Professor Anna Maria Mayda on Classical Trade Theory
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Mayda, Anna Maria
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Globalization's Winners and Losers: Challenges for Developed and Developing Countries - GeorgetownX - INFX523-01
In this video, we hear from guest lecturer Professor Anna Maria Mayda. Professor Mayda guides us through a deeper look into the wine and wool (cloth) example, further helping us understand the following question: What is the difference between absolute and comparative advantage?Learning Objective: Differentiate between absolute advantage and comparative advantage in the contemporary era.Learning Objective: Determine what traditional theories of comparative advantage and newer theories of trade-and-investment tell us about whether globalization is a zero-sum phenomenon between developing and developed countries.Learning Objective: Articulate the elements of classic and modern trade theories, including comparative advantage, absolute advantage, opportunity cost, and intra-industry trade with product differentiation.
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WEEK 2 - Supply Chains, Trade and Investment
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Moran, Theodore (Georgetown University, 2013-10-16)Globalization's Winners and Losers: Challenges for Developed and Developing Countries - GeorgetownX - INFX523-01