国际经济学 英文版 第一章
克鲁格曼国际经济学课件英文官方第10版1第一章
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Gains from Trade (cont.)
3. Trade benefits countries by allowing them to export goods made with relatively abundant resources and import goods made with relatively scarce resources. 4. When countries specialize, they may be more efficient due to larger-scale production. 5. Countries may also gain by trading current resources for future resources (international borrowing and lending) and due to international migration.
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Gains from Trade (cont.)
2. How could a country that is the moБайду номын сангаасt (least)
efficient producer of everything gain from trade?
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Countries use finite resources to produce what they are most productive at (compared to their other production choices), then trade those products for goods and services that they want to consume. Countries can specialize in production, while consuming many goods and services through trade.
国际金融英文版(全)
Foreign bonds-foreign bonds are issued in local market by a foreign borrower,with the assistance of a large investment bankers,and are denominated in a local currency. Eurobonds-eurobonds are financed by long-term funds in the Eurocurrency markets.They are underwritten by a multinational syndicate of banks and placed in countries other than the one in whose currency they are denominated.
the balance of payment
3.the theories of foreign exchange rate determination 4.foreign exchange exposure
4.nonexchange traded derivatives
Inventory of international financial resources Yu feng yao
Eurocurrency markets
International Debt Markets-long-term
Short-and Medium-term Debt Markets International Equities
Eurocurrency markets 1.The Eurocurrency market has been referred to as a stateless vat of money,essentially owing to no allegiance to any nation.It is a huge ,global inter-bank money and capital market that facilitates loans with maturities range from 90 days to 10 years or more and that is almost totally outside all government regulations.
克鲁格曼《国际经济学》（国际金融部分）课后习题答案（英文版）第一章
克鲁格曼《国际经济学》（国际金融部分）课后习题答案（英文版）第一章CHAPTER 1INTRODUCTIONChapter OrganizationWhat is International Economics About?The Gains from TradeThe Pattern of TradeProtectionismThe Balance of PaymentsExchange-Rate DeterminationInternational Policy CoordinationThe International Capital MarketInternational Economics: Trade and MoneyCHAPTER OVERVIEWThe intent of this chapter is to provide both an overview of the subject matter of international economics and to provide a guide to the organization of the text. It is relatively easy for an instructor to motivate the study of international trade and finance. The front pages of newspapers, the covers of magazines, and the lead reports of television news broadcasts herald the interdependence of the U.S. economy with the rest of the world. This interdependence may also be recognized by students through their purchases of imports of all sorts of goods, their personal observations of the effects of dislocations due to international competition, and their experience through travel abroad.The study of the theory of international economics generates an understanding of many key events that shape our domesticand international environment. In recent history, these events include the causes and consequences of the large current account deficits of the United States; the dramatic appreciation of the dollar during the first half of the 1980s followed by its rapid depreciation in the second half of the 1980s; the Latin American debt crisis of the 1980s and the Mexico crisis in late 1994; and the increased pressures for industry protection against foreign competition broadly voiced in the late 1980s and more vocally espoused in the first half of the 1990s. Most recently, the financial crisis that began in East Asia in 1997 andspread to many countries around the globe and the Economic and Monetary Union in Europe have highlighted the way in which various national economies are linked and how important it is for us to understand these connections. At the same time, protests at global economic meetings have highlighted opposition to globalization. The text material will enable students to understand the economic context in which such events occur.Chapter 1 of the text presents data demonstrating the growth in trade and increasing importance of international economics. This chapter also highlights and briefly discusses seven themes which arise throughout the book. These themes include: 1) the gains from trade;2) the pattern of trade; 3) protectionism; 4), the balance of payments; 5) exchange rate determination; 6) international policy coordination; and 7) the international capital market. Students will recognize that many of the central policy debates occurring today come under the rubric of one of these themes. Indeed, it is often a fruitful heuristic to use current events to illustrate the force of the key themes and arguments which are presentedthroughout the text.。
国际经济学课后答案第一章
