复旦大学【克鲁格曼《国际经济学》第六版英文课件】CH10
克鲁格曼国际经济学英文版课件ch01
1-10
Patterns of Trade
• Differences in climate and resources can explain why Brazil exports coffee and Australia exports iron ore.
• But why does Japan export automobiles, while the U.S. exports aircraft?
International trade can adversely affect the owners of resources that are used intensively in industries that compete with imports.
Trade may therefore have effects on the distribution of income within a country.
Countries can specialize in production, while consuming many goods and services through trade.
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1. When a buyer and a seller engage in a voluntary transaction, both receive something that they want and both can be made better off.
• Norwegian consumers could buy oranges through international trade that they otherwise would have a difficult time producing.
ch13 Exchange Rates and the Foreign Exchange Market An Asset Approach 克鲁格曼国际经济学第六版英文教
– The owner has the right to buy or sell a specified amount of foreign currency at a specified price at any time up to a specified expiration date.
• If we know the exchange rate between two countries’
currencies, we can compute the price of one country’s exports in terms of the other country’s money.
Slide 13-13
Exchange Rates and International Transactions
▪ Spot Rates and Forward Rates
• Spot exchange rates
– Apply to exchange currencies “on the spot”
– Central banks
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Slide 13-10
Exchange Rates and International Transactions
• Interbank trading
– Foreign currency trading among banks – It accounts for most of the activity in the foreign
Slide 13-6
Exchange Rates and International Transactions
国际经济学克鲁格曼版[]PPT课件
![国际经济学克鲁格曼版[]PPT课件](https://img.taocdn.com/s3/m/90382b676c175f0e7dd1372e.png)
的需求量总和之比。
• 当奶酪的相对价格上升时，各国的消费者将会减少奶 酪的购买量，增加葡萄酒的购买量，因此奶酪的相对 需求就减少了。
可编辑
3-30
Hale Waihona Puke 相对供给和相对需求奶酪的相对价格， PC/PW
a*LC/a*LW aLC/aLW
可编辑
3-9
比较优势和贸易
万支玫瑰 万台计算机
美国
-1000
+10
厄瓜多尔
+1000
-3
总计
0
+7
可编辑
3-10
比较优势和贸易
• 在这个简单的例子中，我们可以看出当每个国 家专注于生产他们有比较优势的产品时，两个 国家就可以生产和消费更多的商品和服务。
可编辑
3-11
单一要素的李嘉图模型
• 玫瑰和计算机的简单案例解释了李嘉图模型的 内涵。
• 若相对需求曲线是RD’，则表示奶酪的相对价格等于 本国奶酪的机会成本。此时，本国不一定需要从事任 何一种产品的专业化生产。外国仍然专业生产葡萄酒。
• 一般来说，是第一种情况居多。各国都只生产自己具 有比较优势的产品。再进行贸易，使得消费扩张。
可编辑
3-33
贸易所得
• 行业间相对劳动生产率不同的国家会在不同的产品生 产中进行专业化分工，而每个国家的贸易所得正是通 过这种专业化分工而获得的。此外，国家可以用贸易 所得来购买所需的商品和服务。
RS 1
RD
L/aLC L*/a*LW
奶酪的相对产量，
QC + Q*C QW + Q*W
国际经济学课件中文版克鲁格曼教材
18
比较优势的概念
表 2-1的例子说明了比较优势的原则:
• 如果每一个国家出口 他具有 比较优势（低机会成本）
的产品 ，那么所有国家都能从以这种原则进行的贸易 中获益。
什么决定 比较优势?
• 回答这个问题将会帮助我们理解国家之间的 不同是如
何决定贸易结构（一个国家出口哪种商品）的。
– 国际贸易也许会损害国内某些人的利益 – 贸易, 技术, 以及高工资和低劳动技能的工人.
• 国际贸易关于什么的学科?
