International Economics Project

Part I

China can produce 60,000 units of wheat or 80,000 units of rice. Russia can produce 30,000 units of wheat or 60,000 units of rice.

Use the above information to conduct the following tasks and to answer the following questions:

(1) Create a production possibility curve using the above information.

(2) Estimate the absolute advantage for each product.

(3) Calculate the comparative advantage for each product and illustrate it on your visual.

(4) Decide who should produce each product and illustrate it on your visual.

Part II

You will be planning your very own vacation to one of three countries - Mexico, Japan, or France. Your journey begins here, in Mt. Airy, Ga where you will learn about different currencies from countries around the world and what the American dollar is worth there. Once you've learned that, you'll be flying out of Hartsfield-Jackson Airport in Atlanta to the country of your choosing, where you will need to put your knowledge of currency and exchange rates to the test.

Before you go, you must learn about the variety of currencies used around the world. From there, you will create an expense sheet, converting the national currency to the American dollar, in order to compare the cost of travelling to Mexico, Japan, and France. Then, you will decide which country to travel to, and answer the accompanying questions. Listed below are the specific requirements for your expense sheet.

Requirements - Keep in mind that you will be researching the cost of each of the travel needs in all three countries (Mexico, Japan, and France).

1. A Flight - Round trip for one, 5 days, 4 nights

2. A Hotel - A place to sleep for 4 nights while visiting

3. Transportation - Because the first and last day will be reserved for your flight, you will only need a rental car for 3 days.

4. Food - Use the estimated average cost per day for Americans.

5. Entertainment - You will be jet-lagged the first day, so you will only need an activity for each of the 3 nights.

6. Souvenirs - You will be buying a souvenir for yourself and 2 friends from home.

**You will need to illustrate Exchange Rates, the Expense Table & answer accompanying questions on your visual**

CURRENT EXCHANGE RATES

*For each country below, find the name of that country’s currency and list the current exchange rate for 1 USD.

MEXICO:

JAPAN:

FRANCE:

EXPENSE TABLE

MEXICO / JAPAN / FRANCE
FLIGHT
HOTEL
TRASPORTATION
FOOD
ENTERTAINMENT
SOUVENIRS
TOTAL COST IN USD
  1. What country did you choose to visit and why?
  2. List whether the USD is “stronger” or “weaker” in each country:
  3. In what countries would you, as a tourist/consumer, be the exchange rate “winner” and/or “loser”?
  4. What Hotel did you choose to stay at?
  5. What entertainment did you choose?
  6. What souvenirs did you choose?

Exchange rates:

Travel expenses:

France Information:

Mexico Information:

Japan Information: