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Comparative Advantage Short Online Courses for Consumers

In the Comparative Advantage courses, you will meet Jack Of All Trades, a most awesome superhero. In all tasks, Jack can do everything better and faster (he has absolute advantage), but does that mean he must do everything while the rest of the people stand around helplessly? Find out if justice is served when a formerly idle citizen, Andy, wades through the depths of opportunity cost and the benefits of comparative advantage.

Take one or more of five short courses, or the complete course:

Jack of All Trades: Absolute Advantage

In this course, students are introduced to absolute advantage, the ability to produce more of a good or service than another producer using the same amount of resources as that producer.

Jack of All Trades: Comparative Advantage

In this course, students learn that even when absolute advantage exists, two parties can still benefit from trading, if they do so according to their comparative advantage.

Jack of All Trades: Production Possibilities Frontier

In this course, students learn about the production possibilities curve, a graphic representation of output combinations that can be produced given an economy’s available resources and technology.

Jack of All Trades: Advanced Specialization

In this course, students use their knowledge of the production possibilities curve to determine how specialization in production can yield greater global consumption.

Jack of All Trades: Benefits of Trade

In this course, students learn that economies can experience greater consumption through specialization and trade. They also determine terms of trade.

Comparative Advantage

Also view our online course Comparative Advantage. This course consolidates all five of the Jack of All Trades short courses into one complete online course.

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Audience:   Consumers
Language:   English
Subjects:   Economics
Resource Types:   Online Course
Concepts:   Production Possibilities Frontier, Trade/International Trade, Opportunity Cost, Productivity