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Analyze the gains from trade with the aid of the theory of

Analyze the gains from trade with the aid of the theory of comparative advantage.

Understand the arguments used to justify trade restrictions and critically appraise them.

Construct a country's balance of payments accounts showing the relationship between a current account deficit/surplus and a capital account deficit/surplus.

Isolate the factors that determine exchange rates and explain why the value of the dollar fluctuates.

Apply the AD/AS model to the understanding of expansionary and contractionary monetary policies.

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