国际经济学复习范围

《国际经济学》复习范围

题型：

一、名词解释（共5小题，每小题3分，共15分）

二、判断题（共15小题，每小题1分，共15分）

三、简答题（共5小题，每小题8分，共40分）

四、论述题（共2题，每题15分，共30分）

范围：

I. Explain the following terms.

1. Interindustry trade

2. Intraindustry trade

3. Intraproduct trade

4. The Balance of Payment

A country’s balance o f payments accounts keep track of both its payments to and its receipts from foreigners.

Every international transaction automatically enters the balance of payments twice: once as a credit (+) and once as a debit (-).

5. Comparative Advantage

A country has a comparative advantage in producing a goods if the opportunity cost of producing that goods in terms of other goods is lower in that country than it is in other countries.

6. Stolper-Samuelson Theorem (effect)

If the relative price of a good increases, holding factor supplies constant, then the nominal and real return (in terms of both goods) to the factor used intensively in the production of that good increases, while the nominal and real return (in terms of both goods) to the other factor decreases.

The reverse is also true.

7. Heckscher-Ohlin Theorem

A country will export that commodity which uses intensively its abundant factor and import that commodity which uses intensively its scarce factor.

8. Factor-Price Equalization Theorem

International trade leads to complete equalization in the relative and absolute returns to homogeneous factors across countries.

It implies that international trade is a substitute for the international mobility of factors.

9. Optimum tariff

The tariff rate that maximizes national welfare

It is always positive but less than the prohibitive rate that would eliminate all imports.

It is zero for a small country because it cannot affect its terms of trade.

10. Exchange Rate Overshooting

11. purchasing power parity (PPP)

The exchange rate between two counties’ currencies equals the ratio of the counties’ price levels.

It compares average prices across countries.

12. Law of one price

Identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.

13. The Fisher Effect

It is a hypothesis in international finance that suggests differences in nominal interest rates reflect expected changes in the spot exchange rate between countries.he hypothesis specifically states that a spot exchange rate is expected to change equally in the opposite direction of the interest rate differential.

14.The J-Curve

If imports and exports adjust gradually to real exchange rate changes, the CA may follow a J-curve pattern after a real currency depreciation, first worsening and then improving.It describes the time lag with which

a real currency depreciation improves the CA.

15. managed floating exchange rates

A system in which governments attempt to moderate exchange rate movements without keeping exchange rates rigidly fixed.

16. sterilized intervention

Central banks sometimes carry out equal foreign and domestic asset transactions in opposite directions to nullify the impact of their foreign exchange operations on the domestic money supply.

17. Capital flight

The reserve loss accompanying a devaluation scare

The associated debit in the balance of payments accounts is a private capital outflow.

18.vehicle currency

A currency that is widely used to denominate international contracts made by parties who do not reside in the country that issues the vehicle