– 贸易结构 (谁卖给谁什么?) – 气候以及资源决定了一些产品的贸易结构 – 在工业和服务业在贸易结构上差异更加微妙. -不同国家劳动生产率是不同的. -一方面是国家资源如资本，劳动，土地的相关供给另一方面是在不同商 品的生产上对于这些劳动要素的运用. -一个大体上随机的组成部分. – 贸易的两种方式: » 产业内贸易 取决于国家之间的不同. » 产业间贸易 取决于市场的规模并且发生在相似国家之间
• 国际市场允 许政府对不同公司实行区别对待的政策，
这是可以分析的.
• 政府也控制货币供应.
在国际经济学的学习期间还会学到其他一些经常发
生的经济问题.
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Slide 1-3
国际经济学是关于什么的学科？
贸易利益
• 很对人对于一国进口其自己可以生产的物品持怀疑的态度. • 当国家卖给其他国家货物和服务时，所有国家都受益. • 贸易与受益分配
27
单一要素世界的贸易
绝对优势
• 如果一个国家在某种商品上生产较外国需要更少的
单位劳动力，那么这个国家就在这种商品的生产上 具有绝对的比较优势.
ch17 Fixed Exchange Rates and Foreign Exchange Intervention 克鲁格曼国际经济学第六版英文教学课件
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Slide 17-19
How the Central Bank oreign Exchange Market Equilibrium Under a
Fixed Exchange Rate
• A number of developing countries have retained some
form of government exchange rate fixing.
▪ How do central banks intervene in the foreign
exchange market?
– With no sterilization, there is a link between the balance of payments and national money supplies that depends on how central banks share the burden of financing payments gaps.
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Slide 17-4
Why Study Fixed Exchange Rates?
▪ Four reasons to study fixed exchange rates:
• Managed floating • Regional currency arrangements • Developing countries and countries in transition • Lessons of the past for the future
克鲁格曼国际经济学英文版课件ch09
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the World Trade Organization
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9-2
The Cases for Free Trade
• The first case for free trade is the argument that producers and consumers allocate resources most efficiently when governments do not distort market prices through trade policy.
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9-13
Counter-Argument
• For some countries like the U.S. an import tariff or and export tax could improve national welfare at the expense of other countries.
Байду номын сангаас
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复旦大学【克鲁格曼《国际经济学》第六版英文课件】CH12
– It is the sum of domestic and foreign expenditure on the goods and services produced by domestic factors of production:
Y = C + I + G + EX – IM
(12-1)
4
The National Income Accounts
Gross national product (GNP)
– The value of all final goods and services produced by a country’s factors of production and sold on the market in a given time period
The price of milk is 0.5 bushel of wheat per gallon, and at this price Agrarians want to consume 40 gallons of milk.
13
National Income Accounting for an Open Economy
– Adjustments to the definition of GNP:
»Depreciation of capital
It reduces the income of capsubtracted from GNP (to get the net national product).
»CA balance is goods production less domestic demand. »CA balance is the excess supply of domestic financing.
国际经济学 克鲁格曼版
世界贸易概览
Slides prepared by Thomas Bishop
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本章探讨的两个问题
• 谁和谁贸易的问题（引力模型不仅能解释两国 间贸易量的大小，而且能说明当今制约国际贸 易发展的障碍因素）
2-20
世界变小了吗？
• 两个经济全球化浪潮
1840—1914 经济依赖于蒸汽机、铁路、电 报机、电话 。经济全球化因为战争和经济大 萧条被阻止和取消。 1945至今: 经济依赖于电话、飞机、计算机、 因特网、光学纤维、掌上电脑、GPS卫星定 位等等。
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轮船、帆船、指南针、铁路、电报、蒸汽机、动力 机、汽车、电话、飞机、计算机、机械装置、因特 网、光纤化学、个人数码助理,、GPS卫星定位等等 现代化技术增加了国际贸易量。
• 但是历史表明政治因素，例如战争，对贸易形 式的影响要比交通和通讯的改革更为强烈。
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2-15
距离、壁垒和疆界
• 1994年美国和加拿大、墨西哥签署了贸 易协定，即《北美自由贸易协定》。
• 由于加拿大和墨西哥不仅是美国的邻居， 而且与它签署了贸易协定，因此美国的 邻国与美国个贸易量远胜过美国的欧洲 贸易伙伴与美国的贸易量。
ch16 Output and the Exchange Rate in the Short Run 克鲁格曼国际经济学第六版英文教学课件
The Equation of Aggregate Demand
▪ The Real Exchange Rate and Aggregate Demand
• An increase in q raises CA and D.
