国际经济学103

《国际经济学103》由会员分享，可在线阅读，更多相关《国际经济学103（33页珍藏版）》请在装配图网上搜索。

1、Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 2011Chapter 3Labor Productivity and Comparative Advantage: The Ricardian ModelCopyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-2Learning Goals After re

2、ading this chapter, you will be able to: Explain how the Ricardian model, the most basic model of international trade, works and how it illustrates the principle of comparative advantage. Demonstrate gains from trade and refute common fallacies about international trade. Describe the empirical evide

3、nce that wages reflect productivity and that trade patterns reflect relative productivityhttp:/ 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-3Chapter 33.1 Introduction: The Concept of Comparative Advantage 3.2 One-Factor Economy (with PPF) 3.3 Trade in

4、A One-Factor World 3.3.1 Determining the Relative Price After Trade3.3.2 Gains from trade (video)3.3.3 A Numerical Example3.3.4 Relative Wages3.4 Misconceptions About Comparative Advantage 3.5 Comparative Advantage with Many Goods 3.6 Adding Transport Costs and Non-traded Goods 3.7 Empirical evidenc

5、e Summary: the evolution of free trade comparative advantage Q-A IISuppose that Country A has 100 units of labor services and Country B has 200 units of labor services and that both countries produce computers and Web pages. The unit labor requirements are shown in the table: Numerical Case and Quiz

6、ComputersWeb pagesCountry A501Country B10011.If both countries specialize completely in producing the good in which they have a comparative advantage, then the supply of computers relative to Web pages will be:a) 0.005 (or 1/200) b) 0.01 (or 1/100) c) 0.013 (or 1/75) d) 0.02 (or 1/50) e) It is impos

7、sible to determine without knowing the relative price of computers in terms of Web pages. Case & Quiz2.At which of the following relative prices of computers in terms of Web sites will Country B produce both goods under free trade?a) 0.01 b) 25 c) 50 d) 100 e) It is impossible to tell without the in

8、formation on labor endowments in each country. Case & QuizCopyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-7Early arguments for free trade & Ad Mercantilism (16th and 17th centuries) promoted the idea of encouraging exports and discouraging import

9、s (“zero-sum game”) David Humes (1758) “Of the Balance of Trade” James Steuarts (1767) “An Inquiry into the Principle of Political Economy”Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-8Adam Smiths (1776) argument for free trade & Ad First, he

10、emphasizes the opportunity costs in regulations in general (IV. ii. 3) Second, he applies the opportunity cost principle to individuals in a society (IV. ii. 11) “specialization” Third, he applies the same opportunity cost principle to international commerce policy (IV. ii. 11) “absolute advantage”

11、& “free trade” Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-9David Ricardos (1817) argument for free tradeComparative AdvantageWine/Web/Wheat/WoodCloth/computer/cheese/chemical/cerealPortugalEngland3.The Ricardian modela)predicts that trade wi

12、ll occur even if countries are identical. b)accounts for only one factor of production. c)accounts for only one industry in each country. d)predicts that differences in endowments of factors of production lead to trade. e)predicts that countries with cultural ties trade more.Quiz4.Which of the follo

13、wing is NOT an assumption in the Ricardian model?a)Markets are competitive. b)The amount of each factor of production is fixed. c)Each country uses only one factor of production. d)Labor can freely move across countries. e)Labor productivity in each country is fixed.Quiz5.If Country A has a comparat

14、ive advantage in producing shoes, thena)it can produce shoes using fewer resources than other countries can. b)it can produce shoes at a lower relative cost than other countries can. c)it has more factors of production used in the production of shoes relative to other countries. d)the productivity o

15、f workers in the shoe industry in Country A is higher than in other countries. e)other countries will never produce shoes if trade is allowed. QuizCopyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-14Comparative Advantage: Neo-classical Economics In

16、 the 20th century, Eli Heckscher and Bertil Ohlin refined Ricardos work ELi Filp Heckscher, famous Swedish economist, wrote on Mercantilism, Swedish History, and International EconomicsCopyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-15Nobel Laure

17、ates 1977Bertil Ohlin (1899-1979, wrote between 1921-1949) & James Meade “For their pathbreaking contribution to the theory of international trade and international capital movements.”Field: International economicsContribution: Founder of the modern theory of international trade.Field: International

