The first edition of A Concise Guide to Macroeconomics by David A. Moss was published in 2007—just as one of the world's great economic downturns was taking off. The second edition has just been ...

Comparative advantage is the economic principle that an individual, firm, or nation faces a unique set of advantages and disadvantages relative to others in its production of particular goods and ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

Kennedy, Robert E., and Nancy F. Koehn. "Economic Gains from Trade: Comparative Advantage." Harvard Business School Background Note 796-183, June 1996. (Revised November 1996.) ...

With the help of a diagram, examine the likely effects of a country imposing a tariff on imports of a specific good on: the level of imports of the good; the level of domestic production of the good; ...

David Ricardo's concept of comparative advantage is an important premise in international trade theory because it explains how and why countries trade, even when one country can produce all things ...

Students who take Economics 101 usually hear a story about international trade. It goes like this: "There's a guy in the state of Michoacán, Mexico, who is really good at growing avocados. There's ...

Andrew Ancheta is a finance editor who has reported extensively on cryptocurrency, NFTs, economics, and history. He previously worked as an editor for China Daily. Robert Kelly is managing director of ...