Master Economics

Set up a Ricardo-type comparative advantage numerical example with two countries and two goods. Distinguish "absolute advantage” from "comparative advantage” in the context of your example. Then select an international terms-or-trade ratio and explain in some detail how trade between the two countries benefits each of them in comparison with autarky. When would either of your countries NOT benefit from engaging in trade? Explain. 

Important:  Please ensure that you insert your citation for the article as your reference in your discussion post. Depending on which electronic database you use, you should see a "Cite” selection for your article. In addition, there should be a variety of articles summarized and as such, students should have different articles summarized. Your summary MUST include ALL of the following (include every item in the bullet list below, or you will not receive full credit): 

Clearly state what the article is about and its purpose 

How the article and/or author(s) support your argument(s) 

Most important aspects of the article 

Any findings and conclusions

Include the article "Abstract” in your posting (your summary should be original) 

Include the industry example demonstrating the application of your researched article 

"IMPORTANT” - Include the citation for the article

NO less than 3 pages.