18、 economicsContribution: Demonstrated the effects of economic policy on foreign trade theory.Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-16Paul Samuelson (19152009)Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business Scho

19、ol, GXU, Autumn, 20113-17Nobel Laureate 1970Paul Samuelson (19152009)“For the scientific work through which he has developed static and dynamic economic theory and actively contributed to raising the level of analysis in economic science.”Field: Partial and general equilibrium theoryContribution: Co

20、ntributed to raising the general analytical and methodological level in economic science.Copyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-18Nobel Laureate 1973Wassily Leontief“For the development of the input-output method and for its application

21、to important economic problems” Field: Input-output analysisContribution: Creator of the input-output technique, a method that provides tools for a systematic analysis of the complicated inter-industry transactions in an economy.Wassily Leontief (1953), “The Leontief Paradox ”Copyright 2012 Pearson

22、Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-19Bla Balassa (1961) Stages of Economic Integration Free Trade Area (FTA) Customs Union Common Market Economic Union Complete Economic UnionMeasuring trade advantages: the Balassa indexTo determine a countrys strong expor

23、t sectors, most often used: Balassa index or Revealed Comparative Advantage (RCA)exportsexportscountryreferenceinjindustryofshareAcountryinjindustryofshareBIAjHighest Balassa index, selected countriesHighest Balassa index, selected countriesCopyright 2012 Pearson Addison-Wesley. All rights reserved.

24、 Luke, Business School, GXU, Autumn, 20113-23Nobel Laureates 2008Paul Krugman“for his analysis of trade patterns and location of economic activity”Krugman is one of the leading designers and proponents of the modern theory of trade, or “new trade theory”.Copyright 2012 Pearson Addison-Wesley. All ri

25、ghts reserved. Luke, Business School, GXU, Autumn, 20113-24R Model: CA. Interdependence and free tradeEvery day you rely on many people from around the world, most of whom youve never met, to provide you with the goods and services you enjoy.coffee from Kenyadress shirt from Chinacell phone from Tai

26、wanhair gel from Cleveland, OHCopyright 2012 Pearson Addison-Wesley. All rights reserved. Luke, Business School, GXU, Autumn, 20113-25Gains from trade6.The Ricardian model predicts that gains from trade occura)only if a country has an absolute advantage in production. b)only if both countries have a

27、n absolute advantage in the industry in which they specialize. c)only if countries specialize completely. d)only if countries do not specialize completely. e)for both countries that trade with each other.Quiz7.Suppose that Country A has 5000 units of labor services and that it takes 50 units of labo

28、r services to produce one computer and 1 unit to create a Web page. What is the opportunity cost of producing a Web page? a)0.02 computers not produced b)0.0002 computers not produced c)50 computers not produced d)100 computers not produced e)10 computers not produced QuizQuiz8.Suppose that the oppo

29、rtunity cost of producing computers in Country A is 50 Web pages not produced and in Country B is 10 Web pages not produced. Under these conditions, the Ricardian model predicts that a)trade will not occur. b)Country A will export computers and import Web pages. c)Country A will export Web pages and

30、 import computers. d)the pattern of trade is uncertain until wages are determined. e)Country A has the comparative advantage in producing computers. Empirical study:KenyaEU exports and productivity, various sectors -50050100050100150200Relative productivity ratio (Kenya/EU); %Kenya export (%) - impo

31、rt (%)foodchemicalsmachineryRelative Labor Productivities and Comparative Advantage United States and United KingdomEmpirical Tests of the Ricardian Model Relative Labor Productivities and Comparative Advantage Japan and Korea Empirical Tests of the Ricardian Model Quiz 9.According to the Ricardian

32、model, the relative prices of goods when countries trade is determined bya) relative demand and relative supply in world markets. b) relative wages. c) relative exports and imports d) relative opportunity costs in the two countries. e) relative demand and relative supply in each trading country. Qui

33、z 10. Which of the following is true? a) Trade has generally made poor countries even poorer. b) Trade has generally helped poor countries but hurt rich countries. c) Countries that have increased trade have seen their wages fall over time relative to U.S. wages. d) Trade has generally made rich countries less rich. e) Countries that have increased trade have seen their wages rise over time relative to U.S. wages.