The Big Ideas of Trade
- Title:
- The Big Ideas of Trade
- Description:
-
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Trade makes people better off, but how? In this video we discuss the importance of specialization and division of knowledge. Specialization leads to improvements in knowledge, which then lead to improvements in productivity. For instance, physicians who specialize are able to learn more about one specific area in medicine, and we benefit from better health care because of this.
What does specialization have to do with trade? What can we learn from Star Trek about the division of knowledge? Is globalization a good thing? We’ll answer these questions and others in this introductory video on the big ideas of trade.
Microeconomics Course: http://mruniversity.com/courses/principles-economics-microeconomicsAsk a question about the video: http://mruniversity.com/courses/principles-economics-microeconomics/trade-specialization-economics-globalization#QandA
Next video: http://mruniversity.com/courses/principles-economics-microeconomics/comparative-advantage-definition-tasmania
- Video Language:
- English
- Team:
- Marginal Revolution University
- Project:
- Micro
- Duration:
- 08:02
Peter Balla edited Hungarian subtitles for The Big Ideas of Trade | ||
Peter Balla edited Hungarian subtitles for The Big Ideas of Trade | ||
Fran Ontanaya edited Hungarian subtitles for The Big Ideas of Trade | ||
Silvia Rivera edited Spanish subtitles for The Big Ideas of Trade | ||
Silvia Rivera edited Spanish subtitles for The Big Ideas of Trade | ||
Silvia Rivera edited Spanish subtitles for The Big Ideas of Trade | ||
Silvia Rivera edited Spanish subtitles for The Big Ideas of Trade | ||
Silvia Rivera edited Spanish subtitles for The Big Ideas of Trade |