Students will apply what they have learned in previous economics courses to analyze the global economic environment. They will learn and apply the law of comparative advantage to understand how all people can gain from international trade. Trade agreements, such as GATT and NAFTA, will be discussed and analyzed. Students will learn about the currency markets and the different types of monetary systems.
- Explain the gains from international trade.
- Analyze and evaluate different trade policies of various nations.
- Show why arguments for protectionism are counter to the economic interests of individuals.
- Explain the benefits of immigration.
- Perform analyses of foreign exchange transactions.
- Differentiate between various monetary systems.
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