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Economics: Difference between revisions
→Week 36 - Classical trade theories: + Heckscher–Ohlin model + Heckscher–Ohlin theorem + definitions for both
(→Week 36 - Classical trade theories: sourcing definition of w:Terms of trade + w:Heckscher-Ohlin) |
(→Week 36 - Classical trade theories: + Heckscher–Ohlin model + Heckscher–Ohlin theorem + definitions for both) |
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* '''[[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 | ** Sources of productivity | ||
* '''[[w:Heckscher-Ohlin]]''' can refer to either | * '''[[w:Heckscher-Ohlin]]''' can refer to either | ||
** '''[[w:Heckscher–Ohlin model|Heckscher–Ohlin model]]''' | ** '''[[w:Heckscher–Ohlin model|Heckscher–Ohlin model]]''' ('''H–O model''') is a [[w:general equilibrium|general equilibrium]] mathematical model of [[w:International economics|international trade]], developed by [[w:Eli Heckscher|Eli Heckscher]] and [[w:Bertil Ohlin|Bertil Ohlin]] at the [[w:Stockholm School of Economics|Stockholm School of Economics]]. It builds on [[w:David Ricardo|David Ricardo's]] theory of [[w:comparative advantage|comparative advantage]] by predicting patterns of commerce and production based on the [[w:Factors of production|factor]] endowments of a trading region. | ||
** '''[[w:Heckscher–Ohlin theorem|Heckscher–Ohlin theorem]]''' | ** '''[[w:Heckscher–Ohlin theorem|Heckscher–Ohlin theorem]]''' is one of the four critical theorems of the Heckscher–Ohlin model. It states that a country will export goods that use its abundant factors intensively, and import goods that use its scarce factors intensively. | ||
== Week 37 - Modern trade theories, trade policy == | == Week 37 - Modern trade theories, trade policy == | ||