This latest edition has been updated with comprehensive new notes and activities, all presented in a clear and logical sequence. It is designed to assist students with understanding the economic concepts and models required to prepare for assessments. A range of summative review questions builds up the student s confidence for tackling the end of year examinations.

Contents

AS 91223: Analyse international trade using economic concepts and models (2.2)

1 The nature of trade

2 Free trade and protectionism

3 Exchange rates

4 The balance of payments

5 The two country trade model

6 The one country trade model

7 Tariffs and fluctuations in trade

8 Review (Exam) questions