Summary: Today we will dig deeper into Ricardo's theory of comparative advantage.
Inquiry Question: Why do countries trade?
Paper #1 is due today.
Watch, Take Notes, and Do the Practice Questions: Videos on comparative advantage and the benefits of trade.
TQE Discussion: Discuss the videos and develop a compelling a question that you're interested in researching related to trade and its impact on one country in Southeast Asia.
REQUIRED: Watch, take notes, and do the practice questions for these videos.
Tariff and Trade History (4:19)
The Shipping Container (4:25)
The Corn Law Debates (6:36)
Effective Rate of Protection (3:22)
Optimal Tariffs (7:15)
OPTIONAL: Watch the first 7 chapters of this documentary (Commanding Heights Episode 3).
Chapter 1: Prologue (0:00:00)
Chapter 2: Global Idea (0:06:15)
Chapter 3: NAFTA : The First Test (0:10:06)
Chapter 4: Crossing Borders (0:15:49)
Chapter 5: The Global Market (0:19:02)
Chapter 6: Emerging Market Hunters (0:22:50)
Chapter 7: Averting a Meltdown: 1994 (0:27:50)
Focus on this question as you watch and think specifically about the Mexico and the United States as you do so: Based on the first seven chapters of Commanding Heights what are the benefits and costs of international trade?