Ricardian Model of Trade (Theory) | Lecture 4 | AKN | International Economics | UG NEP 2020

Описание: 📘 AKN-Lecture 4: Ricardian Model of Trade (Theory)

This lecture is part of International Economics for UG Economics under NEP 2020 syllabus.

In this lecture, we introduce the Ricardian Model of International Trade, which explains trade based on differences in labour productivity and opportunity cost.

Topics covered:

• Assumptions of the Ricardian Model
• One-Factor (Labour) Economy
• Unit Labour Requirement
• Absolute vs Comparative Advantage
• Production Possibility Frontier (Straight Line PPF)
• Relative Supply & Relative Demand
• Determination of Terms of Trade
• Complete Specialization
• Theoretical Explanation of Gains from Trade

This lecture builds the formal analytical framework that explains why countries specialize and how international prices are determined.

The next lecture will include step-by-step numerical solutions based on the Ricardian model.

🎓 Faculty:

Dr. Arun Kumar Nandi
Associate Professor, Department of Economics
Chakdaha College

📌 Useful for:

✔ UG Economics (NEP 2020)
✔ University examination preparation
✔ Competitive exams
✔ Conceptual understanding of classical trade theory

🔎 Keywords:

Ricardian Model, International Trade Theory, Comparative Advantage Model, Unit Labour Requirement, Relative Supply and Demand, Terms of Trade, UG Economics, NEP 2020