Economics and Comparative Advantage
Economics and Comparative Advantage BY Bran_Flakes Fantasy Football In the “Fantasy Football” article Isaac Morehouse explains opportunity cost and comparative advantage by providing an illustration into everyday life. He provides the example of the fantasy football commissioner’s veto to economics in everyday life. He explain how sometimes you need to think “outside of the box” if you will. I would assign this essay a solid B.
I feel this article deserves a B because it is a good example for me to relate to however, if you don’t understand anything about football real or fantasy) it may be a little harder to understand the relationship between real world economics and the example. A Brief History of the Concept of Comparative Advantage In the “Brief History’ article Morgan Rose explains the concept of comparative advantage by explaining the origination of the concept. He provides a look into the history of comparative advantage and the coining of the term.
I would assign this article an A because even though it is a boring history essay it is 100% to the point and informative. For example, the author writes about how the terms evolved over the years. Pineapples Shouldn’t Be Grown in North Dakota In
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For example they use direct quotations from authors in the essay. Free Trade Benefits High-paid U. S. Workers In “Free Trade Benefits High-paid U. S. Workers” author Lee explain comparative advantage by the method of application. He extends the concept of comparative advantage to reflect on current events and public policies. For example he uses a model problem with the United States and Brazil trading cars and computers. I would assign this essay a solid B because although it explains comparative advantage very ell I feel better examples could have been provided such as a real current trade market example.
Rankings I would rank “Pineapples Shouldn’t Be Grown in North Dakota” as number 1 because it produced the best all-around examples and explanations. Next I would give the second spot to “A Brief History of the Concept of Comparative Advantage” because even though it was like a boring history lesson it was very informational. The third spot goes to the “Fantasy Football” essay because although I personally understood he example some people may not completely understand.
Lastly I give “Free Trade Benefits High-paid U. S. Workers” the fourth spot because I feel that better examples could have been provided and also I “connected” with this essay the least of the four. Approaches I feel that the most useful approach for me is an illustration because I can relate closely to most modern day examples. I also consider illustrations to be the most effective approach to learning for young people of my generation because my day examples more so than any other form of relative examples.