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These are the chapters for this week

Chapter 6 Slides Review Chapter 2 Production Possibility Frontier .Absolute Advantage Comparative Advantage Normative vs. Positive Economics Circular Flow Diagram Chapter 6/21 MacroeconomicsCh. 7/22 . Track the performance of the economy .What gross domestic product. or GDP is and the three ways of calculating it Real GDP and Nominal GDP Calculate the inflation rate with a price index

And this is the exercise we have to do:

Introduction to CEE: Chapter 6 & 7 topics This assignment is meant to be a very brief connection of what we are learning irn here to the real world out there. Describe a current event connected to the course material for the week (from chapter 6 or chapter 7) from a recent periodical Grading Rubric (10 points): Describe the Current Event article 4 points, Course Citations (in-text and work cited for article, 1 each)- 2 points Content Description- points,

CEE Instructions: Current Economic Events: Read and think about current economic events in periodicals such as the Economist, Oregonian and Wall Street Journal. Describe a current event connected to the course material for the week (content topics can be found listed at the beginning and in the summary at the end of each textbook chapter) in 3-5 sentences, from a recent (within the last year) periodical. Include a direct quote from the textbook and describe the connection, in 3-5 sentences, to this weeks course content, and the in-text citation (Author, year, p. #). Include the textbook page reference (p. #) Include the Article Citation (Author, Date, Title, Publisher, Location/web address) and the textbook content page reference.

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Answer #1

Brexit has its own pros and cons but the cons certainly superseded the pros. The Brexit event which comes to fruition on29th March 2019 is posied to leave UK out of EU which can cause short term instability in UK since companies no longer enjoy the single currency market, regulations, compliance and superiir accessibility to markets under free territories. So companies have to shift their bases and boost economic activity as well as job opportunities for UK citizens which already faces an immigration issue just like US Does which is an uphill task.

It would be interesting to see how Brexit commercialises and what impacts it holds in future because of volatility .

In the book - Basics Of International Economics by Christian Bjornskov, Year 2005, Page 11. The author mentions that "David Ricardo in 1817 proposed what is known as theory of Comparative Advantage to explain how trades can benefit countries even if they dont have an absolute advantage."

This is extremely correlevant to above article of Brexit where UK shall benefit greatly from other EU nations if Brexit does not take place solely because of Comparative Advantage in luxury goods which it exports amongst EU Nations even if it does not have an entirely absolute advantage because if free trade and higher accessibility in EU regions.

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