Comparative and Absolute Advantage

Purpose of Assignment

This assignment will help students master research and other analytical skills and will help students recognize reasons why economic growth varies by country. By using macroeconomic indicators, students will complete analysis and determine comparative and absolute advantage in different product categories for each country’s economy. 

Develop a minimum 500-word analysis of the international economy in which you do the following: 

· Research each country, using resources such as the CIA World Fact Book, World Bank data, World Trade Organization (WTO), and the Federal Reserve Bank. Research each of your three chosen country’s economic, political, and cultural development:

· USA

· Canada

· China

· Discuss reasons why the economic growth of the three countries varies. How does international trade influence the strength of the economy worldwide?

· Discuss the following for each country:

· At least two products that have provided the country an absolute advantage in trade (if any).

· At least two products that have provided the country a comparative advantage in trade.

· Factors that might have prevented any of your three chosen countries from achieving absolute and/or comparative advantages.

 Cite a minimum of three peer-reviewed sources. 

Format the assignment consistent with APA guidelines. 

 

Develop a minimum 500-word analysis of the international economy in which you do the following: SEE ATTACHED

  • Research each country, using      resources such as the CIA World Fact Book, World Bank data, World Trade      Organization (WTO), and the Federal Reserve Bank. Research each of your      three chosen country’s economic, political, and cultural development:
    • USA
    • Canada
    • China
  • Discuss reasons why the      economic growth of the three countries varies. How does international      trade influence the strength of the economy worldwide?
  • Discuss the following for each      country:
    • At least two products that       have provided the country an absolute advantage in trade (if any).
    • At least two products that       have provided the country a comparative advantage in trade.
    • Factors that might have       prevented any of your three chosen countries from achieving absolute       and/or comparative advantages.

Cite a minimum of three peer-reviewed sources. 

Format the assignment consistent with APA guidelines. 

 

Comparative and Absolute Advantage