PART I INSTRUCTOR’S MANUALCHAPTER 1THE INTERNATIONAL ECONOMYCHAPTER OVERVIEWThis chapter introduces students to the international economy. The first part of the chapter emphasizes the high degree of economic interdependence that charac terizes today’s economies. Economic interdependence includes international trade and international finance.The chapter also focuses on the United States as an open economy. Data are provided that show U.S. exports as a percent of gross domestic product and the value of U.S. trade with its major trading partners. The chapter notes that many U.S. firms source a portion of the production of their goods in foreign countries.The chapter concludes by discussing the nature of international competitiveness--for firms, industries, and nations. It is noted that exposure to global competition tends to improve the efficiency of firms. Finally, the chapter introduces the potential effects that international trade has on workers.After completing the chapter, students should be able to:∙Define economic interdependence.∙Discuss the importance of international trade for the U.S. economy.∙Examine the factors that make a company American.∙Discuss the nature of competitiveness and how it applies to firms, industries, and nations.∙Identify the advantages and disadvantages of international trade for workers.BRIEF ANSWERS TO STUDY QUESTIONS1. Interdependence among today's economies reflects the historical evolution of the world's economic andpolitical order. Since World War II, Europe and Japan have reindustrialized. What is more, theformation of the European Community and the Organization of Petroleum Exporting Countries, as well as the rise of multinational corporations, has contributed to closer economic and political linkages.2. Proponents of an open trading system maintain that free trade leads to lower prices, the development ofmore efficient production methods, and a greater range of consumption choices. Free trade permitsresources to move from their lowest productivity to their highest productivity. Critics of an open trading system maintain that import competition may displace domestic firms and workers. It is also argued that during periods of national emergency, it is in the best interests of a nation to protect strategic industries.3. For the United States, growing economic interdependence has resulted in exports and imports increasingas a share of national output. Profits of domestic firms and wages of domestic workers are increasingly being affected by foreign competition. Political and economic events play important roles for theoperation of some sectors of the American economy, such as energy and agriculture.4. The volume of international trade is governed by factors including the level of domestic economic activity(e.g., prosperity versus recession) and restrictions imposed by countries on their imports.5. The chapter describes three fallacies of international trade:a. Trade is a zero sum activityb. Imports reduce employment and act as a drag on the economyc. Tariffs and quotas will save jobs and promote a higher level of employment6. International competitiveness refers to the extent to which the goods of a firm or industry can compete inthe marketplace; this competitiveness depends on the relative prices and qualities of products. No nation can be competitive in, and thus be a net exporter of everything. Because a nation’s stock of resources is limited, the ideal is for these resources to be used in their most productive manner. Nations will benefit from specialization and trade by exporting products having a comparative advantage.7. Researchers at the McKinsey Global Institute have found that global competitiveness is a bit like sports.You get better by playing against folks who are better than you. This means companies are exposed to intense global competition tend to be more productive than those who aren’t.8.International trade benefits most workers, especially those in exporting industries. In addition to providingthem jobs and income, it allows them to shop for consumption goods that are cheapest and of the highest quality. However, workers in import-competing industries often feel threatened from competition ofcheap foreign labor.9.Among the challenges confronting the international trading system are maintaining fair standards for laborand promoting environmental quality.10.The threat of international terrorism tends to slow the degree of globalization and also make it becomecostlier. With terrorism, companies must pay more to insure and provide security for overseas staff and property. Heightened border inspections could slow shipments of cargo, forcing companies to stockmore inventory. Tighter immigration policies could reduce the liberal inflows of skilled and blue-collar laborers that permitted companies to expand while keeping wages in check. Moreover, a greaterpreoccupation with political risk has companies greatly narrowing their horizons when making newinvestments.。
2019精品国际经济学双语第1章语文
Country
Change in the production of
iPads
Cl-15 yards
China
-3 sets
+15 yards
Change in the World Output
+2 sets
0
As the U.S. transfers 1 worker from cloth production to iPad production, its
The gain from production and trade is the increase in the world output that results from each country specializing in its production according to its
Two assumptions, within each country:
Labor is the only factor of production and is homogeneous (i.e. of one quality).
The cost or price of a good depends exclusively upon the amount of labor required to produce it.
Cloth
Relative cost
U.S.
