Department of Economics Compiled by Prof E Ziramba INTERNATIONAL TRADE Only study guide for ECS302-E UNIVERSITY OF SOUTH AFRICA PRETORIA © 2010 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk‚ Pretoria ECS302E/1/2011 – 2013 iii ECS302-E/1/2011-2013 CONTENTS Page 1 1 1.1 1.2 1.3 1.4 1.5 1.6 INTRODUCTION .......................................................................................................
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The competitive advantage of nations: is Porter’s Diamond Framework a new theory that explains the international competitiveness of countries? A.J. Smit ABSTRACT The focus of this article is to clarify the meaning of international competitiveness at the country level within in the context of Porter’s (1990a) thesis that countries‚ like companies‚ compete in international markets for their fair share of the world markets. At a country level‚ there are two schools of thought on country competitiveness:
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Introduction International trade theory provides explanations of the benefit for country to engage in international trade‚ even for products it can produce for itself. As time goes by‚ there are mainly 7 types of theory‚ namely‚ mercantilism‚ absolute advantage‚ comparative advantage‚ Heckscher-ohlin theory‚ product life-cycle theory‚ new trade theory‚ Porter’s diamond national competitive advantage theory. Although some of the theories hold different view of patterns of international trade and
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Sound or Small Hiccup?’‚ Brookings Papers on Economic Activity‚ 2‚ 161-210 . Leamer‚ E (1995) The Heckscher-Ohlin Model in Theory and Practice‚ Princeton Studies in International Finance‚ 77‚ February‚ Department of Economics‚ Princeton University. Leontief‚ W (1953) ‘Domestic Production and Foreign Trade: The American Capital Position Re-examined’‚ Proceedings of the American Philosophical Society‚ 97‚ 332-49. Lerner‚ A (1952) ‘Factor Prices and International Trade’‚ Economic‚ 19(1)‚ 1-15. Machin‚
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CHAPTER 3 THEORETICAL FRAMEWORK The theoretical framework of the thesis is multidisciplinary in approach. First‚ tourism impacts and tourism in the Gross Domestic Product are pooled into the framework to better understand the impact of tourism in the whole economy. Finally‚ general equilibrium theories and the theoretical structure of an applied CGE model are briefly discussed to better understand the framework under which the tourism sub-sector interacts with the other sectors‚ sub-sectors
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collecting due to embedded consumption. This consumption accounting requires Environmental Input-Output modelling which has not been used in the UK since 1995. Druckman and Jackson therefore have to use alternative methods (in this case‚ the “1995 Leontief Inverse and Imports Use Matrices”)‚ this means that industry structure is not accurate‚ which therefore means that the
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Globalization – a shift toward a more integrated and interdependent economy Globalization of Markets – refers to the merging of historically distinct and separate national markets into one huge global marketplace; moving away from an economic system in which national markets are distinct entities‚ isolated by trade barriers and barriers of distance‚ time‚ and culture‚ and toward a system in which national markets are merging into one global market Converging tastes and preferences of consumers
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Technology versus man is not only a theme found in literature‚ such as when the scientist‚ Frankenstein‚ created the monster who came alive and turned on the scientist‚ but is also a theme found in the real-life world of American economy. The Economist is a weekly newspaper focusing on politics and business news and opinion. It ran an article called “Into the Unknown” which put forth the idea that changes in technology that destroy jobs can also create new ones. The machine (created by man) will
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KENYATTA UNIVERSITY SCHOOL OF ECONOMICS DEPARTMENT OF APPLIED ECONOMICS EAE 307: INTERNATIONAL ECONOMICS I INSTRUCTOR: P. M. KUUYA SCHOOL OF ECONOMICS DEPARTMENT OF APPLIED ECONOMICS EAE 307: INTERNATIONAL ECONOMICS I LECTURER: P. M. KUUYA TABLE OF CONTENTS 1 LECTURE ONE 6 1.0 INTRODUCTORY LECTURE 6 1.1 Why
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Meno’s Paradox A paradox is a true statement or group of statements that leads to a contradiction or situation‚ which defies intuition (Wikipedia). In Plato’s Meno‚ Meno and Socrates engage in the typical Socratic elenctic method of examination pertaining to the topic of virtue. Socrates helps Meno reach a state of learned ignorance. After reaching this state‚ Meno presents his paradox to Socrates. Socrates‚ in philosophical fashion‚ examines the statement using epistemological evidence to understand
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