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A Classroom Experiment on Import Tariffs and Quotas Under Perfect and Imperfect Competition

Author

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  • Mulholland, Sean

Abstract

This manuscript develops a classroom experiment on international trade that is suitable for undergraduate intermediate macroeconomics, international trade, and international finance courses. Students representing buyers, in a small home country and foreign country, and sellers, both home and foreign, participate in a double-oral-auction to determine the price and level of international trade. By imposing tariffs and quotas and altering the structure of the home market from one of perfect competition to one of imperfect competition, the students experience the importance of market structure when seeking to determine efficiency effects of import tariffs and quotas.

Suggested Citation

  • Mulholland, Sean, 2010. "A Classroom Experiment on Import Tariffs and Quotas Under Perfect and Imperfect Competition," MPRA Paper 26442, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:26442
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    File URL: https://mpra.ub.uni-muenchen.de/26442/1/MPRA_paper_26442.pdf
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    References listed on IDEAS

    as
    1. James J. Murphy, 2004. "A Simple Program to Conduct a Hand-Run Double Auction in the Classroom," The Journal of Economic Education, Taylor & Francis Journals, vol. 35(2), pages 212-212, April.
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    More about this item

    Keywords

    experiments; trade; quota; tariff; imperfect competition;
    All these keywords.

    JEL classification:

    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • D41 - Microeconomics - - Market Structure, Pricing, and Design - - - Perfect Competition
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • D42 - Microeconomics - - Market Structure, Pricing, and Design - - - Monopoly
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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