Exercise solution
1.1 and 1.2 solution were taken from 2 handouts. Student can
explain how can you reach its equilibriu .
start from drawing graph, explain each points in your graph and try to
show how equilibrium for consumer and producers occur.
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.2-basic%20tools2019.pdf
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.3Closed%20Economy%20Equilibrium.pdf
2. Look at offer curve and international term of trade, trade triangle.
Then drawing the graph to match with your explanation, step and
step. Give a skill of drawing, explaining.
See http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.7Inter%20TOT%20and%20HO.pdf
3. It is straightforward. Just try to show your work by using math skill
just like I explained on the whiteboard (Auto: Wheat)
Before and After trade
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.4constant%20cost%20PPS.pdf
4. Explain/show you work of Ricardian model in number or graph,
then explain, step by step, question by question
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.1-2019-summary.pdf
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/2%20Foundations%20of%20M
odern%20Trade%20Theory-Comparative%20Advantage.pdf
5. Explain/show you work of Hecksher-Ohlin model in graph, then
explain, step by step, question by question
-Using graph, number and then show examples for both short-run and
long-run.
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.8HO%20and%20beyonds.pdf
http://fuangfah.econ.cmu.ac.th/teacher/nisit/files/lec.9%20HO%20Extension2.pdf
Strongly suggestion
Please show your works in details as many as you can. Don’t answer
only the final answer.