When getting my students to consider whether international trade is beneficial or not I always get them to think and write about what their life would be like with and without international trade. These are the basic instructions that I give them: “Start in the morning of a normal day and work through to bedtime. Brainstorm… Continue reading Lesson Activity: ‘Your life with trade’
Below is a PowerPoint presentation I use with my students as a revision exercise for trade policy. Each slide contains a basic argument for or against trade. I suggest spending about 10-15 min considering each argument and thinking specifically about the weaknesses of each view. Trade Arguments Don’t forget to use real world examples to support… Continue reading Arguments for and against trade – PowerPoint
International Trade leads to lower prices: Another common argument put forward to support international trade is that it lowers the price of goods and services. There are a number of reasons why international trade may lower prices: 1- International trade allows firms to take advantage of larger markets which means they can take advantage of… Continue reading International trade and lower prices
The costs and benefits of international trade: Consumers have more choice. A common argument heard in favor of international trade and globalization is that consumers get to enjoy a greater choice in goods and services. Why would international trade bring us more choice? The most obvious reason is that we… Continue reading International trade give us more choice?
The following, I hope, links to a PowerPoint that I use with my classes to go through the core arguments for and against international trade. It tends to work quite well and may be a useful revision tool to get you thinking about international trade: Trade Arguments
So after talking to a couple of students I realize that before I start going through the pros and cons of international trade we should also consider the theoretical basis of international trade. I will put up some detailed comments on Absolute and Comparative Advantage later, but, for now, I hope the following analogy will help you… Continue reading Absolute and Comparative Advantage: Or, why your dad makes you rake the leaves.
The Costs and Benefits of international trade – An introduction So over the next few posts I am going to be considering the costs and benefits of international trade. Rather than just doing a list I thought it would be good to consider some of the common arguments and evaluate them in a fair amount… Continue reading International Trade – Introduction