User:Jukeboksi/BBA studies/Economics: Difference between revisions
User:Jukeboksi/BBA studies/Economics (edit)
Revision as of 15:38, 5 September 2013
, 5 September 2013→Week 36 - Classical trade theories: + definition of w:Comparative advantage
(→Week 36 - Classical trade theories: + definition of w:Comparative advantage) |
|||
| Line 182: | Line 182: | ||
** '''[[w:Heckscher–Ohlin model|Heckscher–Ohlin model]]''' ('''H–O model''') is a [[w:general equilibrium|general equilibrium]] mathematical model of [[w:International economics|international trade]], developed by [[w:Eli Heckscher|Eli Heckscher]] and [[w:Bertil Ohlin|Bertil Ohlin]] at the [[w:Stockholm School of Economics|Stockholm School of Economics]]. It builds on [[w:David Ricardo|David Ricardo's]] theory of [[w:comparative advantage|comparative advantage]] by predicting patterns of commerce and production based on the [[w:Factors of production|factor]] endowments of a trading region. | ** '''[[w:Heckscher–Ohlin model|Heckscher–Ohlin model]]''' ('''H–O model''') is a [[w:general equilibrium|general equilibrium]] mathematical model of [[w:International economics|international trade]], developed by [[w:Eli Heckscher|Eli Heckscher]] and [[w:Bertil Ohlin|Bertil Ohlin]] at the [[w:Stockholm School of Economics|Stockholm School of Economics]]. It builds on [[w:David Ricardo|David Ricardo's]] theory of [[w:comparative advantage|comparative advantage]] by predicting patterns of commerce and production based on the [[w:Factors of production|factor]] endowments of a trading region. | ||
** '''[[w:Heckscher–Ohlin theorem|Heckscher–Ohlin theorem]]''' is one of the four critical theorems of the Heckscher–Ohlin model. It states that a country will export goods that use its abundant factors intensively, and import goods that use its scarce factors intensively. | ** '''[[w:Heckscher–Ohlin theorem|Heckscher–Ohlin theorem]]''' is one of the four critical theorems of the Heckscher–Ohlin model. It states that a country will export goods that use its abundant factors intensively, and import goods that use its scarce factors intensively. | ||
* '''[[w:Comparative advantage|Comparative advantage]]''' refers to the ability of a party to produce a particular good or service at a lower [[w:Marginal cost|marginal]] and [[w:opportunity cost|opportunity cost]] over another. ( Wikipedia ) | |||
== Week 37 - Modern trade theories, trade policy == | == Week 37 - Modern trade theories, trade policy == | ||