Many people assume that importing goods from other countries destroys jobs here in the U.S. Economists believe that trade doesn't destroy jobs, it just moves them around within the economy. This video explains how.
This course will analyze the causes and consequences of international trade and investment. We will investigate why nations trade, what they trade, and who gains (or not) from this trade. We will then analyze the motives for countries or organizations to restrict or regulate international trade and study the effects of such policies on economic welfare. Topics covered will include the effects of trade on economic growth and wage inequality, multinationals and foreign direct investment, international trade agreements and current trade policy disputes.
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
By the end of this section, you will be able to:
Explain the origin and role of the World Trade Organization (WTO) and General Agreement on Tariffs and Trade (GATT)
Discuss the significance and provide examples of regional trading agreements
Analyze trade policy at the national level
Evaluate long-term trends in barriers to trade
