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Lecture 19: International Trade

Lecture 19: International Trade

This video was recorded at 14.01SC Principles of Microeconomics, Fall 2011. How many of you have received flowers for Valentine's Day? Of course, February in New England is snowy, and those flowers are not raised locally—they are imported from other countries. International trade is hugely important in national and international economies today, but up to this point it has been excluded from our models. In this lecture, a basic introduction to the principles of international trade is provided.

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