1.5 — The Ricardian View of Trade: Reflections on Comparative Advantage — Class Notes


Tuesday, September 1, 2020


Today, we go over the Ricardian model practice from last class, and since we will not have enough time to start the next model (I would rather not split it across classes if I can help it), we will reflect on the nature of comparative advantage and its relationship to the division of labor, and international trade.


There are no required or unique readings for today. Though as I mentioned in class, you might find How the Dismal Science Got its Name insightful and surprising. It is a 6 part series of blog posts based on research by David Levy & Sandra Peart. - Part I - Part II - Part III - Part IV - Part V - Part VI


Live Class Session on Zoom

The live class Zoom meeting link can be found on Blackboard (see LIVE ZOOM MEETINGS on the left navigation menu), starting at 2:00 PM.

If you are unable to join today’s live session, or if you want to review, you can find the recording stored on Blackboard via Panopto (see Class Recordings on the left navigation menu).

Practice Problems

Answers to last class’ practice problems will be posted on that page later.