International Trade

Learning Objectives: Estimate the welfare effects of trade intervention
Group activity:

The best way to understand economic interdependence is the classic pamphlet I, Pencil.

This guy attempted to make a sandwich from scratch. It cost $1500 and took 3 months. It’s remarkable how cheap and plentiful sandwiches are, due to an extended global supply chain and division of labou.

This video shows the history of globalisation through some important maps:

Here we use basic demand and supply analysis to look at the welfare effects of trade intervention:

These resources form part of my Managerial Economics course map. You can watch the full YouTube playlist here. This page ties into Chapter 10 of ‘Economics: A Complete Guide for Business‘.
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