《经济学专业英语教程(第三版·下)》Unit-8.ppt

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Unit 8,Text:International Trade,（国际贸易）,1.Key words,2.Reasons,and benefits from international,trade,3.Absolute advantage,4.Comparative,advantage,5,.Terms,of,trade,6.,Trade protection,7,.Questions,1,.,Key word,s,natural resources,comparative,cost,net gain,comparative advantage,absolute,advantage,comparative disadvantage,p,roduction possibility boundary,diminishing,returns,opportunity cost,ratio,terms of trade,terms of trade index,restrictions on,trade,exchange control,regulation,physical,control,balance of payments,deficit,strategically important,industry,dubious,argument,barriers to international,trade,free-trade,zone,2.Reasons and benefits from international trade,2.1 Reasons for international trade,2.2,B,enefits from international trade,2.1 Reasons for international trade,Due to climatic differences some goods would not be available in many parts of the world without trade.,N,atural resources are not evenly distributed throughout the world.,S,kills and technology are also not distributed evenly,and whilst some countries have a high level of technological development others have a much lower level,both will therefore tend to produce goods of a different nature.,B,ecause factors of production and natural resources tend to be immobile,it is more convenient to specialize in the production of those goods in which there is a natural,or acquired advantage,and trade the surplus not required for domestic consumption for those goods which cannot be produced.,2.2 Benefits from international trade,It is far more efficient for each country to use its resources in the production of those goods which are not produced.,Specialization and trade increase world output and enable everybody to enjoy a higher standard of living than would be otherwise available.A wider variety of goods are made available to more people.,The law of comparative costs shows that countries can gain from specialization and trade provided that there is some difference in the relative costs of producing those goods.,3.Absolute advantage,3.1 Assumption,3.2 Before specialization,3.3 After specialization,3.1 Assumption,suppose there are two countries X and Y.Both produce just two goods,beef and cars.,Both countries have an equivalent amount of capital and labor but X has abundant grasslands and suitable climate for beef production whilst Y has less favorable climate and agricultural conditions but a more highly skilled workforce.,There are no unemployed factors in either country.,Both countries are using their resources equally to produce both goods.,3.2 Before specialization,Country,Beef(Units),Cars(Units),X,1000,200,Y,200,1000,Total production before specialization,1200,1200,3.3 After specialization,Country,Beef(Units),Cars(Units),X,2000,0,Y,0,2000,Total production before specialization,2000,2000,4.Comparative advantage,4,.1 Assumption,4.2 Before specialization,4.3 After specialization,4,.1 Assumption,If one country is more efficient in the production of both goods,i.e.has an absolute advantage,then it may still be worthwhile engaging in trade if one country specializes in the production of those goods in which its disadvantage is least;referred to as least comparative disadvantage,and the other country those goods in which the comparative advantage is greatest.,Suppose that country X was more efficient in the production of both beef and cars.,4,.2 Before specialization,Country,Beef(Units),Cars(Units),X,1000,600,Y,900,200,Total production before specialization,1900,800,4,.3 After specialization,Country,Beef(Units),Cars(Units),X,200,1080,Y,1800,0,Total production before specialization,2000,1080,Gain,100,280,5.Terms of trade,5,.1 Definition of terms of trade,5,.2 Terms of trade index,5.1 Definition of terms of trade,The terms of trade refer to the rate at which one nations goods can be exchanged for those of others.,The term of trade are measured by means of a terms of trade index.,5.2 Terms of trade index,Terms of trade index=(index of export prices/index of import prices)100,The base year of the index is 100.,An improvement in the terms of trade is said to be favorable and shows as an increase in the index,indicating that a given volume of exports can be exchanged for a greater volume of imports.,A fall in the index is said to be unfavorable as a given volume of exports can only be exchanged for a smaller volume of imports.,6.Trade protection,6.1 Protectionism,6.2 Forms of restrictions on trade,6.3 Reasons for restrictions on trade,6.4 Costs of protection,6.1 Protectionism,Despite the gains from free international trade,nations have frequently attempted to restrict the amount of trade in order to protect their domestic economies from the effects of foreign competition.The competition may be from lower cost producers due to either,or both,greater efficiency and lower wage costs.Such an attitude is referred to as“protectionism”.,6.2 Forms of restrictions on trade,Tariffs,Quotas,Subsidies,E,xchange control regulation,P,hysical controls,6.3 Reasons for restrictions on trade,Protecting a new or developing industrythe“infant industry case”.,Assisting in the elimination of a balance of payments deficit.,Protecting the domestic economy against unemployment caused by too many imported goods.,Protecting strategically important industries such as iron,steel and shipbuilding.,Protecting the domestic economy from“unfair”competition,in particular“dumping”where excess production is sold abroad at cost in order to cover marginal costs only,and allow profits to be made on the domestic market,or where“cheap”labor is being used.,6.4 Costs of protection,6.4.1 Industries,6.4.2 Consumers,6.4.3 Countries,6.4.1 Industries,In the long run protection from competition results in a loss of efficiency and inventiveness.,W,hen eventually industries have to face international competition again,they will be weak and ill-equipped to do so.,6.4.2 Consumers,Consumers are forced to pay higher prices and have a restricted choice of goods.,6.4.3 Countries,T,rade is possibly the best way of forging links between countries and promoting international co-operation.Attempts to interfere with trade generally result in some form of retaliation which may lead to a disastrous trade war where everybody loses.,7,.Questions,(1)What would give a countrys international trade an absolute advantage?A comparative advantage?How would such advantages influence a decision to sell to foreign markets?,(2)How is the“terms of trade index”calculated?,(3)Why do governments restrict imports?What are the costs of trade protection?,(4)Gather information on the most popular types of Chinese exports and,imports.How does comparative advantage help explain why China either,exports or imports these goods?,