Compare the neoclassical model, the new endogenous growth model
and the strategic trade theory. Any differences between these
theories? What are the differences? Explain in detail.
Pick one contemporary trade theory (PRODUCT LIFE CYCLE THEORY,
STRATEGIC TRADE THEORY, or DIAMOND THEORY – NATIONAL THEORY OF
COMPETITIVE ADVANTAGE), define the theory. Tell me one industry
that fits into this theory and why. What is the
difference between comparative advantage and absolute
advantage?
Contrast the neoclassical economic theory with the new economic
theories (new endogenous growth theory, new economic geography, and
strategic trade theory)? Do the new economic theories reject the
neoclassical economic theory? Substantiate your arguments with real
world case(s) and example(s). ( Explain it in detail)
1. Compare and contrast the classical and neoclassical theories.
What are some problems with each of the schools? Include
information on assumptions, relevant theorists, and applicable
studies. Be specific
2. How have biological theories changed over time? Use specific
examples to enhance your answer.... Be specific