Lecture 1 Part 1

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Lecture 1 Part 1

• Chapter 1
• Introduction to the World Economy

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Figure 1 Honda Cars Produced and Exported by
Region, Jan-Sept 2004
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Figure 3 Transport and Communication Costs.
1930-1990 (Index 1930100)
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Figure 4a Growth in World Merchandise Trade and
Output Volume, 1950-2002 (Present)
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Figure 4b Growth in World Merchandise Trade and
Output Volume, 1990-2002 (Present)
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Figure 6 U.S. Merchandise Imports and
Exports,1950-2002 (Billions )
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The US Economy 2006

• GDP 12.9 trillion
• Exports of goods 1.024 trillion
• Export goods
• Agricultural products (soybeans, fruit, corn)
  9.2,
• Industrial supplies (organic chemicals) 26.8,
• Capital goods (transistors, aircraft, motor
  vehicle parts, computers, telecommunications
  equipment) 49.0,
• Consumer goods (automobiles, medicines) 15.0
• Main export partners
• Canada 23,
• Mexico 14,
• Japan 6,
• Mainland China 6,
• United Kingdom 3.5

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The US Economy 2006

• Imports 1.869 trillion
• Import of goods
• Agricultural products 4.9,
• Industrial supplies 32.9 (crude oil 8.2),
• Capital goods 30.4 (computers,
  telecommunications equipment, motor vehicle
  parts, office machines, electric power
  machinery),
• Consumer goods 31.8 (automobiles, clothing,
  medicines, furniture, toys)
• Main import partners
• Canada 17,
• Mainland China 16,
• Mexico 11,
• Japan 8