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Professional Assignment 1 – CLO 2

CLO2: Assess comparative advantage and all related concepts such as opportunity costs, cost conditions, and the impact of trade on jobs. Explain how the sources of comparative advantage and related concepts such as economies of scale, theories and effects, and the product life cycle theory. (5-9)

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.

In Weeks 2 and 6 students will write a 2-3 page paper in response to a case study or similar assignment provided by your professor. Student answers are to be clear, well-organized, and specific. Provide a concise, cogent argument and include details to support your response. Please refer to Expectations of Student Assignments and the Formatting Requirements for Written Assignments on page 10 of the University Policies for a detailing of specific expectations for how to format and write your paper. Additionally, you may refer to the PA and CLA Grading Rubric found on page 12 of the syllabus.

The paper uses at least 8 quality peer reviewed and scholarly resources (nonwebsite based ) and 1 textbook-based resource to support his/her argument.

The paper is content rich, all questions and their parts have been answered demonstrating: *critical analysis *application of learned concepts to real world *research-based evidence

The paper: *demonstrates effective, well supported argument *provides supporting evidence for argument *demonstrates a strong relationship between argument and assignment requirements

The paper is well organized and includes: *logical flow *correct use of APA headings *introduction and conclusion

The paper contains correct grammar, spelling, and sentence structure.

The paper follows all formatting guidelines, including page-length, APA formatting requirements, correctly formatted in text citations, and correctly formatted references and reference page

*draw logical and valid conclusions *provide supporting researchedbased evidence including peer reviewed articles *utilize the textbook, online databases and the internet to locate supporting literature