Dominick Salvatore International Economics Ppt //top\\ -

: Keep a running cheat sheet of critical equations found in the slides, such as the marginal propensity to import, the effective rate of protection, and forward premium calculations.

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The first half of the presentation series focuses on why nations trade, who gains from trade, and how government interventions alter these dynamics. 1. Mercantilism to Comparative Advantage : Keep a running cheat sheet of critical

: Nations should specialize in producing goods where they have the lowest opportunity cost. the effective rate of protection

Illustrating consumer preferences and welfare levels within a nation.