– It makes domestic goods and services cheaper relative to foreign goods and services.
Empirical Estimates of Trade Elasticities
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Slide 16-4
Introduction
▪ Macroeconomic changes that affect exchange rates,
– A real appreciation lowers aggregate demand for home output.
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Slide 16-14
The Equation of Aggregate Demand
▪ Real Income and Aggregate Demand
dominant.
▪ We assume that the volume effect of a real exchange
rate change always outweighs the value effect.
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Slide 16-10
interest rates, and price levels may also affect output.
(克鲁格曼)英文课件国际经济学CH06
– Marginal Cost (MC) is the amount it costs the firm to produce one extra unit.
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Slide 6-12
5.The Theory of Imperfect Competition
▪ Monopoly: A Brief Review
• Marginal revenue
– The extra revenue the firm gains from selling an additional unit
– Its curve, MR, always lies below the demand curve, D.
• Increasing the amount of all inputs used in the
production of any commodity will increase output of that commodity in the same proportion.
▪ In practice, many industries are characterized by
Table 6-1: Relationship of Input to Output for a Hypothetical Industry
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Slide 6-6
3.Economies of Scale and Market Structure
Slide 6-3
2.Economies of Scale and
保罗克鲁格曼国际经济学英文课件1-7章
保罗克鲁格曼国际经济学英⽂课件1-7章Preface§1. Some distinctive features of International Economics: Theory and Policy.This book emphasizes several of the newer topics that previous authors failed to treat in a systematic way:·Asset market approach to exchange rate determination.·Increasing returns and market structure.·Politics and theory of trade policy.·International macroeconomic policy coordination·The word capital market and developing countries.·International factor movements.§2. Learning features:·Case studies·Special boxes·Captioned diagrams·Summary and key terms·Problems·Further reading§3.Reference books:·[美]保罗?克鲁格曼，茅瑞斯?奥伯斯法尔德，《国际经济学》，第6版，中译本，中国⼈民⼤学出版社，2007.·李坤望主编，《国际经济学》，第⼆版，⾼等教育出版社，2005.·Dominick Salvatore, International Economics, Prentice Hall International，第9版，清华⼤学出版社，英⽂版，2008. Chapter 1Introduction·Nations are more closely linked through trade in goods and services, through flows of money, and through investment than ever before.§1. What is international economics about?Seven themes recur throughout the study of international economics:·The gains from trade(National welfare and income distribution)·The pattern of trade·Protectionism·The balance of payments·Exchange rate determination·International capital market§2. International economics: trade and money·Part I (chapters 2 through 7) :international trade theory·Part II (chapters 8 through 11) : international trade policy ·Part III (chapters 12 through 17) : international monetary theory ·Part IV (chapters 18 through 22) : international monetary policyChapter 2 World Trade: An Overview§1 Who Trades with Whom?1. Size Matters: The Gravity ModelThe size of an economy is directly related to the volume of imports and exports.Larger economies produce more goods and services, so they have more to sell in the export market. Larger economies generate more income from the goods and services sold, so people are able to buy more imports.3 of the top 10 trading partners with the US in 2003 were also the 3 largest European economies: Germany, UK and France. These countries have the largest gross domestic product (GDP) in Europe.Cultural affinity: if two countries have cultural ties, it is likely that they also have strong economic ties.Geography: ocean harbors and a lack of mountain barriers make transportation and tradeeasier.2. Distance Matters: The Gravity ModelDistance between markets influences transportation costs and therefore the cost of imports and exports. Distance may also influence personal contact and communication, which may influence trade.Estimates of the effect of distance from the gravity model predict that a 1% increase in the distance between countries isassociated with a decrease in the volume of trade of 0.7% to 1%.Borders: crossing borders involves formalities that take time and perhaps monetary costs like tariffs. These implicit and explicit costs reduce trade. The existence of borders may also indicate the existence of different languages or different currencies, either of which may impede trade more.3.The gravity modelThe gravity model is:a b c ij i j ijT A Y Y D =?? where a, b, and c are allowed to differ from 1.