Lecture 19: International Trade
author: Jonathan Gruber,
Department of Economics, Massachusetts Institute of Technology, MIT
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: February 2011, views: 3965
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012, recorded: February 2011, views: 3965
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
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Description
How many of you have received flowers for Valentine's Day? Of course, February in New England is snowy, and those flowers are not raised locally—they are imported from other countries. International trade is hugely important in national and international economies today, but up to this point it has been excluded from our models. In this lecture, a basic introduction to the principles of international trade is provided.
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