- Course
International Trade
Comparative advantage
Comparative advantage is one of the deepest and most profound ideas in economics. Should Martha Stewart iron her own shirts? No! Learn why.
Course overview
What you will learn
This free video course takes a look at the basic theories of international trade and the consequences of trade in today's global economy. You'll have the opportunity to learn more about fundamental ideas such as comparative advantage, increasing returns to scale, factor endowments, and arbitrage across borders. The consequences we discuss include the effects of offshoring, how trade has shaped the economies of China, Mexico, and Korea, when foreign direct investment is desirable, and the history of free trade and tariffs, among other topics. Trade is a topic of increasing importance and this material will give you a better grasp on the theories and empirics as they have been developed by economists.
This course is non-technical and is accessible to a beginner.
Can I earn a certificate?
Yes, if you pass the final exam, you will earn the
"International Trade" certificate on your MRU profile.
Creative Commons
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The third party material as seen in this video is subject to third party copyright and is used here pursuant
to the fair use doctrine as stipulated in Section 107 of the Copyright Act. We grant no rights and make no
warranties with regard to the third party material depicted in the video and your use of this video may
require additional clearances and licenses. We advise consulting with clearance counsel before relying
on the fair use doctrine.
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