Comparative Advantage & Gains from Trade | Lecture 3 | AKN | UG Economics| NEP 2020
Автор: Dr. Arun Kumar Nandi
Загружено: 2026-03-03
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Описание:
📘 AKN-Lecture 3: Comparative Advantage & Gains from Trade
This lecture is part of Paper – International Economics for UG Economics under NEP 2020 syllabus.
In this lecture, we examine the core principle of international trade theory — Comparative Advantage.
Topics covered:
• Absolute vs Comparative Advantage
• Opportunity Cost and Trade Pattern
• Basis of Specialization
• Autarky Relative Price
• Terms of Trade (ToT) Range
• Production Gains and Consumption Gains from Trade
• Why Both Countries Gain from Trade
The lecture explains how differences in opportunity cost create the foundation for mutually beneficial trade, even when one country has absolute advantage in both goods.
This session provides the theoretical base for the Ricardian Model, which will be discussed in subsequent lectures.
🎓 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 trade theory
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