PPT-Trade and the Economy

MSc in Economic Policy Studies John FitzGerald March 2015 Course Outline How does an economy work JF 1612015 The genesis of macroeconomics AM 2312015 Modern macroeconomics AM 3012015. Aims and Objectives. Aim: . Understand the UK current account. Objectives: . • D. efine . UK current account . Analyse the . UK’s . import and export destinations . Evaluate the importance of the UK current account . DEVELOPMENT:. The British Regime-Decline of Fur and Rise of Timber. Main Questions:. What happened to the fur trade during the British Regime?. How did timber replace fur as the main resource exported by the colony? How did the timber trade change how people did business in the colony?. Not That Long Ago Japan Was The Economic Model For The World. I finished my Undergrad in in 90s and we were still exploring the Japanese management style. Which by the way was started by an American consultant in Japan. Chapter . 6 . of . Macroeconomics. , . 8. th. . edition, by N. Gregory . Mankiw. ECO62. . Udayan. . Roy. Chapter Outline. In chapter 2, we saw that . Y. = . C. + . I. + . G. + . NX. when . Y. Mark . Casson. University of Reading. Introduction. My role: I am . not . an. expert . who is always right but a . commentator. who sees Brexit as part of a bigger picture.. I’m a . scholar. , not a political activist. My interest in Brexit is the same as everyone else’s: its legacy will persist for several generations.. Chapter 19.2 & Chapter 26.2. 19.2 Review . What are the 2 main sectors of the US economy?. How does the government sector interact with the above sectors?. What benefits and drawbacks are there to the foreign sector in our economy?. Questions…. Why do countries trade?. What do they gain? . Is international trade a win-lose competition or a win-win situation? Why?. If a competition, who wins? How?. What is a “balance of trade”? . Econ 340. Lecture 2: Institutions. 2. Announcements. We will start discussing news next week, on Monday Sep 17. You should be watching for international economic news.. Be sure to register your clicker on the Canvas site for this course.. THIRD EDITION. ECONOMICS. and. MACROECONOMICS. Paul Krugman | Robin Wells. A set of principles for understanding how individuals make choices . A set of principles for understanding how individual choices interact. A set of principles for understanding how individual choices interact. A set of principles for understanding economy-wide interactions. Chapter 1: First Principles. Individual Choice. Individual choice. ….. Bueller. .. What is economics??. ECONOMY. - . Making and spending . =. . $$$$.. How a country meets the basic needs of its people. Economy. Businesses owners compete . against each other. Government interferes . The . action . of buying . and selling . goods . and services. .. A . basic economic concept that involves multiple parties participating in the voluntary negotiation and then the exchange of one's goods and services for desired goods and services that someone else possesses. . A – International Trade. B – Trade Facilitation. C – Global Trade Flows. A – International Trade. International Trade: A Definition. Read part 1 (The Flows of Globalization). International Trade. Sam J G . Cooper. a. , Jonathan B . Norman. a. , . Palash. . Kamruzzaman. b. , Geoff P Hammond. a. University of Bath, Bath UK. University of South Wales, Pontypridd, UK. sjgcooper@bath.edu. Sustainable lifestyles, livelihoods and the circular .