What is the Heckscher-Ohlin theorem?

Answer all questions, using citation and personal perspective where appropriate.


  • What is the Heckscher-Ohlin theorem?
  • Name three dynamic gains from trade.
  • Explain the price-specie flow doctrine.
  • Identify and describe the three “waves” of globalization discussed in the lecture.
  • Compare and contrast two discussed trade barriers, tariffs, or quotas.
  • What is “dumping,” and who determines when dumping has taken place?
  • What is the difference between global quotas and selective quotas?
  • Why would a country set an export quota?


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