Assignment: Comparative and Absolute Advantage
Purpose of Assignment
This assignment will help students master research and other analytical skills and will help students recognize reasons why economic growth varies by country. By using macroeconomic indicators, students will complete analysis and determine comparative and absolute advantage in different product categories for each country's economy.
Develop a minimum 500-word analysis of the international economy in which you do the following:
• Research each country, using resources such as the CIA World Fact Book, World Bank data, World Trade Organization (WTO), and the Federal Reserve Bank. Research each of your three chosen country's economic, political, and cultural development:
o USA
o Canada
o China
• Discuss reasons why the economic growth of the three countries varies. How does international trade influence the strength of the economy worldwide?
• Discuss the following for each country:
o At least two products that have provided the country an absolute advantage in trade (if any).
o At least two products that have provided the country a comparative advantage in trade.
o Factors that might have prevented any of your three chosen countries from achieving absolute and/or comparative advantages.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.