ECON1086: Business in a Globalised Economy Assignment
- Subject Code :
ECON1086
Week 2 Tutorial Solution
The jury is still out on whether the CPTPP benefits everyone.
- How do economists generally compare levels of economic development between two countries?
- Is this a good measure of economic development? Why or why not? Discuss
- How do economists generally compare globalisation (openness) between two countries and why?
- Use this website to show openness in a few countries –
- Explain openness in words àhow would you explain this to someone in year 11 of high school? [Practice explaining things intuitively, you’ll need this at work]
- Run a quick overview of consumer and producer surplus.Please revisit the tutorial solution of week 1 in this regard
- Using a demand and supply diagram explain the welfare implications of a deal that lowers the price of imports.
- Using a demand and supply diagram explain the welfare implications of a deal that raises the price of exports.
- Imagine that you work for a major Australian confectionary company that specialises in fruit-based candies. You hear that Australia is looking to sign a Free Trade
- What are FTAs, and who benefits from them?
