International trade agreements have been in the news recently, from Britain’s decision to leave the EU to the United States pulling out of the agreement on TPP and the United States re-opening negotiations on NAFTA. Starting with what we learned in this week’s module material, supplemented with additional research, discuss the expected winners and losers from such events and how these events might affect attempts at international expansion, foreign direct investment, and enforcement of international regulations.

Additionally, identify at least two concepts that you found particularly confusing in this week’s material. Why did you find this material confusing?

Lecture:

This week we cover the basic models of consumer and producer behavior, as well as demand and supply. These models establish the overall technical framework used for this week’s module on economics and international business. Understanding demand and supply is a key aspect of economics. Another important concept is elasticity. Elasticity is a measure of responsiveness and addresses considerations related to price changes.

There are several Lynda.com videos this module. These videos serve as content for this module and it is in your best interest to view these videos to help solidify the concepts of economics and international business.

This week’s critical thinking assignment requires that you use a graph to illustrate your analysis of the market for either gasoline or cannabis. Make sure that you create a graph and not a time chart, show the required shift, and link the graph to your analysis in the body of the paper.

readings:

Chapters 3 & 4 in Contemporary Business

Recommended

Ahmed, G., Al-Gasaymeh, A., & Mehmood, T. (2017). The global financial crisis and international trade. Asian Economic and Financial Review, 7(6), 600-610. doi:http://dx.doi.org.csuglobal.idm.oclc.org/10.18488/journal.aefr.2017.76.600.610
Nursini, N. (2017). Effect of fiscal policy and trade openness on economic growth in Indonesia: 1990-2015. International Journal of Economics and Financial Issues, 7(1).

 

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