28. International Trade and Efficiency

This video introduces the economics of free trade as an application of the efficiency criterion (maximizing total surplus). Along the way, I demonstrate that although the efficient policy is to liberalize trade, free trade always creates losses for some domestic stakeholders. As it creates losses, there will always be an interest group who is politically opposed to any particular trade policy.

For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page:

http://blog.thisyoungeconomist.com/p/learn-microeconomics.html

Category:

Education

Tags:

• economics lectures
• supply and demand
• efficiency criterion
• free trade
• international trade
• world price supply and demand

[BigBen866]

The public school system would collaspe if Economics was a requirement!!!!!! Light Bulbs would pop above the average American's head.

[yazziwazzi]

nice!



[ChenJunHung]

i think next time you can speak a little louder or put the microphone closer, great lecture though 

[MatteNoob]

Good video, but the voice is problematic. Low and it doesn't sound like you teach economics, but rather are telling us a huge secret. It is too variable and it is hard to follow the concepts because you stress things with the tone of your voice too often.

[mrssugar52]

near to speak clearer.

thanks

[Herseykardeslik]

it is great video but you definetly need to do something for voice it needs to be fixed so we can hear better. Thanks for the post.

[emgirl21]

great video, very well explained. Thankyou