国际经济学英文版Chapter2_Comparative Advantage

国际经济学英文版（作业），包含历史发展、生产可能性时间表、在成本不断增加的条件下进行交易、 不断变化的比较优势等。

Chapter2 Comparative Advantage

• Historical development
  • Mercantilists
    • 1500-1800
    • Encouraging exports
    • Discouraging imports
    • Promoted a favorable trade balance
    • Rise in
      • Domestic output
      • Employment
    • Price-specie －flow doctrine
      • In a short run
      • Be eliminated
  • Absolute advantage
    • The wealth of nations
      • 1776
    • International divstionof labor
    • Cost differences govern movement of goods
    • Labor theory of value
      • A nation, tabor is the only factor of production
    • Cost depends on labor requirements
  • Comparative advantage
    • 1800
      • David Ricardo
    • free trade whether or not have any absolute advantage
    • Comparative(relative) cost differences
    • 两优取其重，两劣取其轻
    • Shortcoming:labor is the only factor input
• Production possibilities schedules
  • Production possibilities frontier
    • MRT marginal rate of transformation
  • Opportunity cost
    • Constant
      • Autarky
        • Absence of trade
      • Specialization
        • Production gains
          • Static gains from specialization
      • Trade triangle BCD
        • Exports- along the horizontal axis
        • Imports- along the vertical axis
    • Increasing
    • Decreasing
  • 子主题
• Trading under constant cost conditions
  • Region of mutually beneficial trade
    • Bounded by the cost ratios of the two countries
  • Equilibrium terms of trade
    • Actual terms of trade
    • The theory of reciprocal demand
      • Best applies when both nations are of equal economic size
    • Unequal economic size
      • Small nation can export as much of the commodity as it desires
      • Larger nation, fewer gains
  • Improvement in a nation's terms of trade
    • Rise export prices
    • Smaller quantity of export goods sold abroad
• Dynamic gains from trade:economic growth
  • Advantage
    • More efficient use of an economy's resoutes
      • Higher output and income
      • More saving and investment
    • Higher productivity
      • Promote economic growth
    • Economics of large-scale production
      • Higher efficiency& lower unit cost
    • Increased competition
• Changing comparative advantage
  • Change over time
    • Productivity increases
    • Producers needs to hone skills
• Trading under increasing cost conditions
  • Increasing opportunity cost
    • Principle of diminishing marginal productivity
  • Comparative product pricesare determine by both supply and demand factors
  • Partial specialization
    • Specializes only partially
  • Differing tastes for products