國際經(jīng)濟學第一章

1、Zheng Yingmei (School of Economics, Shandong University) slide 11.2 Importance of International Economics 1.3 The Subject Matter of International Economics 1.4 Current International Economic Problems1.5 World Trade: An overview1.1 Objectives, Textbook and Topicsslide 2To cover fundamental principles

2、 in international economics. Not to memorise theoretical models but to understand their intuition and application.To learn Economics in English. Dont worry! slide 3REQUIRED TEXTBOOK Salvatore, Dominick. International Economics, Eighth edition. Wiley.OTHER USEFUL TEXTBOOKS: Paul Krugman: Internationa

3、l Economics: Theory and Policy，8th Edition, Addison Wesley，2008;Thomas A. Pugel: International Economics, 12th Edition, Irwin Professional Pub, 2004.slide 4 The law of comparative advantage. Chapter 2 The standard theory of international trade. Chapter 3Demand and supply, offer curve, and the terms

4、of trade. Chapter 4 Factor endowments and the Heckscher-Ohlin theory. Chapter 5 Economies of scale, imperfect competition, and international trade. Chapter 6.Economic growth and international trade Chapter 7 Trade restrictions: tariffs. Chapter 8 Non-tariff trade barriers and the New Protectionism.

5、Chapter 9. Economic integration: customs unions and free trade areas. Chapter 10.International trade and economic development. Chapter 11. International resource movements. Chapter 12.slide 5Class presentation + Quiz 30%Final exam 70% Total 100%slide 6The economic interdependence among nations has b

6、een increasing, i.e., globalisation. This has meant that economic shocks (positive and negative) now have a greater impact in other countries. Some knowledge of international economics is necessary to understand what goes on in the world of today and to be informed consumers, citizens, and voters.On

7、 a more practical level, the study of international economics is required for numerous jobs in international banking, various government agencies, and international organizations. - Case Study 1-1 The Dell PC is All but American - Case Study 1-2 What is an “American” Car? slide 7slide 8slide 9Intern

8、ational economics deals with the economic interdependence among nations. International trade (microeconomic aspects-why ) - Trade theories (gains from international trade, trade models and trade patterns) - Trade policy (Trade restrictions and their effects)International finance (macroeconomic aspec

9、ts-why ) - Balance of payments - Foreign exchange determination - International capital markets - open-economy macroeconomicsslide 10International trade is crucial to the well-being of nations -Obvious gains-Comparative advantages -welfare gains-Economies of scale(International migration, capital mo

10、vement, international lending and borrowing, all enhance national welfare.)-However, although a nation as a whole will benefit from international trade, it is also possible for some interest groups to suffer from trade (e.g. Owners of the less abundant resources).slide 11Gravity Model-Market size an

11、d distance between markets determine how much countries buy and sell.The Ricardian Model -International trade is solely due to international differences in the productivity of labor nThe Heckscher-Ohlin ModelCA is influenced by the interaction btn nations resources (the relative abundance of factors

12、 of production) and the technology of production (which influences the relative intensity with which different factors of production are used in the production of different goods) -these are variations on the Ricardian theory, seeking a fuller explanation of why countries happen to have the comparat

13、ive advantage they do; and why it changes over time. )The Standard trade modelEconomies of scale, imperfect competition (seeks to explain the rapid growth of “intra-industry trade” in terms of a model with increasing returns and monopolistic competition. slide 12Tariffs (關稅)Export subsidies（出口補貼）Imp

14、ort quota（進口配額）Voluntary export restraints (自愿出口限制）Others (Local content, credit, procurement, red-tape)-The cost and benefit analysis of tariffsslide 13Trade Protectionism in Industrial Countries（buy American）Excessive Fluctuations and Large Disequilibria in Exchange RatesFinancial Crises in Emergi

15、ng Market EconomiesHigh Structural Unemployment and Slow Growth in Europe and Stagnation in Japanslide 14Restructuring Problems of Transition EconomiesDeep poverty in Many Developing CountriesSustainable development and environmentRegionalism and Faltering Multilateralismslide 15Growth of World Prod

16、uction and Trade, 1990-2001 (annual percentage changes)slide 16Some countries are more interdependent than othersslide 17Imports and Exports as a Percentage of GDP in Various Countries in 2001slide 18And some regions have become more interdependent than others over timeslide 19slide 20The changing c

17、omposition of developing-country exportsA more recent transformation has been the rise of third world manufactures exports. As recently as the 1970s, the third world mainly exported primary products. Since then they have moved rapidly into exports of manufactured goods. More than 90 percent of the e

18、xports of China consists of manufactured goods.slide 21 slide 22slide 23slide 24International economics-economic interdependence btn nations1.Factor movements-migrants; capital 2.Flows of goods and services due to immobile factors and restrictions on factor movements. Trade in essence is a form of factor exchanges.International trade studies the behavior of individual nations