§2. The Changing Composition of Trade1. Has the World Become “Smaller ”?There were two waves of globalization.1840–1914: economies relied on steam power, railroads, telegraph, telephones. Globalization was interrupted and reversed by wars and depression.1945–present: economies rely on telephones, airplanes, computers, internet, fiber optics,…2. Changing Composition of TradeToday, most of the volume of trade is in manufactured products such as automobiles, computers, clothing and machinery. Services such as shipping, insurance, legal fees and spending by tourists account for 20% of the volume of trade.Mineral products (e.g., petroleum, coal, copper) and agricultural products are a relatively small part of trade.Multinational Corporations and OutsourcingBefore 1945, multinational corporations played a small role world trade.But today about one third of all US exports and 42% of all US imports are sales from one division of a multinational corporation to another.Chapter 3Labor Productivity and Comparative Advantage:The Ricardian Model*Countries engage in international trade for two basic reasons:·Comparative advantage: countries are different in technology (chapter 3) or resource (chapter 4).·Economics of scale (chapter 6).*All motives are at work in the real world but only one motive is present in each trade model.§1. The concept of comparative advantage1. Opportunity cost : The opportunity cost of roses in terms of computers is the number of computers that could have been produced with the resources used to produce a given number of roses.Table 3-1 Hypothetical Changes in Production Million Roses Thousand Computers United States－10 ＋100 South America＋10 －30 Total 0 ＋702. Comparative advantage : A country has a comparative advantage in producing a good if the opportunity cost of producing that good in terms of other goods is lower in that country than it is in other countries.·Denoted by opportunity cost.·A relative concept : relative labor productivity or relative abundance.3. The pattern of trade: Trade between two countries can benefit both countries if each country exports the goods in which it has a comparative advantage.§2. A one-factor economy1.production possibilities: LC C LW W a Q a Q L +≤Figure 3-1 Home’s Production Possibility Frontier2. Relative price and supply·Labor will move to the sector which pays higher wage.·If C W LC LW P P a a >(C LC W LW P a P a >, wage in the cheese sector is higher ), the economy will specialize in the production of cheese.·In a closed economy, C W LC LW P P a a =.·If each country has absolute advantage in one good respectively, will there exist comparative advantage?§3. Trade in a one-factor world·Model : 2×1×2·Assume: **LC LW LC LW a a a a <Home has a comparative advantage in cheese.Home ’s relative productivity in cheese is higher.Home ’s pretrade relative price of cheese is lower than foreign.·The condition under which home has the comparative advantage involves all four unit labor requirement, not just two.1. Determining the relative price after trade·Relative price is more important than absolute price, when people make decisions on production and consumption.·General equilibrium analysis: RS equals RD . (World general equilibrium)·RS : a “step ” with flat sections linked by a vertical section. **(/)(/)LC LW L a L aFigure 3-3 World Relative Supply and Demand·RD : subsititution effects·Relative price after trade: between the two countries ’ pretrade price.(How will the size of the trading countries affect the relative price after trade? Which country ’s living condition improves more? Is it possible that a country produce both goods?)2. The gains from tradeThe mutual gain can be demonstrated in two alternative ways.·To think of trade as an indirect method of production :(1/)()1/LC C W LW a P P a > or C W LC LW P P a a >·To examine how trade affects each country ’s possibilities of consumption.Figure 3-4 Trade Expands Consumption Possibilities(How will the terms of trade change in the long-term? Are there income distribution effects within countries? )3. A numerical example:·Two crucial points :When two countries specialize in producing the goods in which they have a comparative advantage, both countries gain from trade.Comparative advantage must not be confused with absolute advantage; it is comparative, not absolute, advantage that determines who will and should produce a good.Table 3-2 Unit Labor Requirements Cheese WineHome 1LC a = hour per pound 2LW a = hours per gallonForeign*6LC a = hours per pound *3LW a = hours per gallon absolute advantage; relative price; specialization; the gains from trade.4. Relative wages·It is precisely because the relative wage is between the relative productivities that each country ends up with a cost advantage in one good.***LC LC LW LW a a w w a a >> **LC LC wa w a <；**LW LW wa w a >·Relative wages depend on relative productivity and relative demand on goods.Special box: Do wages reflect productivity?。
(克鲁格曼)英文课件国际经济学CH07
– Trade offers an alternative to factor mobility: Home can export labor and import land by exporting the labor-intensive good and importing the land-intensive good.
