国际经济学全套课件312p-(英文版).ppt

上传人(卖家):晟晟文业 文档编号:4482809 上传时间:2022-12-13 格式:PPT 页数:313 大小:3.05MB
下载 相关 举报
国际经济学全套课件312p-(英文版).ppt_第1页
第1页 / 共313页
国际经济学全套课件312p-(英文版).ppt_第2页
第2页 / 共313页
国际经济学全套课件312p-(英文版).ppt_第3页
第3页 / 共313页
国际经济学全套课件312p-(英文版).ppt_第4页
第4页 / 共313页
国际经济学全套课件312p-(英文版).ppt_第5页
第5页 / 共313页
点击查看更多>>
资源描述

1、国际经济学全套课件312p-(英文版)Lecture 1.IntroductionInternational EconomicsConsists of a.International trade b.International finance c.and open economy macroeconomicsa.International TradePattern of Trade Effects of trade on wages and jobsTrade policy,government regulations on tradeNAFTA and World Trade Organiz

2、ationb.International FinanceLarge current account deficits in the U.S.Balance of PaymentsForeign exchange rates The euroFinancial crisesMacroeconomic policy in an open economyOpenness-Some Stylized FactsTable 1.1Openness=100*(Exports/GNP)Smaller countries are more open than larger countries.Develope

3、d countries are more open than developing countries.More open countries tend to be richer and growing faster.Countries become more open over time.(World trade has grown faster than world output.)The U.S.became more open than before but still remains relatively closed.Figure 1.01 World exports and ou

4、tput in real terms,1950-1995Trade Grew Faster than ProductionExplosion of trade(Figure 1.1)The openness index for the whole world rises from 29(1980)to 33(1988)Trade in financial assets has grown enormously(to be discussed later)Why?Reduction of barriers to tradeManmade barriers:transportation/commu

5、nication costsGovernment-imposed:tariffs and quotasThroughTrade liberalizationTrade agreements(NAFTA,EU,GATT,WTO)Trade and GrowthMore open economies tend to grow faster.Trade(exports)promotes economic growth Market for domestic productsProvides advanced foreign skills and technology Competition from

6、 other countriesPro-trade policies of many developing countriesDirection of tradeFigure 1.2 and Table 1.2 Industrial countries account for the bulk of world trade.Developed countries tend to trade more among themselves than with developing countries.Developing countries tend to export more to develo

7、ped countries than to other developing countries.12Lecture 2TOOLS OF ANALYSIS FOR INTERNATIONAL TRADE MODELS(Ch 2)13The model of this course usingproblemhypothesesassumptionEmpirical studyexplanationpredictiontheorymodify14The General Equilibrium Model AssumptionsA1.Rational behaviorA2.2 countries(A

8、merica and Britain)2 goods(Soybeans and Textiles)A 2x2 modelA3.No money illusionEconomic decisions are made on the basis of real variables instead of nominal variables.15Real vs.Nominal VariablesReal variablesRelative price Real wageReal incomeNominal variablesMoney priceMoney wageMoney income16The

9、price line and the budget lineConsider a farmer with 10 units of S.(endowment)If 1 unit of S is exchanged for 2 units of T,how much T can he buy with 10S?Find all the combinations of(S,T)he can consume.Draw them on the(S,T)plane.The resulting line is called the budget line.17The Budget LineIt shows

10、the consumption possibilities.Its slope is the relative price of S(in terms of T)A Steeper BL means more relatively expensive SThe budget line is determined by the endowment and the relative price.NoteThe budget line:budget constraint The price line:relative price18QuestionWhat happens to the budget

11、 line in the following case?An increase in S endowment by 10%A decrease in the relative price of S from 2 to 1.519PPF and the Supply-SideA4.Fixed endowment,constant technology(no growth;PPF is given)The Production Possibility Frontier(PPF)On the line:full employment and efficiencyInside:unemployment

12、 or inefficiencyOutside:infeasible20PPF with:(a)increasing opportunity costs;(b)constant opportunity costs21Opportunity CostThe PPF is downward sloped The slope of the PPF measures the opportunity cost of S in terms of T.(Note:The slope of the PPF is negative.But we usually quote it by absolute valu

