国际经济学第二章 双语 国际贸易部分.ppt

Carbaugh, Chap. 2 Copyright ?2004, South-Western College Publishing International EconomicsBy Robert J. Carbaugh9th Edition Chapter 2: Foundations of Modern Trade Theory Key concepts and terms Autarky Basis for trade Complete specialization Constant opportunity costs Consumption gains Exit barriers Free trade Gains from international trade Carbaugh, Chap. 2 * Increasing opportunity costs Labor theory of value Marginal rate of transformation Mercantilists Partial specialization Price-specie-flow doctrine Principle of absolute advantage Principle of comparative advantage Carbaugh, Chap. 2 * Production gains Production possibilities schedule Terms of trade Trade triangle Trading possibilities line Carbaugh, Chap. 2 * Modern trade theory seeks to answer the following questions: What constitutes the basis for trade? At what terms of trade are products exchanged in the world market? What are the gains from international trade in terms of production and comsuption? Carbaugh, Chap. 2 * Content Historical development of modern trade theory Production possibilities schedules Trading under constant cost conditions Productivity and comparative advantage Trade restrictions Trade under increasing-cost conditions Comparative advantage extended to many products and countries Carbaugh, Chap. 2 * Carbaugh, Chap. 2 * Historical development of trade theory Mercantilism Regulation of trade to ensure a positive trade balance Critics: possible only for short term; assumes static world economy Absolute advantage (Adam Smith) Countries benefit from exporting what they make cheaper than anyone else But: nations without absolute advantage do not gain from trade Comparative advantage (David Ricardo) Nations can gain from specialization, even if they lack an absolute advantage Foundations of trade theory Carbaugh, Chap. 2 * Absolute Comparative Advantage Comparative advantage Absolute advantage: each nation is more efficient in producing one good Output per labor hour Nation Wine Cloth