– Some countries will be biased toward present output. – Some countries will be biased toward future output.
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Slide 7-11
two countries.
– Home workers would like to move to Foreign until the marginal product of labor is the same in the two countries.
– This movement will reduce the Home labor force and thus raise the real wage in Home.
▪ A One-Good Model Without Factor Mobility
– There are two countries (Home and Foreign).
– There are two factors of production: Land (T) and Labor (L).
国际经济学英文课件chapter10
▪Triangular arbitrage
▪In New York : $1= €0.98
▪In Frankfurt : €1=￡0.6 ▪In London : ￡0.6= $1
Arbitrage equalizes exchange rates and ensures consistent cross rates in all monetary centers, unifying them into a single market.
Currency Swaps
Definition
A currency swap refers to a spot sale of a currency combined with a forward repurchase of the same currency —— as part of a single transaction.
The loss of official reserves only indicates the degree of official intervention in foreign exchange markets to influence the level and movement of exchange rates, and not the balance-of-payments deficit.
the Balance of Payments
Chapter 10
8
10.2.1 Equilibrium Foreign Exchange Rates
Definition
See Table 14.2 (P463)
The exchange rate(R) is defined as the domestic currency price of the foreign currency.
ch18 The International Monetary System, 1870-1973 克鲁格曼国际经济学第六版英文教学课件
Copyright © 2003 Pearson Education, Inc.
Slide 18-8
Macroeconomic Policy Goals in an Open Economy
• Problems with Excessive Current Account
Surpluses:
– They imply lower investment in domestic plant and equipment.
• The U.S. Gold Standard Act of 1900 institutionalized
the dollar-gold link.
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Slide 18-11
International Macroeconomic Policy Under the Gold Standard, 1870-1914
Chapter 18 The International Monetary System, 1870-1973
Prepared by Iordanis Petsas To Accompany
International Economics: Theory and Policy, Sixth Edition by Paul R. Krugman and Maurice Obstfeld
Copyright © 2003 Pearson Education, Inc.
Slide 18-13
International Macroeconomic Policy Under the Gold Standard, 1870-1914
克鲁格曼国际经济学PPTch11
For instance, R&D (as opposed to manufacturing) should be subsidized.
How Important Are Externalities?
– Externalities are hard to measure empirically. – Problems of appropriability at the level of the nation (as opposed to the firm) are less severe but still important even for a nation as large as the United States.
growing international trade on workers in developing countries.
Copyright 2003 Pearson Education, Inc. Slide 11-3
Sophisticated Arguments for Activist Trade Policy
concentrated oligopolistic industries
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Slide 11-4
Sophisticated Arguments for Activist Trade Policy
Technology and Externalihese goods are paid low
wages and work under poor conditions.
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国际经济学英文版(internationaleconomics)PPT课件
▪ Growth of emerging markets ▪ international capital movements regain importance
6
Economic interdependence
Exports of goods and services as percent of Gross Domestic Product, 2001
Ch 16 Exchange-Rate Systems
Ch 17 Macroeconomic Policy in an Open Economy
Ch18 International Banking: Reserves, Debt and Risk
International Economics
By Robert J. Carbaugh 9th Edition
8
Economic interdependence
Interdependence: Impact
Overall standard of living is higher
▪ Access to raw materials & energy not availo goods & components made less expensively elsewhere
International Economics
By Robert J. Carbaugh 9th Edition
Ch 1 The International Economy Ch 2 Foundations of Modern
Trade Theory
Ch 3 International Equilibrium
克鲁格曼国际经济学第六版的教师手册含英文习题答案CH.ppt
»The difference between exports of goods and services and imports of goods and services (CA = EX – IM)
»A country has a CA surplus when its CA > 0. »A country has a CA deficit when its CA < 0. »CA measures the size and direction of international
borrowing.