13、e.)22Two Cases of OCa.Increasing opportunity costsThe OC of S increases as the production of S increases.PPF is bowed-out or concave to the origin.b.Constant opportunity costsThe opportunity cost remains unchanged on PPF.PPF is a straight line.23Perfect competitionA5.Perfect competition prevails.Per

14、fect competition implies no profit.Producers produce until Price=Marginal cost of production(P=MC)Whats wrong with the case where P=$5.00 and MC=$4.00?24RP and RMCThe relative price(RP)is represented by the slope of the price lineThe relative marginal cost(RMC)is represented by the slope of the PPF.

15、=OCQ:Suppose at the production point,OC RP.What is wrong with this condition?25Production EquilibriumProduction equilibrium occurs at a point where PPF is tangent to the price line.(where RP=RMC)The tangent point determines the amount of production in(S,T).The resulting tangent line provides the bud

16、get line for the economy.Q:How does the production of S and T change as the relative price of S increases?How does the budget line change?26Figure 2.03 Relationship between price line and production point27Factor MobilityA6.Factors of production are mobile between the two industries within each coun

17、try.Wages are equalized in the two industries within each country.(Wages do not have to be equal between countries.)We assume that factors of production are identical within each country.Labor in the S sector is identical to labor in the T sector.28Indifference CurvesThe demand side of the economyAn

18、 indifference is a collection of all combinations of(S,T)which give a consumer the same level of satisfaction.Properties of indifference curvesDownward sloped:the more the better(no satiation)Do not intersect each other:consistencyConvex to the origin:diminishing marginal rate of substitution(MRS)29

19、Figure 2.04 Indifference curves and individual utility maximization30The Law of Diminishing MRSThe Marginal Rate of Substitution(MRS)is measured by the amount of T the consumer is willing to give up for each additional unit of SAs you have more of S,the MRS decreases.31MU and MRSMarginal UtilityOne-

20、good modelDiminishing marginal utilityIncrease consumption of one goodMarginal Rate of SubstitutionTwo-good modelDiminishing marginal rate of substitutionSubstitute S for T while maintaining the same level of utility32Consumer preference is represented by an indifference map of infinitely many indif

21、ference curves.A change in taste leads to a shift of the whole map of indifference curves.(a shift in the demand schedule)A7.Community preferences in consumption can be represented by community indifference curves.33Consumption EquilibriumConsumption equilibrium obtains at a point where an indiffere

22、nce curve is tangent to the budget line.Q:What is wrong with choosing a point on the budget line that does not satisfy the above condition?34SummaryOn the supply side,with the RP given,production equilibrium occurs where OC=RP.The resulting tangent line is the budget line.On the demand side,with the

23、 budget line given,consumption equilibrium occurs when an indifference curve is tangent to the budget line.(MRS=RP)35Equilibrium in Autarky(1)In autarky,there is no trade with other countries.Production=Consumption(2)RP is determined within each economy.Equilibrium in autarky obtains at a point wher

24、e PPF is tangent to a community indifference curve.This determines the equilibrium quantities of production and consumption.The RP is determined by the slope of PPF at the production point.36Equilibrium in Autarky(1)X is autarky equilibrium.(2)At other points,the condition for equilibrium is not met

25、.At U,the OC of S is lower than what consumers are willing to pay to get S(MRS).An excess demand for S.The RP of S has to go up.At Y,the OC is higher than the MRS.An excess supply of S The RP of S has to go down.(3)The country cannot do better at any other points than at X.37Changes in demand and su

26、pplyQ:Discuss how equilibrium quantities and relative price change with a following change.An increase in the demand for soybeanAn increase in the productivity in soybean production38The case of Constant OCThe RP is determined by the slope of the PPF.The demand condition has no effects on the RP.39N

27、ational Supply and DemandChange RP and see how production and consumption of S change.NS of S:an increasing function of the RP of S.ND of S:a(usually)decreasing function of RPTo draw ND for S:Determine the production point at a given RP and find a budget line.Find the equilibrium amount of S consump

