Microeconomics: Comparative advantage
Comparative Advantage (notes) (3/27/2007)
Converting output per unit time table to time per unit output table.
Converting output per unit time table to time per unit output table.
Gain from world trade (6/23/2006)
Countries can gain through world trade based on complete specialization.
Countries can gain through world trade based on complete specialization.
Gaining from Comparative Advantage - youtube (8/9/2011)
Production through partial or complete specialization can increase total output and with trade total consumption can also be increased
Production through partial or complete specialization can increase total output and with trade total consumption can also be increased
Gaining Through Comparative Advantage - recording transcript (1/16/2012)
Partial or complete specialization according to comparative advantage is a win-win strategy to increase total output, even though one party might enjoy absolute advantage over another party.
Partial or complete specialization according to comparative advantage is a win-win strategy to increase total output, even though one party might enjoy absolute advantage over another party.
Generating combined production possibility curve (6/23/2006)
Explain comparative advantage and derive a combined production possibility curve (frontier) from two linear PPCs using Flash animation.
Explain comparative advantage and derive a combined production possibility curve (frontier) from two linear PPCs using Flash animation.
Healthcare Tourism (3/7/2007)
Lower-pay certified doctors, duly accredited facilities, and 5-star facilities have contributed to the comparative advantage of overseas hospitals in non-emergency big-budget surgeries for international patients.
Lower-pay certified doctors, duly accredited facilities, and 5-star facilities have contributed to the comparative advantage of overseas hospitals in non-emergency big-budget surgeries for international patients.
Higher output under partial specialization (6/23/2006)
Partial specialization based on comparative advantage leads to higher total output.
Partial specialization based on comparative advantage leads to higher total output.
Identifying comparative advantage (8/28/2006)
How to plot production possibilities curve (frontier) and identify comparative advantage in a two-persons two-goods economy.
How to plot production possibilities curve (frontier) and identify comparative advantage in a two-persons two-goods economy.
Niche Specialization (1/30/2007)
Niche comparative advantage in location proximity and fast response time could overcome the disadvantage of high wages in the garment industry.
Niche comparative advantage in location proximity and fast response time could overcome the disadvantage of high wages in the garment industry.
No Chicken Feet! (1/3/2013)
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But this export trade is not exempted from political whims.
Chicken feet, long considered a waste product in the US, have become a profit center for the high-volume low-profit US chicken industry in the China export market. But this export trade is not exempted from political whims.
Protest-free Drug Testing (2/27/2007)
China's low labor cost, abundant test animals, tax incentives, and permissive research environment have contributed to its comparative advantage in drug development.
China's low labor cost, abundant test animals, tax incentives, and permissive research environment have contributed to its comparative advantage in drug development.
The Case for Sweatshops (1/23/1999)
Sweatshops in low wage countries supplying goods to American companies may offer better paying jobs than other local firms.
Sweatshops in low wage countries supplying goods to American companies may offer better paying jobs than other local firms.
