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Key Graphs of AP Macroeconomics - YouTube

INTERNATIONAL ECONOMICS

QUESTION:  Do you understand all the "key graphs" for the AP Macro exam?  If the answer is NO, will you ask questions in class?  If the answer is YES, will you reward your teacher?

6 Johnson Jasmine's insight:

Yes, I understand the key graphs for the AP Macro exam. Sure, I'll reward my teacher with the joy of satisfaction for educating a kid on economics so that said kid will not live in a box under Spaghetti Junction in Atlanta. 

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Episode 36: Types of Trade Restrictions - YouTube

INTERNATIONAL ECONOMICS

QUESTION:  What are the ways in which countries restrict international trade?  Who wins and who loses win trade is restricted?

6 Johnson Jasmine's insight:

Countries restrict international trade by implementing tariffs, quotas, standards, and embargoes. When trade is restricted, jobs can be lost.

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:21 PM

Countries can restrict international trade by tariffs, quotas, VER's, and Health and Safety Regulations. When trade is restricted, winners include domestic industry and government, and losers include domestic consumers and foreign producers.

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(Macro) Episode 33: Exchange Rates - YouTube

INTERNATIONAL ECONOMICS

QUESTIONS:  How do currency values rise and fall? Why would a country want to manipulate the value of its own currency? 

6 Johnson Jasmine's insight:

Currency values rise and fall in response to shifts in supply and demand. Countries would manipulate the value of its country in order to buy foreign goods for cheaper prices. 

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:18 PM

Currency values rise and fall when the demand or supply of currency changes. They would want to manipulate the value of its own currency in order to buy foreign goods for cheap.

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Foreign Exchange Practice- Macro Practice - YouTube

INTERNATIONAL ECONOMICS

QUESTIONS:  What factors affect the foreign exchange market (Forex market) and cause the value of a country's currency to change?  What do "appreciation" and "depreciation" of a currency mean?

6 Johnson Jasmine's insight:

The forex market is affected by tastes and preferences, income, price level, and interest rates. A shift in demand affects whether or not the value will appreciate or depreciate. 

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:17 PM

The factors that affect the foreign exchange market and cause the value of a currency to change are taste, income, price level, and interest rates. Appreciation of currency means the value of currency goes up and depreciation of currency is when the value decreases. 

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Comparative Advantage and Terms of Trade - YouTube

INTERNATIONAL ECONOMICS

QUESTION:  What is comparative advantage?  What examples does Mr. Clifford use to illustrate comparative advantage?

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:25 PM

Comparative advantage is when one country is more productive producing a resource than another because of the opportunity costs. He uses the example of U.S. and Chinese plane and toy production.

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Weird econ: How a $40B trade deficit helps US

Weird econ: How a $40B trade deficit helps US | 6 Johnson Jasmine | Scoop.it

UNIT 6 INTERNATIONAL ECONOMICS QUESTION: How does a $40 billion trade deficit help the US?

6 Johnson Jasmine's insight:

The value of the US dollar will appreciate. 

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Forex Market Basics Video | Investopedia - YouTube

UNIT 6 QUESTION

What are some factors that can change the value of a country's currency?

6 Johnson Jasmine's insight:

The value of a currency can be changed by monetary policy, political stability, interest rates, and imports and exports. 

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Episode 34: Comparative Advantage & Trade - YouTube

INTERNATIONAL ECONOMICS

QUESTION:  How does Gilligan's Island illustrate comparative advantage?  How is comparative advantage different from absolute advantage?

6 Johnson Jasmine's insight:

Huts and fish were used to illustrate comparative and absolute advantage. Absolute advantage is simply who can produce more of an item. Comparative advantage is who can produce an item at a lower opportunity cost. Comparative advantage is what encourages trade. 

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:22 PM

Gilligan's Island illustrated comparative advantage by giving an example of producing huts and fish. Absolute advantage says that whoever produces the most, should produce that item, while comparative advantage says that whoever produces the most with the least opportunity cost, should produce that item.

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Episode 38: Trade Blocs - YouTube

INTERNATIONAL ECONOMICS 

QUESTION:  What are some examples of trade blocs?  What is a trade bloc?  What are the benefits for joining a trade bloc?

6 Johnson Jasmine's insight:

A trade bloc is a group of countries that agree to reduce and/or eliminate trade barriers among members. Trade blocs can be one of three forms: Preferential trade area, free trade areas, or customs unions. Benefits include being able to form their own rules of trade.

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:20 PM

Examples of trade blocks include preferential trade area, free trade area, customs union, common market, economic union, and full integration. Trade blocks are relationships between countries relating trade. Benefits of joining include agreements and treatment with some countries that you do not get with others.

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Macro Unit 5.1- Balance of Payments - YouTube

INTERNATIONAL ECONOMICS

QUESTIONS:  What does Mr. Clifford mean by "balance of payments?"  How is that different from "balance of trade?"  What is included in a country's "current account?"  What is included in a country's "capital account?"  

6 Johnson Jasmine's insight:

Balance of payments means that the current account and financial account will be equal. When there is a deficit in one account, there is a surplus in the other. The current account includes goods and services. The capital account includes the assets between countries. 

