Before Class on Tuesday, 10/12
Watch (14:27): Blumberg (2013) (see notes)
Read: Lumen Learning “Absolute and Comparative Advantage” & “Comparative Advantage and Gains from Trade”
Before Class on Friday, 10/15
Have tried or completed all of Weekly Review 6
Material Links
Blumberg, Alex. (2013) “Planet Money Makes a T-Shirt.” Planet Money. NPR. https://apps.npr.org/tshirt/#/title
Lumen Learning “Absolute and Comparative Advantage” https://courses.lumenlearning.com/wm-macroeconomics/chapter/absolute-and-comparative-advantage/ & “Comparative Advantage and Gains from Trade” https://courses.lumenlearning.com/wm-macroeconomics/chapter/reading-absolute-advantage-2/
Notes on Blumberg:
Prioritize “People,” “Boxes”, and “You” if you have to skip some chapters but they are all very engaging and highly encouraged!
Time Breakdown by Chapter :
Intro (0:45)
Cotton (02:32)
Machines (01:33)
People (06:21)
Boxes (01:37)
You (01:40)
1) In Blumberg, Alex (2013), Alex says that as economies grow and countries move into other, more lucrative industries, textiles and apparel becomes less important. Do you agree or disagree and why?
2) I learned that a single t-shirt start as U.S. cotton, then travel to Indonesia, Bangladesh and back to the U.S., all for far less than a dollar in shipping costs.
3) My favorite part is the different stories there is behind a single t-shirt and my least favorite part is that some of the people involved with the making of shirts don’t get enough money compared to other people in different countries.