Record Details

Learning Heckscher-Ohlin Model in Five Easy Steps

Journal of Economics and Political Economy

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Field Value
 
Title Learning Heckscher-Ohlin Model in Five Easy Steps
 
Creator GOKCEKUS, Omer; School of Diplomacy and International Relations

Seton Hall University
BENGYAK, Kevin; Seton Hall University, School of Diplomacy and International Relations, McQuaid Hall, 400 South Orange Ave, NJ, 07079, USA
 
Description Abstract. With students in the policy and business schools with no formal economics background in mind, we propose an intuitively appealing and simple step-by-step graphical approach to explain the Heckscher-Ohlin (HO) model. Our approach is simple because it needs only two pieces of information, specifically about factor endowments and factor intensities, and from there it uses straightforward logic to construct the HO model. In easy five steps we show how to build the HO model and derive its three theorems, specifically, pattern of trade, factor price equalization, and income distribution.Keywords. Heckscher-Ohlin theory, teaching economics.JEL. A20, F11
 
Publisher Journal of Economics and Political Economy
Journal of Economics and Political Economy
 
Contributor —
 
Date 2015-03-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEPE/article/view/186
10.1453/jepe.v2i1.186
 
Source Journal of Economics and Political Economy; Vol 2, No 1 (2015): March; 137-143
Journal of Economics and Political Economy; Vol 2, No 1 (2015): March; 137-143
2148-8347
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEPE/article/view/186/320
 
Rights Copyright (c) 2015 Journal of Economics and Political Economy
http://creativecommons.org/licenses/by-nc/4.0