions, as well as in individual values, attitudes, and behaviors.
Economic development requires resources from public and private sectors, both internal and external.
Technology transfers by international corporations comprise manufacturing technologies, management organizations, and marketing know-how.
Intro: The Economic Development Process
Economic development is the progress countries make in living standards as they experience positive economic growth and the changes occurring in societal and cultural institutions and values as nations move toward more advanced stages of industrialization.
Economic progress demonstrates human progress, and more pragmatically, it keeps politicians in power, companies busy, and consumers (and voters) optimistic about the future.
Technology Transfers
International trade, investments, and global media have opened world markets up to a variety of modernizing influences.
In general terms, technology transfers occur as corporations enter new markets with products, technologies, lifestyles, and business methods developed in their home and other international markets.
Technology transfers first affect urban segments of developing countries where there are developed infrastructures and pocket of economically significant customers.
As media become commercialization and distribution channels are built into rural areas, greater proportions of developing-country populations come into contact with modernization influences.
4
Positive Effects
Positive effects occur as societies are exposed to broad varieties of products that make lives easier.
Convenience products such as packaged foods, and consumer durables such as refrigerators, radios, televisions, and stoves have positive effects on consumer lifestyles.
New technologies in manufacturing and distribution make products cheaper and more widely available. They provide employment opportunities for lo.
This is a highly engaging unit about the effects of information overload in our modern world. The lessons include illustrations, discussion questions, video clips and article hyperlinks, research prompts, quick writes, and other activities.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
New development in herbals,
Bio-prospecting tools for drug discovery,
Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
2. PowerPoint Version is
available at
Slideshare.com
Type in PPT title or dean r
berry
2
3. 3
The economic systems used by countries
vary. All of the freedoms enjoyed by
Americans to work and earn profit are not
the same in China and Russia.
4. 4
The governments in some countries exercise
far more control of businesses, profits,
workers, and trade.
5. 5
Some economic systems provide a significant
amount of freedom in the market place, while
other systems give the government a
significant amount of control over what
people can produce, buy, or trade.
6. How is a centrally planned economy
different from a market economy?
6
7. Many countries in the world have large
numbers of poor people and are still doing
things the way they have for hundreds of
years. They are functioning as traditional
economies. They are considered
underdeveloped countries.
7
8. Most countries in Central America,
Africa, and Asia are traditional,
underdeveloped economies.
8
10. Discuss and Take Notes
The next slide lists the characteristics of
developed and underdeveloped countries.
Discuss the differences between the two types
of countries.
Take notes and prepare to write a
paragraph(half page) describing the
differences 10
11. 11
Nations
Developed
Industrialized
countries
Highly educated
Good highways and
airports
Extensive
technology
Industrial parks
Modern Factories
Skilled workforce
Underdeveloped
3rd world countries
Poorly educated
Limited roads, few
airports
Very limited
technology
Raw materials and
mines
Oil, uranium,
lumber, iron, coal
Agriculture-sugar,
bananas, coffee
13. Quick Write
Write a half page comparing and
contrasting developed and
underdeveloped countries. Add details
and examples to make clear the many
ways that they are very different from
each other.
13
14. What does free enterprise mean? What
is a free market economy?
14
15. How much government control is
allowed in a capitalistic(market)
economy?
15
17. How is a command economic system
different from a market economy?
17
18. Countries with a history of communism
exhibit more government control of the
production of goods in an economy.
18
19. 19
In recent years, Russia and China have
gradually loosened some government
controls on the economy, but remain mostly
government controlled economies.
20. 20
Small businesses okay
Free to leave
Strong government control
Government runs big
companies
McDonalds okay
Government controls most
business
personal freedom restricted
21. Discuss and Take Notes
Use the next 4 pages for information to
write a half page essay about the
differences between a free market
economy, a mixed economy, and a
planned command economy.
21
23. As you write your essay, include the
examples of countries that used different
economic systems.
23
24. Who makes the economic decisions in a
market economy?
In a command economy?
24
25. America is mostly a capitalistic economy
and many European countries are a
mixture of both capitalism and socialism.
25
26. 26
Free Market
(Capitalism)
Mostly
Free Market
Very
Limited
Free Market
Command
Economy
(communism)
No
Government
Intervention
Government
Regulates
Businesses
Government
Controls
Business, but
Allows some
Freedom
Government
Tightly
Controls all
Business
Rare
United States
Most
Developed
Countries
China
Vietnam
Cuba
North
Korea
27. Quick Write
Write a half page essay about the
differences between a free market
economy, a mixed economy, and a
planned command economy.
27
28. Review these questions as you view and
discuss the following 9 slides about
government regulation of businesses.
What kind of rules does government put on
businesses?
Are there rules to protect the environment?
Give examples
Are there rules to protect consumers?
Are there rules to protect workers?
Are there rules to ensure fair competition? 28
34. Regulations on businesses keep them
from dumping chemicals in rivers,
spewing dangerous emissions from
smoke stacks, and using cancer causing
material in their products.
34
37. Whistle blowers cannot be fired,
demoted, or harassed because they
report employer violations.
37
38. Let’s summarize and discuss some of the
regulations that are placed on businesses
by government.
What kind of rules does government put on
businesses?
Are there rules to protect the environment?
Give examples
Are there rules to protect consumers?
Are there rules to protect workers?
Are there rules to ensure fair competition?
38
39. Quick Write
Write a one page essay discussing the
regulations that you think government
should put on businesses. Explain why
you think these regulations are
necessary and provide specific
examples.
39
40. 40
Some countries in the world have advanced
economies with well run factories and high
use of technology. Other countries have more
basic economies and are still developing.
41. Why are all four of these areas needed to
produce goods and services?
