Trade. Balance of Payments Demand and Supply- 2 country model.

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Presentation transcript:

Trade

Balance of Payments

Demand and Supply- 2 country model

PPF – Comparative Advantage

Why use them? Consider not what they don’t tell you and what they do If you have a point to make, use the most appropriate stats and or models. If you have to communicate a complex idea, how can you do it in a way that is easy to understand and demonstrate? If you want to paint a picture of how the NZ economy is doing, what stats would you need? Which are the most accurate for what you are looking at?