Understanding Tariff Impact

In course

Description

This lecture delves into the analysis of trade policy's impact on the economy, focusing on the effects of tariffs. It covers topics such as the different types of tariffs, how tariffs change prices and quantities, and the welfare effects on both the home and foreign markets. The lecture also explores the distributional consequences of tariffs within nations, highlighting winners and losers. Through a series of MS-MD diagrams and real-world examples, the instructor provides a comprehensive overview of the positive and negative implications of tariffs on trade and welfare.

Official source

https://mediaspace.epfl.ch/media/0_o1hkfi2s

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Related concepts (43)

Tariff

A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.

Geneva

Geneva (dʒəˈniːvə ; Genève ʒənɛv) is the second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaking part of Switzerland. Situated in the south west of the country, where the Rhône exits Lake Geneva, it is the capital of the Republic and Canton of Geneva, and a center for international diplomacy. The city of Geneva (ville de Genève) had a population of 203,951 in 2020 (Jan. estimate) within its small municipal territory of , but the Canton of Geneva (the city and its closest Swiss suburbs and exurbs) had a population of 504,128 (Jan.

Canton of Geneva

The Canton of Geneva, officially the Republic and Canton of Geneva, is one of the 26 cantons forming the Swiss Confederation. It is composed of forty-five municipalities, and the seat of the government and parliament is in the City of Geneva. Geneva is the French-speaking westernmost canton of Switzerland. It lies at the western end of Lake Geneva and on both sides of the Rhone, its main river. Within the country, the canton shares borders with Vaud to the east, the only adjacent canton.

Geneva Conventions

The Geneva Conventions are four treaties, and three additional protocols, that establish international legal standards for humanitarian treatment in war. The singular term Geneva Convention usually denotes the agreements of 1949, negotiated in the aftermath of the Second World War (1939–1945), which updated the terms of the two 1929 treaties and added two new conventions. The Geneva Conventions extensively define the basic rights of wartime prisoners, civilians and military personnel, established protections for the wounded and sick, and provided protections for the civilians in and around a war-zone.

Welfare

Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. most pension systems), as opposed to social assistance programs which provide support on the basis of need alone (e.g. most disability benefits).