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Economics: Difference between revisions
→Week 36 - Classical trade theories: sourcing definition of w:Terms of trade + w:Heckscher-Ohlin
(→Week 36 - Classical trade theories: adding w.Productivity and sourcing definition from Wikipedia) |
(→Week 36 - Classical trade theories: sourcing definition of w:Terms of trade + w:Heckscher-Ohlin) |
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* '''[[w:Exchange rate|Exchange rate]]s''' | * '''[[w:Exchange rate|Exchange rate]]s''' | ||
* '''[[w:Terms of trade|Terms of trade]]''' ('''TOT''') refers to the relative price of exports in terms of imports. It can be interpreted as the amount of import goods an economy can purchase per unit of export goods. ( Wikipedia ) | |||
* '''[[w:Devaluation|Devaluation]]''' in modern [[w:monetary policy|monetary policy]] is a reduction in the value of a [[w:currency|currency]] with respect to those goods, services or other monetary units with which that currency can be exchanged. ( Wikipedia ) | * '''[[w:Devaluation|Devaluation]]''' in modern [[w:monetary policy|monetary policy]] is a reduction in the value of a [[w:currency|currency]] with respect to those goods, services or other monetary units with which that currency can be exchanged. ( Wikipedia ) | ||
* '''[[w:Productivity|Productivity]]''' is the ratio of [[w:Output (economics)|output]] to [[w:Factor of production|inputs]] in production; it is a measure of the efficiency of [[w:production (economics)|production]]. ( Wikipedia ) | * '''[[w:Productivity|Productivity]]''' is the ratio of [[w:Output (economics)|output]] to [[w:Factor of production|inputs]] in production; it is a measure of the efficiency of [[w:production (economics)|production]]. ( Wikipedia ) | ||
** Sources of productivity? | |||
* '''[[w:Heckscher-Ohlin]]''' can refer to either | |||
** '''[[w:Heckscher–Ohlin model|Heckscher–Ohlin model]]''' | |||
** '''[[w:Heckscher–Ohlin theorem|Heckscher–Ohlin theorem]]''' | |||
== Week 37 - Modern trade theories, trade policy == | == Week 37 - Modern trade theories, trade policy == | ||