Absolute and Comparative Advantage

In the Mercantile period, from the 16th through the end of the 18th centuries, trade was driven by a need to accumulate gold and silver. Nations worked to restrict imports and drive exports. With the advent of the Industrial Age, classical economists began to look at trade and international commerce in a different light. In his seminal work The Wealth of Nations, Adam Smith discussed the idea that the basis of trade could be seen in light of what he called absolute advantage. His contemporary, David Ricardo, took a different and modified approach and laid out a framework called comparative advantage. This latter theory is the basis for all modern views of international trade. For this Discussion Board, complete the following: •Define absolute and comparative advantage. •Compare the two views on trade. •How does the concept of opportunity cost factor into comparative advantage? •Discuss why you think comparative advantage has become the fundamental and accepted theory of trade. Provide concrete examples Absolute and Comparative Advantage

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In the Mercantile period, from the 16th through the end of the 18th centuries, trade was driven by a need to accumulate gold and silver. Nations worked to restrict imports and drive exports. With the advent of the Industrial Age, classical economists began to look at trade and international commerce in a different light. In his seminal work The Wealth of Nations, Adam Smith discussed the idea that the basis of trade could be seen in light of what he called absolute advantage. His contemporary, David Ricardo, took a different and modified approach and laid out a framework called comparative advantage. This latter theory is the basis for all modern views of international trade. For this Discussion Board, complete the following: •Define absolute and comparative advantage. •Compare the two views on trade. •How does the concept of opportunity cost factor into comparative advantage? •Discuss why you think comparative advantage has become the fundamental and accepted theory of trade. Provide concrete examples Absolute and Comparative Advantage

 

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Graduate Education Assistance Assignment

 

Please answer the discussion question in 150 words each, my use in-text citation and response 75-100 words.

Question 1:

There are many overarching pedagogical approaches to teaching, including a student-centered classroom, an inquiry-based classroom, a project-based classroom, a flipped classroom, and many more. Pick one pedagogical approach to teaching in your content area. Why do you like this approach? How does this approach align with your content area?

Response 1: Jacqueline: As with most topics, I had to first learn what a pedagogical approach was as I had never heard the term prior to this class. My understanding is that it is simply the approach a teacher uses when instructing. “Pedagogy is a term that refers to the method of how teachers teach, in theory and in practice. Pedagogy is formed by an educator’s teaching beliefs and concerns the interplay between culture and different ways to learn. In order to help students to build on prior learning, meaningful classroom relationships must exist.” (Tophat, n.d.) There are different types of pedagogical approaches: behaviorism, constructivism, social constructivism, liberationism. In a math course I would likely use social constructivism. This would be a combination of teacher guided and student-centered approaches. I would use a variety of group, pair, individual and whole class instruction. This theory centers on the fact that learning is a collaborative process between the students and the teacher. (TES, 2021). I like this approach for math because students don’t all learn the same way. Using different approaches or differentiated styles will allow me reach more of them for this difficult subject. I also think that they can learn a lot from each other. Sometimes they don’t want to ask questions out loud because they feel unintelligent. Being in pairs or small groups will ease their insecurities. They also may have different ways to show each other how to workout problems. Math can be explained in so many ways… sometimes it may just take a different wording for someone to “get it”.Graduate Education Assistance Assignment

Response 2: Christopher wrote: As with most topics, I had to first learn what a pedagogical approach was as I had never heard the term prior to this class. My understanding is that it is simply the approach a teacher uses when instructing. “Pedagogy is a term that refers to the method of how teachers teach, in theory and in practice. Pedagogy is formed by an educator’s teaching beliefs and concerns the interplay between culture and different ways to learn. In order to help students to build on prior learning, meaningful classroom relationships must exist.” (Tophat, n.d.) There are different types of pedagogical approaches: behaviorism, constructivism, social constructivism, liberationism. In a math course I would likely use social constructivism. This would be a combination of teacher guided and student-centered approaches. I would use a variety of group, pair, individual and whole class instruction. This theory centers on the fact that learning is a collaborative process between the students and the teacher. (TES, 2021). I like this approach for math because students don’t all learn the same way. Using different approaches or differentiated styles will allow me reach more of them for this difficult subject. I also think that they can learn a lot from each other. Sometimes they don’t want to ask questions out loud because they feel unintelligent. Being in pairs or small groups will ease their insecurities. They also may have different ways to show each other how to workout problems. Math can be explained in so many ways… sometimes it may just take a different wording for someone to “get it”.Graduate Education Assistance Assignment.

