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  • Nota Bab 7 Macroeconomics

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    Yaya
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    This document summarizes key concepts in international macroeconomics including definitions of international trade, assumptions of trade models, advantages and disadvantages of trade, protectionism and its goals. It defines international trade as the exchange of goods and services across borders, examines Ricardian and Heckscher-Ohlin models, notes trade increases output and efficiency while incurring transportation costs, and lists tariffs, quotas, subsidies, controls and embargoes as protectionism tools.

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    NOTA BAB 7 MACROECONOMICS

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    This document summarizes key concepts in international macroeconomics including definitions of international trade, assumptions of trade models, advantages and disadvantages of trade, protectionism and its goals. It defines international trade as the exchange of goods and services across borders, examines Ricardian and Heckscher-Ohlin models, notes trade increases output and efficiency while incurring transportation costs, and lists tariffs, quotas, subsidies, controls and embargoes as protectionism tools.

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    © All Rights Reserved
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    34 views2 pages

    Nota Bab 7 Macroeconomics

    Uploaded by

    Yaya
    This document summarizes key concepts in international macroeconomics including definitions of international trade, assumptions of trade models, advantages and disadvantages of trade, protectionism and its goals. It defines international trade as the exchange of goods and services across borders, examines Ricardian and Heckscher-Ohlin models, notes trade increases output and efficiency while incurring transportation costs, and lists tariffs, quotas, subsidies, controls and embargoes as protectionism tools.

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    © All Rights Reserved
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    NOTA MACROECONOMICS

    BAB 7
    TOPIC MEANING
    International Individual activities on the exchange of capital
    goods and services across borders or
    territories.
    Trade International trade as the exchange of goods
    and services between one country and
    another.

    Assumptions
    Ricardian model: Labour is the only primary input to production.
    Heckscher-Ohl in model: Labour and capital flow freely between sectors.

    International Trade
    Advantages Disadvantages
    • Increase in world output. • Economics and political
    • Increase in efficiency. dependence.
    • Enjoy economics of scale. • Transportation costs.

    Protectionism
    1. Reduce deficit in the balance of payments.
    2. Increase in government revenue.
    3. Create more job opportunities.

    Protectionism Tools
    Tariff > Qouta > Subsidies on Export > Exchange Controls > Embargo

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