28、tion.Put the(S,RP)combinations in a graph.The intersection of NS and ND determines equilibrium RP and production of S in autarky.40Figure 2.08 Derivation of national supply and demand curves41Figure 2.09 Alternative derivation of the autarky price ratio42In the above,Autarky relative price:RP1 RP2.S

29、 is relatively cheaper in country A.Country A has CA(comparative advantage)in S and exports S.Flip the relative price inequality.ThenT is relatively cheaper in country B.Country B has CA in T and exports T.Trade equilibrium obtains where As export of S is exactly the same as Bs import of S.This occu

30、rs at RP3.This is the world relative price and called the terms of trade.(usually is called as TOT)Equilibrium in International TradeCountry ACountry BNDNDNSNSRP1RP3RP243Q:Discuss how TOT and international trade change in each of the following cases.Increase in demand for S in country BProductivity

31、increase in S production in country A.44ExercisesCh.245DefinitionsConsider two economies A and B producing X good and Y good.They are shown on the X-axis and the Y-axis,respectively.The slope of the PPF is called _ of _ in terms of _.The slope of CIC is called _ of _ for _.46RP,OC,MRSQ:Suppose at th

32、e production point,OC RP.Is there room for producers to increase the total value of production?Q:Consumers think that they are paying for X good(in terms of Y)less than they should.Compare their MRS and RP in the current position.Show using a graph how they can improve their utility by adjusting the

33、ir consumption.47Autarky and TradeQ:How do we determine which country has comparative advantage in X?Q:Discuss how TOT and international trade change in each of the following cases.(Assume B has CA in X.)Increase in demand for X in country AIncrease in demand for X in country B48Lecture 3.THE CLASSI

34、CAL MODEL OF INTERNATIONAL TRADE(Ch 3)49Sources of Comparative AdvantageRelative price Pattern of comparative advantage Pattern of tradeThen,what determines RP?Two Models1.The Classical Model(D.Ricardo):Relative labor productivity2.The Heckscher-Ohlin Model:Factor endowment and factor intensity50Ass

35、umptions(Summary)A1.Rational behaviorA2.A 2x2 modelA3.No money illusion(part of A1)A4.Fixed endowment,constant technologyA5.Perfect competitionA6.Factor mobility between the two industries within each countryA7.Community indifference curves exist.51More AssumptionsA8.Factors of productions immobile

36、across countriesA9.No barriers to trade in goodsA10.Balanced trade:the value of exports=the value of imports52A11.Labor is the only factor.(Or,other factors are used in a fixed combination with labor)A12.Constant returns to scale in production Constant opportunity costs.PPF is a straight line.53Unit

37、 Labor RequirementsThe amount of labor in man-hours needed to produce one unit of a good.Example 1ABS312T6 4Country A has absolute advantage in SCountry B has absolute advantage in T.54Trade and Specialization with Absolute AdvantageA specializes in S and B specializes in T.Is such specialization(an

38、d trade)mutually beneficial?How to show it?A reduces T production by 1 to focus on S.B reduces S production by 1 to focus on T.What happens to the total production of the world?A B World S+2-1 +1T-1+3 +2Net gain in the world production of both goods(to be shared by A and B)55Comparative AdvantageExa

39、mple 2ABS312T68A has absolute advantage in both goods.B has no absolute advantage in either.As greatest advantage is in S.Bs least disadvantage is in T.A has CA in S.B has CA in T.56A specializes in S and B specializes in T.A B World S+2-1 +1 T-1+1.5 +0.5World production increases in both goods.57Ex

40、ample 3ABS312T636In this case,B has CA in _.In Example 2,B has CA in _.58Example 4ABS312T624No comparative advantage,No gain from trade,No trade.59Wages and the Relative PricePrices and WagesPrice=unit production cost (why?)The same wage rate prevails in both industries.PWaSAASAPWaTAATAPPaaSTASATA:T

