PPT-Trade – A2 Economics

Aims and Objectives Aim Understand the UK current account Objectives D efine UK current account Analyse the UKs import and export destinations Evaluate the importance of the UK current account . Professor of Economics, Queen Economic Reality. The Economic Myth . Economic choices involve only money.. Economic Reality. Economics focuses on choices, the choices that we make every day. Both as individuals and as a society.. Economics. Chapter 7. Imports and Exports. Imports—products brought in from a foreign country.. Exports—products sent to a foreign country for sale.. Why We Trade….. To get products we don’t have.. To specialize in items we make efficiently and import those we do not.. Summary . 2017 Economics 101 CCC. THINKING LIKE AND ECONOMIST . Chapter 1, 2, 3, 5,. market systems: elements of how a market works. questions of economics how & for whom?. social versus self interest. Big ideas in economics: . Incentives Matter. Good Institutions Align Self-Interest with the Social Interest. Trade-offs Are Everywhere. Thinking on the Margin. The Power of Trade. 2. Outline. The Importance of Wealth and Economic Growth. is the study of how people seek to satisfy their . needs. and . wants. by making . choices. .. What is a . need?. A need is something necessary for survival. Examples:. What is a . want?. A want is an item we desire but is not essential to survival. Examples:. 2. Two simple but important models:. production possibility frontier(PPF). circular-flow diagram (CFD). 3. The difference between positive economics and normative economics. 4. When economists agree and why they sometimes disagree. Impacts of export lead growth in China. Poverty headcount ratio at $1.90/day (% of pop). 1990. 2014. 66.6%. 1.4%. Life expectancy at birth. 1968. 2016. 55.8 years. 76 years. Improved sanitation. 1990. Would you rather…. Study or go to the movies?. Eat a salad or French fries?. Buy a new phone or a new outfit?. How do you decide?. Economics. The study of scarcity and choice.. Economists ask: How do we satisfy our needs and wants by making choices?. (2019), 112, 32-50. Journal of International Economics, (2016), 98, 150-59.&#x /MC;&#xID 7;� 00;&#x /MC;&#xID 7;� 00; &#x /MC;&#xID 7;
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00; KEYU JIN http//personallseacuk/jink/Office Contact InformationDepartment of EconomicsLondon School of Economics Houghton StreetLondon WC2A 2AEUKGender FemaleNationality ChinaAcademic PositionSeptembe January 2013. Content. A Brief History of CUTS. An Overview of CUTS. A Brief History of CUTS . CITEE. Some Major Achievements of CUTS . CITEE. Vision & Mission. Goals . Objectives. SLOT Analysis. The study of how people seek to satisfy their . needs . and . wants. by making . choices. Relationship between Economics and Scarcity. What is “Scarcity?”. What is Scarcity?”. Economic situation where there are . International . economics is a field of study which assesses the implications of international trade in goods and services and international investment.. There are two broad sub-fields within international economics: international trade and...