An Interactive Computer Model of Two-Country Trade
We introduce an interactive computer model of two-country trade that allows students to investigate the consequences of changing economic parameters. The model is self-contained and makes no assumption concerning the existence of social welfare functions or social indifference curves. The factors of production earn incomes that lead to the demand for two goods. Students can see who are the winners and losers when going from a closed economy to an open economy. The students are able to predict the consequences and then obtain immediate feedback.
Year of publication: |
2012
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Authors: | Hamlen, William ; Hamlen, Kevin |
Published in: |
International Review of Economic Education. - Economics Network, University of Bristol. - Vol. 11.2012, 2, p. 91-101
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Publisher: |
Economics Network, University of Bristol |
Saved in:
freely available
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