The purpose of this paper is to summarize the International Trade Simulation, explain the basic concept of International Trade, emphasize the four key points from the reading assignments in the simulation, and apply these concepts to my workplace. Simulation Summary In the International Trade simulation, you are the Trade Representative of a small country called Rodamia. You are introduced to international trade--the theory of comparative advantage and the impact of tariffs, quotas, and dumping on …
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showed last 75 words of 976 total
…still amazing that countries refrain from developing Free Trade Agreements when most economists agree that it would result in a tremendous boon to all economies involved. But it was most interesting to not that comparative advantage can be applied to more than international trade; it can be applied to every individual's life and common situations. References: Colander, D.C. (2004). Macroeconomics. [5th ed.]. Irwin/McGraw Hill: Burr Ridge, IL. Applying International Trade Concepts: (2003). Apollo Group, Inc.