Comparative advantage is a powerful concept that usually appears in the second chapter of any intro-level economics class. However, many students struggle with this difficult concept. Comparative advantage is the basis of international trade. This conclusion is usually directly provided by the textbook, but it is not something students understand overnight. Therefore, it is necessary to help students explore why countries trade by showing them the evolution of international trade theories from Mercantilism, Adam Smith’s Absolute Advantage Model, and eventually David Ricardo’s Comparative Advantage Model.
About the Presenter:
Dr. Ying Zhen is Associate Professor of Business and Economics at Wesleyan College in Macon, Georgia. She earned a B.A. in Media Economics at Communication University of China in 2007; M.A. in Economics from Clark University in 2009; and Ph.D. in Economics from Clark University in 2012. Her major fields of specialization are labor economics and industrial organization. Specific research interests include economics of immigration and music business. It was Dr. Zhen’s honor to work with Professor Alan B. Krueger of Princeton University on the Survey of Well-being of Musicians in the United States from December 2017 to June 2018. Zhen considers economics a universal science, which should be open to everyone. Her ultimate goal is to help students see the world through the eyes of an economist, making them appreciate the beauty of economics and become civilized world citizens.
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