41、he RP=the ratio of ULR.PPaaSTBSBTB60Comparative advantageA has CA in Sif (3/12 6/8 in our Example 2).This is equivalent to (3/6 12/8).Or S is relatively cheaper in A than in B.aaaaSASBTATBaaaaSATASBTBPPPPSTASTB61General Equilibrium in AutarkyExample 2ABS312T68Assume the labor supply=12,000 hours(a y

42、ear).Draw the PPF for A.The slope?The RP of S?S40002000T62Draw the PPF for B assuming that its labor supply=9600.Maximum S=800 Maximum T=1200 The slope=3/2 63Figure 3.01 Production possibility frontiers:(a)country A;(b)country B64Figure 3.02 Pre-trade equilibriums:(a)country A;(b)country B65Internat

43、ional trade equilibriumRP=1/2 in A RP=3/2 in B.A has CA in S and B has CA in T.As trade begins,the demand for S rises in A and falls in B as consumers switch from Bs S to As S.In this process,RP(of S)rises in A and falls in B.The International Terms of Trade is established somewhere between 1/2 and

44、3/2.66Suppose TOT=3/4.A will completely specialize in S.To understand this,compare the cost of T.(i)In direct production,T takes 6 hours per unit.(ii)In indirect production with trade,T takes 4 hours,since in trade 4/3 units of S can buy 1T(4/3)*3=4)Likewise,B will completely specialize in T.67Figur

45、e 3.03 Post-trade equilibriums:(a)country A;(b)country B68International equilibrium is obtained by the interaction of reciprocal demands.Reciprocal DemandAs reciprocal demand means As willingness to import Bs T with its own export of S.(Reciprocal demand is thus a combination of demand for one produ

46、ct and supply of another.)When we focus on one market,how do we know about the other market?Walras Law:In a world with n markets,if n-1 markets clear,the n-th market also clears.69.Suppose A exports 800 S for 600 T.Find the production and consumption points for A.Find the trade triangle for A.Find t

47、he corresponding trade triangle for B.The two trade triangles should be identical.Q:What happens if As trade triangle is larger than Bs?The consumption possibilities frontier under free trade.(For CPF,find the production point in trade and draw a straight line with a slope given by TOT.)Country ACou

48、ntry BSSTT1600800120040002000300070International Equilibrium The NS curves are flat over the range of production.The autarkic RP gives the flat portion of the NS curve in each country.Can read the pattern of comparative advantage.The TOT has to be between the two RPs.Shown by the line connecting two

49、 panels.Move the line of TOT and find the equilibrium level so that As export of S=Bs import of S.Country ACountry BSSRPRP80040003/21/23/471The Gains from TradeCompare the consumption point in autarky and the consumption point in trade.Which yields higher utility?SSTT16008001200400020003000Country A

50、Country B72Figure 3.04 The gains from trade(country A)73Sources of gains from tradea.Exchange gains from trade through buying from cheaper sources and selling at a higher priceb.Production gains from specialization in the right product-the one in which a country has comparative advantageThese are st

展开阅读全文
相关资源
猜你喜欢
相关搜索

当前位置:首页 > 办公、行业 > 各类PPT课件(模板)
版权提示 | 免责声明

1,本文(国际经济学全套课件312p-(英文版).ppt)为本站会员(晟晟文业)主动上传,163文库仅提供信息存储空间,仅对用户上传内容的表现方式做保护处理,对上载内容本身不做任何修改或编辑。
2,用户下载本文档,所消耗的文币(积分)将全额增加到上传者的账号。
3, 若此文所含内容侵犯了您的版权或隐私,请立即通知163文库(发送邮件至3464097650@qq.com或直接QQ联系客服),我们立即给予删除!


侵权处理QQ:3464097650--上传资料QQ:3464097650

【声明】本站为“文档C2C交易模式”,即用户上传的文档直接卖给(下载)用户,本站只是网络空间服务平台,本站所有原创文档下载所得归上传人所有,如您发现上传作品侵犯了您的版权,请立刻联系我们并提供证据,我们将在3个工作日内予以改正。


163文库-Www.163Wenku.Com |网站地图|