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:17 PM

Balance of payments is when the net exports is balanced with the purchasing/selling of a countries assets to another. A balance of trades is when net exports equal zero. A current account includes their exports and imports. A capital account includes a countries assets like bonds and securities.

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Macro 5.3- Foreign Exchange Practice - YouTube

INTERNATIONAL ECONOMICS

QUESTIONS:  Why is it that when one country's currency (ex. US dollar) appreciates, another country's currency (ex. Japanese Yen) depreciates?

6 Johnson Jasmine's insight:

When one country's currency appreciates, the other depreciates because in the forex market, in order to receive one currency, another must be spent, causing the depreciation/appreciation to work inversely. 

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Micro 1.3 Comparative Advantage: Econ Concepts in 60 Seconds - YouTube

INTERNATIONAL ECONOMICS

QUESTION:  Can you correctly answer an FRQ like the one Mr. Clifford explains in the video?  If not, will you ask questions in class?

6 Johnson Jasmine's insight:

Yes, I am able to correctly answer an FRQ such as the one in this video. If I am confused, I will ask questions in class. 

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4 Kilcrease Katherine's curator insight, November 12, 2014 1:26 PM

Country A has comparative advantage in cars and country b has the comparative advantage in rice because there is less of an opportunity cost 

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Understanding Forex Quotes Investopedia Videos - YouTube

UNIT 6 CHOICE FOREX TRADING

6 Johnson Jasmine's insight:

Foreign exchange market trading are always listed in pairs because you are buying one and selling the other. The currency listed before the slash is the base currency, while the second one is the quote currency. 

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Macroeconomics Foreign Markets and Trade Unit

Macroeconomics Foreign Markets and Trade Unit | 6 Johnson Jasmine | Scoop.it

INTERNATIONAL ECONOMICS

COMPUTER LAB ACTIVITY FOR 11/7/14

 

QUESTIONS/DIRECTIONS:  Complete the following exercises AND answer the question next to each exercise:

1.  U.S. Balance of Payments:  WHAT IS THE DIFFERENCE BETWEEN THE "CURRENT ACCOUNT" AND THE "CAPITAL (FINANCIAL) ACCOUNT" OF A COUNTRY?  WHY DO THE CURRENT ACCOUNT AND CAPITAL ACCOUNT ALWAYS BALANCE OUT?

2.  Current and Capital Accounts Interactive:  WHAT WAS YOUR SCORE?  WHICH ITEMS DID YOU MISS?

3. Exchange rates:  WHAT IS AN EXCHANGE RATE?  WHAT IS CURRENCY APPRECIATION?  WHAT IS CURRENCY DEPRECIATION?  WHAT CAUSES A CURRENCY TO CHANGE VALUE?  

4.  Currency Exchange Interactive:  WHAT WAS YOUR SCORE?

 

 

6 Johnson Jasmine's insight:

1. US BALANCE OF PAYMENTS: The current account includes imports and exports. The capital account includes US government  reserves, foreign currency purchased by the US, direct private investments, private ownership of foreign securities, and US claims. The current and capital account always balance out because a deficit or surplus in one account is matched by the opposite in the other account. 

2. CURRENT AND CAPITAL ACCOUNTS INTERACTIVE: I placed the emigrants sending money home in the current account, which was wrong. 

3. EXCHANGE RATES: The exchange rate is the value of money in terms of another currency. Appreciation is when the value of a currency increases; depreciation is when the value decreases. 

4. I missed 2. 

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6 Fernandes Chyla's curator insight, November 7, 2014 2:08 PM

1. The "Current Account" includes exports which are credits on the Balance of Payments, imports which are debits on the Balance of Payments - included in both are merchandise that is tangible, services that are intangible and income from assets. "Capital Account" are U.S. owned assets abroad(debits in the capital account because they are an outflow of Capital from U.S. to foreign countries), The other part of this is foreign owned assets in the U.S. These things always balance out because money spent on imports is larger than money spent on exports and there is more money coming in for assets by foreigners than there is money going out for the U.S. owned assets abroad; the unilateral current transfers and statistical discrepancy is then calculated and the negative amount is changed to a positive because of how things are filed differently in different countries. 

2. 13/15. Missed royalties from patents and royalties from copyrights..

3. An exchange rate is how much the value of one currency is for the other; like 1 US dollar is 42 Euro's. Currency appreciation is the increasing value of one currency for the other. So like the more US dollars that are demanded the higher value a single dollar bill holds. Currency depreciation is the loss of value of a currency with respect to one or more foreign reference currencies; less US dollars are demanded which makes one US dollar lose dollar amount. The thing that causes a currency to change value is the demand for that specific type of currency.

4. Score: 6/10

4 Kilcrease Katherine's curator insight, November 12, 2014 1:24 PM

 

1. Current account includes exports (credits) and imports (debit). The capital account includes US owned assets abroad and foreign-owned assets in the US. Because debit is negative and credit is positive. 

2. I missed unilateral transfers and foreign or domestic securities. Everything else I got correct.

3. Exchange rate is the price of a nation's currency in terms of another currency. Currency appreciation is an increase in the value of one currency in terms of another. Currency depreciation is a decrease in the level of a currency in a floating exchange rate system due to market forces.
4.  9/10