A country’s current account balance equals the change in its net foreign wealth.
15
National Income Accounting for an Open Economy
– CA balance is equal to the difference between national income and domestic residents’ spending: Y – (C+ I + G) = CA
12
National Income Accounting for an Open Economy
An Imaginary Open Eቤተ መጻሕፍቲ ባይዱonomy
– Assumptions of the model:
»There is an economy, Agraria, that can only produce wheat.
– The part of output used by private firms to produce future output
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• Protecting manufacturing does no good unless the
protection itself helps make industry competitive.
– Example: Pakistan and India have protected their heavy manufacturing sectors for decades and have recently begun to develop significant exports of light manufactures like textiles.
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Slide 10-12
Import-Substituting Industrialization
• Why didn’t import-substituting industrialization work
the way it was supposed to?
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Slide 10-8
Import-Substituting Industrialization
▪ Promoting Manufacturing Through Protection
• Import-substituting industrialization
economic development?
– Many economists are now harshly critical of the results of import substitution, arguing that it has fostered highcost, inefficient production.
Slide 10-3
Introduction
Table 10-1: Gross Domestic Product Per Capita, 1999 (dollars)
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Slide 10-4
Import-Substituting Industrialization
Slide 10-11
Import-Substituting Industrialization
▪ Results of Favoring Manufacturing: Problems of
Import-SubstituMany countries that have pursued import substitution
• It implies that it is a good idea to use tariffs or import
quotas as temporary measures to get industrialization started.
– Example: The U.S. and Germany had high tariff rates on manufacturing in the 19th century, while Japan had extensive import controls until the 1970s.
– The best way to create a strong manufacturing sector was by protecting domestic manufacturers from international competition.
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▪ Why are some countries so much poorer than others?
• For about 30 years after World War II trade policies in
many developing countries were strongly influenced by the belief that the key to economic development was creation of a strong manufacturing sector.
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Slide 10-10
Import-Substituting Industrialization
Table 10-2: Exports as a Percentage of National Income, 1999
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infant industry protection may be a good idea:
– Imperfect capital markets justification
– If a developing country does not have a set of financial institutions that would allow savings from traditional sectors (such as agriculture) to be used to finance investment in new sectors (such as manufacturing), then growth of new industries will be restricted.
Copyright © 2003 Pearson Education, Inc.
Slide 10-9
Import-Substituting Industrialization
• Why not encourage both import substitution and
exports?
– A tariff that reduces imports also necessarily reduces exports.
– The infant industry argument was not as universally valid as many people assumed.
Copyright © 2003 Pearson Education, Inc.
Slide 10-6
Import-Substituting Industrialization
▪ Problems with the Infant Industry Argument
• It is not always good to try to move today into the
▪ The most important economic argument for
protecting manufacturing industries is the infant industry argument.
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industries that will have a comparative advantage in the future.
– Example: In the 1980s South Korea became an exporter of automobiles, whereas in the 1960s its capital and skilled labor were still very scarce.
– The strategy of encouraging domestic industry by limiting imports of manufactured goods
– Many less-developed countries have pursued this strategy.
• Has import-substituting industrialization promoted
Miracle
▪ Summary
Copyright © 2003 Pearson Education, Inc.
Slide 10-2
Introduction
▪ There is a great diversity among the developing
countries in terms of their income per capita.
Slide 10-5
Import-Substituting Industrialization
▪ The Infant Industry Argument
• It states that developing countries have a potential
comparative advantage in manufacturing and they can realize that potential through an initial period of protection.
Chapter 10
▪ Trade Policy in Developing Countries
Chapter Organization
▪ Introduction ▪ Import-Substituting Industrialization ▪ Problems of the Dual Economy ▪ Export-Oriented Industrialization: The East Asian
have not shown any signs of catching up with the advanced countries.