Comparative and Absolute Advantage

Purpose of AssignmentThis assignment will help students master research and other analytical skills and will help students recognize reasons why economic growth varies by country. By using macroeconomic indicators, students will complete analysis and determine comparative and absolute advantage in different product categories for each country’s economy. Assignment Steps Develop a minimum 1,050 word analysis of the international economy in which you do the following: IntroductionChoose three countries from the list below. Research each country, using resources such as the CIA World Fact Book, World Bank data, World Trade Organization (WTO), and the Federal Reserve Bank. Research each of your three chosen country’s economic, political, and cultural development:USA (first country pick)AustraliaCanada (second country pick)ChinaSaudi ArabiaDemocratic Republic of CongoFranceGermany (third country pick)Great BritainItalyJapanAnalyze measures of economic growth and of comparative and absolute advantage in international trade.Use tables and/or graphs to compare the following economic statistics/indicators of your three chosen countries for the most recent year available and for 2009 (the trough of the last economic cycle):Country Real GDP (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesCountry CPI (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesCountry Real Exports (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesCountry Real Imports (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesCountry Unemployment Rate (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesCountry Industrial Production (include one graph or table showing USA, Canada and Germany’s comparisons)-properly cite data sourcesDiscuss reasons why the economic growth of the three countries varies. How does international trade influence the strength of the economy worldwide?Discuss the following for each country:At least two products that have provided the country an absolute advantage in trade (if any).At least two products that have provided the country a comparative advantage in trade.Factors that might have prevented any of your three chosen countries from achieving absolute and/or comparative advantages.ConclusionReferences-APA peer-reviewed references cited; also include proper citations within essay in APA style format. Cite a minimum of three peer-reviewed sources. Please include web links of sources used.Format the assignment consistent with APA guidelines. Side Note: Will be checked for any plagiarism.

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