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Question 2:

When planning instruction, a teacher must integrate curriculum and instructional strategies that students can relate to on a personal level. Consider the community in which you plan to teach. Describe the community’s demographics in 2-3 sentences. Discuss how you will plan instruction that considers students’ unique personal backgrounds, interests, and home lives.

Response 1: Allecia wrote: I teach Foods and Art at a high school in a smaller city with a total population of 51,000-52,000. The majority of the students are white, with a smaller percentage of students identifying as black, hispanic, asian, and/or Native American. A large portion of the students receive free and reduced lunch and would be considered of lower socioeconomic status.Graduate Education Assistance Assignment

After getting to know my students, I have found that many students have little to no experience cooking at home. This is due to lack of equipment and access to groceries. My district’s curriculum has some higher level cooking skills to be achieved. For most of my students, I need to teach basic skills of how to do dishes, how to turn on an oven or stove, etc. The reality is, some students might get to those higher level cooking skills that might be used if pursuing a career as a chef, but I place a lot of emphasis on “life skills” and things that students will need to know how to do in order to take care of themselves. If I did not first take the time to get to know my students, and went straight into the more challenging cooking concepts, there would be large gaps in understanding.

 

Graduate Education Assistance Assignment 

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Jose is the manager of a children’s baseball league. Jose wants to know if the four new teams (teams A, B, C, and D; the sample) that were added this year differ from the whole population of children’s baseball teams across the nation in terms of the number of games they won last season. For the whole league (the population), the population mean = 10.13 games won, and the σ (population SD) = 5.12.  

Below are the number of games won for the four new teams this year

Team	Number of games won
A	1
B	2
C	4
D	2

1. State the null hypothesis

A. H0: The sample drawn from the population reflects the population, or M ≠ µ

B. H0: The sample drawn from the population reflects the population, or M = µ

• State the alternative hypothesis

A. H1: The sample drawn from the population does not reflect the population, or M ≠ µ

B. H1: The sample drawn from the population reflects the population, or M = µ

• Indicate the level of risk used in psychology

A. The level of risk is .01

B. The level of risk is .05

C. The level of risk is .1

D. The level of risk is .5

• Determine the best statistical test to use

ANOVA

A. Z score test

B. Correlational test

C. One-sample Z test

D.

E. T-test

• First, you’ll have to calculate the SEM. Use the values provided and the formula in the book/lecture to calculate the SEM. Put your value below. Round your response out to two decimal places.
• Now, Compute the test statistic (Use the formulas in the book / lecture to calculate the correct statistic). 
• The value needed to reject the null hypothesis (the critical value) is ___________.

A. 1.96

B. 0.05

C. 2.10

D. 3.25

• Does the obtained value exceed the critical value (that is, is the obtained value larger than the critical value)?
• Based on your answer to the previous question, the decision is to ____________

A. Fail to reject the null hypothesis

B. Reject the null hypothesis

1. Write up your results as you would see it in a results section of an empirical research paper:
2. Jose is also the coach for 4 teams in the league (Teams E, F, G, and H). He wants to know if his four teams are significantly different from the whole population. Does this group significantly differ from the population? What is the z value for this new sample? Round your answer out to two decimal places.

Number of Games Won by Team 

Teams	Number of Games Won
E	10
F	15
G	12
H	3

1. Do Joes’s 4 teams that he is the coach for significantly differ from the whole population?

A. Yes

B. There is not enough information to answer this question

C. No

 

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· The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.

· Assignments submitted through email will not be accepted.

· Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.

· Students must mention question number clearly in their answer.

· Late submission will NOT be accepted.

· Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. 

· All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).

· Submissions without this cover page will NOT be accepted. 

 

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