41
42. You would like to build and sell a new
solar powered automobile. What will
you need to get in order to begin
production? Why are these important?
42
43. In order to sell your solar cars, you will
need enough buyers to make a profit.
What is the economic term for buyers?
43
53. Meet in a small group and select one
good small business idea. Make a list of
the various tasks that must be done in
order to start the business.
53
54. Check your list of things to do against
these steps. Re-do your list if necessary.
54
55. Share your to do list with the whole
class. Should there be changes?
55
56. Think Twice Before Starting Your Own
Business
Who will need to work more hours per day-
an employee or a new business owner?
Who will have to pay every time they make
a mistake?
Who needs to learn the most and do their
homework?
Who needs to be the most motivated?
56
57. How will you get customers
for your new business?
Is there enough demand for your service or
product?
How will you prepare to meet the demand
for your service?
57
58. 58
In a market economy like the United States
prices and production are determined by
supply and demand.
62. Let’s discuss and review the following
ideas about supply and demand.
How does demand affect prices?
How does supply of a product affect prices?
What might happen if three new fast food
restaurants opened on the same block
where two fast food restaurants already
exist?
62
63. Where do many of the products you
purchase come from? Where are they
made?
63
64. Discuss
How many products can you name that
come from other countries?
Where do they come from?
Why do Americans buy these products?
64
65. Which category of imports do we import
the most from China? What percent of
our Chinese imports are computer and
electronic related?
65
66. If a 25% tariff was imposed on solar
imports from Asia, how would the goal of
reducing home energy costs be affected?
66
67. 67
Even hundreds of years ago countries found
it very helpful to trade their products to
other countries in exchange for goods that
they were unable to produce or grow.
68. Over 2,000 years ago ancient
civilizations traded with each other by
ship or overland on the silk road routes.
68
70. Riding camels through deserts and
mountains was much harder than using
modern technology to trade.
70
71. As hard as trade was in the ancient past,
different regions of the world wanted
the goods and products that other areas
had. It was a great exchange for all
parties.
71
79. Trade agreements like NAFTA are
established between cooperating
countries to eliminate tariffs and enable
countries to sell products in each other’s
countries. This usually produces a win-
win situation for all countries.
79
80. 80
Cheap Labor $
Countries that have a lower standard of living
can pay their workers less and produce goods
at a much lower price than wealthier
countries.
Immigrants
Mexico
South
America
Vietnam
India
Minimum
Wage
82. 82
However, some people oppose free trade
because it may result in fewer jobs in the
United States when products can be
purchased much cheaper in other countries.
83. Buying products that are made in the
United States helps create more jobs for
Americans.
83
84. Import tariffs are taxes that force prices
much higher on foreign made products
sold in American stores.
84
86. Adding high tariffs to imported products
is called protectionism because it
protects American made products from
much cheaper imported products.
86
87. The problem with tariffs is that prices
for consumers can go much higher.
87
88. Discuss
Allowing free trade between countries tends
to benefit consumers by offering lower prices
for goods.
Should Wal-Mart be allowed to import
cheaper products and sell them at lower
prices? What if your relatives lose their jobs
because the company they work for cannot
make the product as cheaply as Chinese
companies?
88
90. 90
Tariffs Some people argue that adding a tax
on imports will make competition fair
and save jobs in the U.S.
91. Adding an import tax on products made
in other countries will increase the cost
of the product and make it easier for
products made in the U.S. to compete.
91
93. Chinese workers are paid less to make
tires in Chinese factories. American
workers require higher wages. As a
result, tires made in America have to
cost more to cover the costs of
production.
93
95. If more Chinese products sell to U.S.
consumers, then fewer American made
products will be purchased.
As a result, American companies will need to
hire fewer American workers to make tires.
95
97. President Trump placed 25% tariffs on many
products to help save American jobs but it
backfired and more jobs were lost than saved.
Tariffs have created more problems than they
have solved.
97
98. U.S. tariffs on steel and other materials
cost far more jobs than they saved.
What was the net jobs lost?
98
99. Experts say that global trading is here
to stay for several reasons.
Consumers benefit from imported products since
imports create more competition and lower prices.
Placing tariffs on foreign products will increase prices
for all consumers.
The jobs lost by buying foreign products is offset by
the jobs that are created through global trade.
99
102. 102
Should consumers have the right to buy
less expensive tires that are made in
China? What are the pros and cons of
free trade? Who wins and who loses?
Explain
103. Report Back to the Class
Share your group’s ideas about free
trade.
Give the pros and cons that you
discussed
Now that we have heard the
arguments, let’s vote on free trade to
see where the class stands on this
important issue.
103
104. 104
Check-up and Review
Raise your green card if you believe
the statement is true or your red card
if you think it is false.
105. 105
True or False-1
In the United States
gas and food prices
are determined by
our government.
111. 111
True or False-4
If more people want to
buy Honda automobiles
than the company can
produce, the price of a
new Honda will increase
significantly.
113. 113
True or False-5
China is not a free society
because the government
makes most of the
economic decisions,
operates the means of
production, and seriously
limits personal freedoms.
115. 115
True or False-6
Most underdeveloped
countries have plenty of
skilled workers, but they
lack the money needed to
create new businesses
and factories.
121. 121
True or False-9
Sometimes an import tax is
placed on goods entering
the U.S. to make sure that
American goods are able to
compete with foreign
products with a fair, level
playing field.
125. 125
True or False-11
Russia and China have
converted to a free
market economy and
offer the same freedoms
for business owners as
the United States.
127. 127
True or False-12
Most expert agree that if
we stop trading with
other countries, we will
have more jobs for our
own people and our
economy will prosper.