List

Lecture Plan - Trade Tariffs and Welfare

Estimated time - 1.30 minutes

Aims

To look at examples of the effects of trade creation/diversion

To explore the similarities of import quotas and restrictive licensing

to derive appropriate policy steps from this analysis

to show how the analysis in terms of macro institutions like the GATT and the WTO.

Learning objectives

Students should understand what a tariff and a deadweight loss is, be able to compute the 'before and after' effects of each type of tariff and quota imposition, and be able to argue for and against a policy on the grounds of free trade theory.

Introduction

Last week we saw the differences between trade creation, trade destruction, and the welfare effects of both. We finished the history of the EU, showed some data, and did some institutional analysis with our friend Beach.

This week we'll look at the effects of tariffs, import quotas, and restrictive licensing, and derive some interesting and unexpected results from the analysis.

Further reading

• El-Agraa, A.M., The European Union: Economics and Policies, 6th ed., pgs 1-19 and 72-79,

337.142 AGR.

• McDonald, F. and Dearden, S. European Economic Integration, 3rd ed., pgs 34-53, 337.142 MCD

Watch the slideshow below, or click on the 'slideshare' icon in the bottom left hand corner to download it.

Download the handout by right clicking the image below:

Ec4333 Lecture4 Handout Numbers-1

  Posts

1 2 3 142
March 24th, 2018

Capital inflows, crisis and recovery in small open economies

Our latest paper, and my first with my Melbourne School of Government affiliation (plus my UL one, of course) is […]

March 7th, 2018

Southern Charm

What's it like working at Australia's number one university, ranked 23rd in the world for social sciences? It's pretty cool, […]

February 7th, 2018

Freedom interview

I did an interview for an app I love using called Freedom. Basically I pay them to block off the […]

December 10th, 2017

Marian Finucane Interview

I did a fairly long interview about the experience of moving to Australia with my family. You can listen here.

November 17th, 2017

Increasing wages for macroeconomic stability

My first piece for the conversation is here. I'm arguing the economy would benefit from wage increases, paid for from […]

November 14th, 2017

Health Workforce Planning Models, Tools and Processes: An Evidence Review

Below is my recorded talk, here are my slides, and the handout for the 4th Global Forum on Human Resources for […]

October 5th, 2017

Aalborg Keynote

My talk from the fourth Nordic Post Keynesian conference is up. The full list of keynotes is here.

October 1st, 2017

AIST Debt and Demography talk

(Apparently Limerick is in the UK now!)

September 7th, 2017

My AIST Keynote: Europe Exposed

In which a camera man faints halfway through--he's OK though, I checked afterwards!

July 22nd, 2017

MacGill Summer School Speech

My speech at the MacGill Summer School is here. Thanks to Joe Muholland for inviting me to speak.

May 25th, 2017

Business Post Articles

All my Sunday Business Post articles (back to 2014/5, when I joined the paper) are available here, behind a paywall, and […]

January 15th, 2017

A month with the MacBook Pro

This is a quick update to the the previous post about getting a new MacBook Pro. So far three things […]

December 23rd, 2016

Some Thoughts on the New MacBook Pro

I’ve been working on Mac laptops since the early 2000s. I typically get a new one every 2-3 years. My […]

December 13th, 2016

Strange days indeed

We’re living through very strange times. Times when it’s a good thing that only 46 per cent of the Austrian […]

November 22nd, 2016

Will robots eat your job? @ryanavent's snapshot of a global economy in flux

Review of 'The Wealth of Humans', By Ryan Avent, Penguin, €19 Will robots eat your job? Will your kids have […]