Chapter organization Introduction The Concept of Comparative Advantage A One-Factor Economy Trade in a One-Factor World Comparative Advantage with Many Goods Adding Transport Costs and Nontraded Goods Summary

Introduction What is International Economics about? International Economics: Trade and Money

There are many structural configurations where we do not have to deal with the full 3-D case. First let's consider the models Let's then see under what conditions we can apply them A. Plane Stress

As we've previously noted, we may often want to describe a structure in various axis systems. This involves... Transformations (Axis, Deflection, Stress, Strain, Elasticity Tensors) e.g., loading axes material principal axis Figure 7.1 Unidirectional Composite with Fibers at an Angle

We do not characterize materials by their E mnpq The Emnpa are useful in doing transformations, manipulations, etc. We characterize materials by their \ENGINEERING CONSTANTS\ (or, Elastic Constants)

Sources of Stresses and Strains Depends on type of structure Aircraft

Let's first review a bit... from Unified, saw that there are basic considerations in elasticity: 1. Equilibrium 2. Strain-Displacement 3. Stress- Strain Relations (Constitutive Relations)

Recall the definition of stress: o stress =\intensity of internal force at a point\ Figure 3.1 Representation of cross-section of a general body

Optimization See Sydsaeter(2005, Chapters 2, 3)and Chiang(1984, Chapters 9, 11, 12 and 21) Positive definite matrix Definite matrices are directly related to optimization. A symmetric matrix A is positive semi- definite(A≥0) if rAr≥0,Vx; positive definite(A>0)

Corporate finance 1. Theoretical Approaches 1.1. Corporate Finance in Arrow-Debreu world Complete market, perfect market, perfect competition, symmetric information, private consumption Risk: risk sharing, risk pooling, technology shocks, individual vs aggregate shocks Lucas(1978): existence of equilibrium asset price Merton: continuous-time pricing model