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POL208Y1 (500)
G (1)
Lecture 20

Lecture 2012 01 17

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Department
Political Science
Course
POL208Y1
Professor
G
Semester
Winter

Description
POL208Lecture13POL208Lecture13POL208POL208LectureLecture1313InternationalPoliticstryingtoconnectIPtoEconomicsThisweekdifferenteconomicdimensionsinIPFirstupistradeHowtradeandpoliticseffectoneanotherTradeTradeTradeTradeTradedatesbacktoancienttimesExoftradetradinggoldforsaltWhywouldsometradegoldforsaltThereasonisbecauseSaltisanecessityandpeopleintheSaharalivesinwardthereforeitisnotreadilyavailableOtherexampleoftradeistheSilkRoadwhichcarriessilkaddotherthingsacrossEuropeandAsiaandAfricaroutesAgeofexplorationwasallmotivatedbytradeTheearlysettlersmovingfromoneplacetoanotherHowevertradeisnotalwayspeacefulitcancausewarsForexampletheOpiumWarbetweenChinaandEnglandoBritainwantedteawhichChinaexportsbutChinadidntcontinuouslywantwhatEnglandwasgivingthemoSowhattheEnglishdidwasdevelopedOpiumintheircontrolinIndiaTheChineseabsolutelylovedthisbuttheyeventuallybannedanytradeofOpiumbecauseofthesuccessofitBritainwasfurioussotheythreatenedorcausedwaroTheeffectsofthiswasthattheBritishtookcontrolofHongKongGlobalizationisinvolvedintradeSometermstobefamiliarwithTransactionCostscostoftradeincludingtransportationbutalsorisketcOpportunityCostsamountofsomeothergoodthatislostinordertoobtainunitofgivengoodBeinginuniversitymadeyougiveupfulltimejobRelativePricesThepriceofagoodintermsofothergoodsTheBarterPriceKindlecost15ofyour500trip
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