POL 3 Lecture Notes - Lecture 11: Corn Syrup, International Political Economy, International Trade
27 Nov 2017
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Document Summary
International political economy: a political interpretation of international economics i. ii. i. ii. iii, the dependent variables are international, but a complex array of actors at multiple levels of analysis. States, international organi ations, firms/mncs, producers, interest groups, economic classes, activist groups, consumers. Increase, big spike in trade in 1970s, and increased dramatically from then on. Gap between imports/exports is a trade deposit: comparative advantage - country"s ability to . Produce some goods more efficiently than other goods , such that its resources are best employed in those activities. Trade nearly always optimal compared to be self-sustaining and producing everything on your own (ersus . Absolute advantage i. ii. iii. i. ii. iii. iv: absolute advantage means how good you are at producing goods relative to other countries. Even though a country might have the absolute advantage, it still benefits you to trade with other countries v. vi. vii. viii. ix.