5 sets
15 yards 1 iPad=3 yards of cloth
China
1 set
5 yards 1 iPad=5 yards of cloth
The U.S. labor has a 5-to-1 absolute advantage in the production of iPads. The U.S. labor also has a 3-to-1 absolute advantage in the production of cloth. The U.S. has a greater absolute advantage in producing iPads than in producing cloth.
国际经济学英文课件(萨尔瓦多第十版)
International Economic Theories and Policies ■ International Trade Theory 国际贸易理论
■ Analyzes the basis of and the gains from international trade.
FIGURE 1-3 Imports and Exports as a Percentage of U.S. GDP, 1965-2001.
Salvatore: International Economics, 10th Edition © 2010 John Wiley & Sons, Inc.
■ 1980 to present
■ Most pervasive and dramatic period of globalization 全球化最广泛和剧烈的阶段
■ Fueled by improvements in telecommunications and transportation 受益于电信和运输极大改善
imports and exports of goods and services to GDP 用一国商品和服务进出口总值比上GDP的比值来 粗略衡量
Salvatore: International Economics, 10th Edition © 2010 John Wiley & Sons, Inc.
Salvatore: International Economics, 10th Edition © 2010 John Wiley & Sons, Inc.
International Trade and the Nation’s Standard of Living
国际经济学克鲁格曼英文版
国际经济学克鲁格曼英文版Here is an essay on the topic of "International Economics by Krugman (English Version)" with a word count of over 600 words.The field of international economics has long been dominated by the influential works of renowned economist Paul Krugman. His English-language publications have had a profound impact on the understanding and analysis of global economic dynamics. Krugman's seminal contributions have challenged traditional theories and offered new perspectives that have reshaped the way we conceptualize the complexities of the international economic landscape.At the core of Krugman's work lies a deep understanding of the intricate interplay between trade, investment, and economic growth. His groundbreaking research has shed light on the role of comparative advantage, economies of scale, and imperfect competition in shaping the patterns of global trade and commerce. Krugman's insights have been instrumental in redefining the conventional wisdom regarding the benefits and drawbacks of free trade, highlighting the nuanced and multifaceted nature of international economic integration.One of Krugman's most significant contributions is his analysis of the geography of trade and the emergence of economic agglomerations. By examining the spatial distribution of economic activity, he has challenged the traditional notion of homogeneous and evenly distributed production. Krugman's work has shown how the clustering of industries and the concentration of economic resources can lead to the development of regional hubs and centers of innovation, with profound implications for policymakers and business leaders alike.Moreover, Krugman's work has addressed the complex dynamics of exchange rate fluctuations and their impact on international competitiveness. His models and theories have provided a deeper understanding of the factors that drive exchange rate movements, the consequences of currency misalignments, and the implications for trade balances and global financial stability. This knowledge has been instrumental in informing policy decisions and guiding the efforts of central banks and governments in managing exchange rate regimes.Krugman's contributions extend beyond the realm of trade and finance. His work on the relationship between economic growth and development has shed light on the challenges faced by developing countries in their pursuit of prosperity. By exploring the role oftechnology, human capital, and institutional frameworks, Krugman has offered insights into the drivers of economic development and the policy interventions that can foster inclusive and sustainable growth.Furthermore, Krugman's influence has reached beyond the academic sphere, as his writings have sought to bridge the gap between economic theory and public policy. His accessible and engaging style has made complex economic concepts more comprehensible to a wider audience, empowering policymakers, business leaders, and the general public to engage in informed discussions and debates on the pressing issues of the global economy.In conclusion, the work of Paul Krugman, as articulated in his English-language publications, has been pivotal in shaping the field of international economics. His groundbreaking research, innovative theories, and thought-provoking analyses have challenged conventional wisdom and pushed the boundaries of our understanding of the intricate web of global economic interactions. Krugman's contributions have not only advanced academic discourse but have also informed policy decisions and public discourse, ultimately contributing to a more informed and nuanced understanding of the dynamics of the international economy.。
国际经济学 第一章
Economic interdependence
1.1 Globalization of Economic Activity
Economic interdependence reflects the historical evolution of the world’s economic and political order. Process: 1950’s European Community 1960’s multinational corporations 1970’s Organization of Petroleum Exporting Countries 21’st 1 Euro 4 Carbaugh, Chap.
