AP Economicsmacroeconomics

Unit 1B: Introduction to Trade

What better way to begin a study of Macroeconomics then to take a look at the basics? In this unit we will look at the important ideas of scarcity and opportunity costs. This is the introduction on how to think like an economist. In economics we will have to examine all choices from a cost - benefit perspective, "What is there to gain? What has to be given up? And is the cost too high?" To get a good look at this we will examine two important concepts, comparative advantage and trade. We will understand how opportunity costs are important to understand why we trade and why people benefit from trade."

Study Tools

Online Textbook Resources

Unfortunately, due to the age of the textbook, the publisher has removed all online content associated with our textbook. While we will use the book as an important source, the links given therein are no loner functioning. As a result, I will look online for other sources related to the topics in our text. Likewise, I encourage you to let me know of any useful websites that you come across in your studies so that I may add them to the site and share with everyone.


Video Link: Learner.org

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