Unit 1: Markets are Efficient, Except . . . Intro to Microeconomics

Lesson 2a: Market Economies and Trade

Assignments: Video Lectures

ECONOMIC SYSTEMS 1.1.4 An Overview of Economic Systems 10:50 [MyNotes] Power of the Market (YouTube LibertyPen) 1:14 [MyNotes] 17.5.3 Comparative Economic Performance 12:16 [MyNotes] OPTIONAL: Paul Solman Video: Capitalism vs. Socialism - The Cuban Quandary (YouTube PBS NewsHour) 13:56 SPECIALIZATION AND GAINS FROM TRADE 1.5.1 Defining Comparative Advantage with the Production Possibilities Frontier 22:10 [MyNotes] 1.5.2 Understanding Why Specialization Increases Total Output 6:46 [MyNotes] 1.5.3 Analyzing International Trade Using Comparative Advantage 25:35 [MyNotes] KEY PROBLEM: The gains from trade

HOME Lesson 2a