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References: International Trade

  1. Comparative Advantage - Wikipedia - Explains David Ricardo's foundational insight that countries benefit from trade by specializing in goods they produce at the lowest opportunity cost.

  2. Balance of Trade - Wikipedia - Covers trade deficits and surpluses, how they are measured, what they mean for an economy, and common misconceptions about trade balances.

  3. Tariff - Wikipedia - Describes how taxes on imports affect prices, domestic producers, consumers, and government revenue, including historical and modern examples of trade policy.

  4. International Economics: Theory and Policy (12th Edition) - Paul Krugman, Maurice Obstfeld, Marc Melitz - Pearson - Leading textbook on international trade theory, trade policy, exchange rates, and the global financial system by a Nobel Prize winner.

  5. The Travels of a T-Shirt in the Global Economy (2nd Edition) - Pietra Rivoli - Wiley - Engaging narrative that traces a t-shirt through the global supply chain, illustrating comparative advantage, trade policy, and globalization in action.

  6. Free Trade - Concise Encyclopedia of Economics - Expert discussion of why economists overwhelmingly support free trade, the gains from specialization, and the costs of protectionism.

  7. Protectionism - Concise Encyclopedia of Economics - Analyzes tariffs, quotas, and other trade barriers, explaining who benefits and who loses from protectionist policies.

  8. U.S. Trade Balance - Federal Reserve Economic Data (FRED) - Monthly data on the difference between U.S. exports and imports, showing the trade deficit trend and its relationship to the broader economy.

  9. U.S. Dollar Exchange Rate - Federal Reserve Economic Data (FRED) - Trade-weighted dollar index showing how the value of the U.S. dollar changes relative to other currencies, affecting import and export prices.

  10. World Trade Data - World Bank - International data on trade as a percentage of GDP across countries, illustrating how globalized different economies are and trends in world trade.