purchases of good or services by a domestic economy from a foreign economy.

John Maynard Keynes "National Self-Sufficiency"

An article from the Yale Law Review by John Maynard Keynes

International Trade: Absolute and Comparative Advantage

A video outlining comparative advantage and how it compares to absolute advantage.

International Trade Introduction

You'll have the opportunity to learn more about fundamental ideas such as comparative advantage, increasing returns to scale, factor endowments, and arbitrage across borders. The consequences we discuss include the effects of offshoring, how trade has shaped the economies of China, Mexico, and Korea, when foreign direct investment is desirable, and the history of free trade and tariffs, among other topics.

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