A Classroom Experiment on Import Tariffs and Quotas Under Perfect and Imperfect Competition
AbstractThis manuscript develops a classroom experiment on international trade that is suitable for undergraduate intermediate macroeconomics, international trade, and international finance courses. Students representing buyers, in a small home country and foreign country, and sellers, both home and foreign, participate in a double-oral-auction to determine the price and level of international trade. By imposing tariffs and quotas and altering the structure of the home market from one of perfect competition to one of imperfect competition, the students experience the importance of market structure when seeking to determine efficiency effects of import tariffs and quotas.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 26442.
Date of creation: 04 Nov 2010
Date of revision:
experiments; trade; quota; tariff; imperfect competition;
Find related papers by JEL classification:
- A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- D41 - Microeconomics - - Market Structure and Pricing - - - Perfect Competition
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies
- D42 - Microeconomics - - Market Structure and Pricing - - - Monopoly
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
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- James J. Murphy, 2004. "A Simple Program to Conduct a Hand-Run Double Auction in the Classroom," Journal of Economic Education, Taylor and Francis Journals, vol. 35(2), pages 212-212, April.
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