Carbaugh, Chap. 1 15
Q3:Is a competitive nation one that creates jobs for its citizen? No. most important is the creation of highpaying jobs that improve a nation’s standard of living. Q4:Is a competitive nation one in which wage rates are low? No.
Carbaugh, Chap. 1 14
1.5.2 A nation’s competitiveness
It’s more difficult to assess the competitiveness of a nation. Several questions to answer: Q1:For a nation to be competitive, must all of its firms and industries be competitive? No. Q2:Does a nation have to export more than it imports to be competitive? No.
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Characteristics of National Economies
• Over 200 countries in the world today • Population • Gross National Product (GNP)—value of final goods and services produced by domestic factors of production. • Gross Domestic Product (GDP)—value of final products produced within a country. • Per capita GNP/GDP
• $3.3 trillion in 2007 (or 25% of international trade) • U.S. is the largest exporter and importer of services • Most traded services: transportation, travel, other services (banking, medicine, consulting, insurance & education)
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Examples of International Trade Questions
• What impact will the global financial crisis have on world trade? • Has the recent growth of world trade and capital flows exacerbated the impact of the financial crisis? • Does reliance on international trade lead to a loss of jobs for Americans? • Can American firms compete against firms in low-wage countries? • Is the large U.S. trade deficit harmful? • What is the appropriate value of the dollar?
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Index of Openness
• Index of Openness—a measure of how much a country participates in international trade; defined as the ratio of a country’s exports to its GDP (or GNP). • Open Economy—a country with a high value of the index of openness. • Closed Economy—a country with a relatively low index of openness.
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Geographic Trade Patterns
• Developed countries account for the bulk of world trade (largest exporters and importers). • Developed countries trade primarily with each other. • Developing countries rely on developed countries for their export markets. • Countries trade mainly with neighbors.
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Developing Country vs. Developed Country
• Developing (poor) countries vs. developed (rich) countries – classified by per capita GNP • The poorest countries tend to be located in Africa and Asia. • The richest countries are industrialized countries of Western Europe, North America, and the Pacific Rim. (975 and less/3855/11905/above)
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Branches of International Economics (cont.)
• Finance (international macroeconomics)
– What is the balance of payments? – What is an exchange rate and what factors determine the exchange rate? – What is the relationship between exchange rates, prices, and interest rates? – How are countries affected by foreign direct investment and lending? – How effective are domestic policies given the global economy?
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FIGURE 1.2 Geographic Pattern of Merchandise Trade: 1965 and 2007
1965 World Exports:$162.2 billion
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FIGURE 1.2 Geographic Pattern of Merchandise Trade: 1965 and 2007 (cont.)
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TABLE 1.4 Broad Categories of Exports of Selected Countries, 2006
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TABLE 1.5 Broad Categories of Imports of Selected Countries, Services
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Growth of World Exports
FIGURE 1.1 World Exports and Output in Real Terms: 1950–2007
• What has caused the explosion of world trade?
– Reduction in trade barriers – Advances in transportation, communication and technology – Proliferation of trade agreements
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TABLE 1.1 Basic Characteristics of Selected Countries
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TABLE 1.1 Basic Characteristics of Selected Countries (cont.)
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TABLE 1.1 Basic Characteristics of Selected Countries (cont.)
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Causes of Differences in Economic Growth of Countries
• Quantity and quality of resource endowments, particularly human capital • Investment in plant and equipment • Political and socioeconomic environment that is stable and conducive to competition
– Petroleum – Office machines, computers, and parts – Automobiles
• Increased role of global production (or outsourcing)
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TABLE 1.3 World Trade in Major
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International Trade
• Exports—goods and services produced in one country and sold to other countries. • Imports—goods and services consumed in a country but which have been purchased from other countries. • Trade Deficit (Surplus)—a country has a trade deficit (surplus) if its imports (exports) exceeds its exports (imports).
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Characteristics of World Trade
• Value and growth of world merchandise trade • Largest exporters and importers • Geographic patterns or direction of world trade • Commodity composition – What goods do countries trade?
2007 World Exports:$13830 billion
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TABLE 1.2 Top Ten Trading Partners of Selected Countries, 2007