国际经济学（双语） 第1章.ppt

Classical Theories of International Trade Chapter 1 Classical Theories of International Trade 1.1 Mercantilism 1.2 Trade Based on Absolute Advantage: Adam Smith 1.3 Trade Based on Comparative Advantage: David Ricardo 1.4 Comparative Advantage and Opportunity Cost 1.5 Comparative Advantage with More Than Two Commodities and Countries 1.6 Theory of Reciprocal Demand 1.7 Offer Curve and Terms of Trade 1.1 Mercantilism The mercantilists advocated government regulation of trade to promote a favorable trade balance. If a country could achieve a favorable trade balance, it would receive payments from the rest of the world in the form of gold and silver. Such revenues would contribute to an increase in spending and thus a rise in domestic output and employment. Critics Possible only for short term Assuming static world economy Chapter 1 Classical Theories of International Trade 1.1 Mercantilism 1.2 Trade Based on Absolute Advantage: Adam Smith 1.3 Trade Based on Comparative Advantage: David Ricardo 1.4 Comparative Advantage and Opportunity Cost 1.5 Comparative Advantage with More Than Two Commodities and Countries 1.6 Theory of Reciprocal Demand 1.7 Offer Curve and Terms of Trade 1.2 Trade Based on Absolute Advantage: Adam Smith With free trade, countries could concentrate their production on the goods they could produce most cheaply and enjoy all the consequent benefits from the labor division. Cost differences govern the international movement of goods. The concept of cost is founded upon the labor theory of value. 1.2 Trade Based on Absolute Advantage: Adam Smith Two assumptions, within each country: Labor is the only factor of production and is homogeneous (i.e. of one quality). The cost or price of a good depends exclusively upon the amount of labor required to produce it. 1.2 Trade Based on Absolute Advantage: Adam Smith An arithmetic example Chapter 1 Classical Theories of International Trade 1.1 Mercantilism 1.2 Trade Based on Absolute Advantage: Ad