international economics
International economics
International economicsTarget: understand the reasons of the economic phenomenon.Subject 1: 国际贸易理论的微观基础Subject 2: 古典贸易理论重商主义MercantilismThe government controls the trade to ensure the capital of the country will not go to the others countries. They will accumulate the gold and silver, give export subsidies, make a high tariff, maximizing the use of domestic resources.依靠贸易顺差限制了贸易的发展2.亚当·斯密的自由贸易思想Adam SmithThe invisible hand: first coined by Adam Smith. It means that the self-regulating nature of the market. People all want to maximize their own gains, and it will benefits the whole society.❖Smith think:If one country has the absolute advantage of a production, it has less cost than other countries, this country should focus on this production, and gain profit from trade.e.g. the Needleman buy shoes from a shoe-maker, and the shoe-maker engages the Needleman to make cloth for him.（三）大卫李嘉图的比较优势理论Comparative AdvantageThe comparative advantage refers to the ability of a country to produce a particular good or service at a lower opportunity cost. Even if one country is more efficient in the production of all goods (absolute advantage) than the other, both countries will still gain by trading with each other, as long as they have different relative efficiencies.评价：❖Adam Smith explained the base of the trade by the cost of production. And Ricardian demonstrated that the different of labor costs is the determinant of trade, and all countries will gain profit from the trade.❖Using labour as the only input.Subject 3: 要素禀赋理论要素禀赋The factor-proportions theoryThe theory states that a country’s comparative advantage is determined by its initial resource endowments.Capital intensive 资本密集型K/L 高Labor intensive 劳动密集型K/L 低Capital-to-labor ratio(k/l) 资本劳动比Subject 4: 特定要素理论Subject 5: 规模经济、不完全竞争与国际贸易Scale economics: The scale of production increases, the efficiency of the production will increase, and the cost of each product will decrease.Why the scale economics is the cause of trade: 1. each country can produce limited category of products by the scale economics.2. through international trade, increase the types of goods available for consumption. Imperfect competitionForms of imperfect competition include:•Monopoly垄断, in which there is only one seller of a good.•Oligopoly寡头垄断, in which there are few sellers of a good. •Monopolistic competition, in which there are many sellers producing highly differentiated goods.•Monopsony, in which there is only one buyer of a good.•Oligopsony, in which there are few buyers of a good.Information asymmetry when one competitor has the advantage of more or better information.If there are more sellers in the market, the average cost of the product will be higher. If there are more sellers in the market, the price of the product will be lower.And if there are more sellers, more kinds of products, the customers will gain more benefit.Subject 6: 国际要素流动——见投资Subject 7: 国际贸易政策——见关税配额出口补贴Subject 8: 区域经济一体化与关税同盟理论一、区域经济一体化的形式❖包括以下五种形式：自由贸易区free trade areaA trade bloc whose member countries have signed a free-trade agreement (FTA), which eliminates tariffs, import quotas, and preferences on most (if not all) goods and services traded between them.关税同盟customs UnionA customs union is a type of trade bloc which is composed of a free trade area with a common external tariff. The participant countries set up common external trade policy, but in some cases they use different import quotas.共同市场common marketThe freedom of movement of the factors of production and services, the participant countries have the same tariff barrier to other countries.经济联盟economic unionThe have both common policies on product regulation, freedom of movement of goods, services and the factors of production (capital and labour) and a commonexternal trade policy. The countries often share a common currency.完全的经济一体化economic integrationEconomic integration refers to trade unification between different states by the partial or full abolishing of customs tariffs on trade taking place within the borders of each state. This is meant in turn to lead to lower prices for distributors and consumers (as no customs duties are paid within the integrated area) and the goal is to increase trade.Subject 2: 外汇市场The foreign exchange market (forex, FX, or currency market) is a global, worldwide-decentralized financial market for trading currencies. The foreign exchange market assists international trade and investment, by enabling currency conversion. The foreign exchange market is the most liquid financial market in the world. Traders include large banks, central banks, institutional investors, currency speculators, corporations, governments, other financial institutions, and retail investors.外汇市场的功能国际清算(International Clearing)国际信贷(International Credit)套期保值(Hedging)：A hedge is an investment position intended to offset potential losses that may be incurred by a companion investment.外汇投机(Foreign Exchange Speculation)Exchange PriceForeign exchange rate: exchange rate between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency.Quotation直接标价法(Direct Quotation) : 1 foreign currency unit = x home currency unitse.g. 1 美元=8.27人民币，则汇率上升表示外币升值，本币贬值。
国际经济与贸易 金融学 经济学的区别
内容介绍
经济学，围绕经济现象进行解读、分析、预测等等。所学以统计学、会计学、财政学、西方经济 学等等。经济学是一个研究理论的基础学科，距离赚钱相差甚远。 国际经济与贸易，简单来说，与进出口相关。所学课程以贸易实务、贸易政策和贸易理论三个模 块为主，实务以结算、保险、税收为主要导向，政策有海商法、WTO规则等等，理论就是贸易学、 经济学等等。 3、就业方向不同 金融学就业方向是金融监管部门、银行、保险公司、证券公司、信托公司、基金公司、从教等等。 深造才能学到专业精髓。 经济学就业方向是经济管理部门、投资公司、证券公司、资产管理公司、咨询行业、从教等等。 想要获得比较好的岗位，最好深造。
内容介绍
国际经济与贸易就业方向是外贸公司、合资企业、外资企业、海关、商检、货代公司。这个专业 实践经验很重要，所学比较泛的情况下，最好有核心的价值和竞争力。
参考资料：国际经济学
国际经济学，以经济学的一般理论为基础，研究国际经济活动和国际经济关系，是一般经济理论 在国际经济活动范围中的应用与延伸，是经济学体系的有机组成部分。主要研究对象有国际贸易 理论与政策、国际收支理论、汇率理论、要素的国际流动、国际投资理论、开放的宏观经济均衡 等。国际经济学是20世纪20年代初在传统的国际贸易学和国际金融学的基础上逐步发展起来的。 第二次世界大战后，它在资本主义国家越来越受到重视。
名词解释：国际经济
国际经济（International Economics）是指在开放经济条件下，为了实现国家利益最大化和全 球利益的均衡化，国家之间的商品、资本、其他价值判断和价值规律的学科。本专业培养具有金融学理论知识及专业技能的专门人 才。经济学是研究人类经济活动的规律即价值的创造、转化、实现的规律——经济发展规律的理 论，分为政治经济学与科学经济学两大类型。 国际经济与贸易培养能较系统地掌握经济学基本原理和国际经济、国际贸易的基本理论，掌握国 际贸易的基本知识和基本技能的人才。 2、专业性质不同 金融学，围绕货币进行研究，主要学习内容分为宏观金融、微观金融和金融工具方面，宏观金融 方面以国际金融学为代表，微观金融方面以证券投资学、保险学、财务管理等为代表，金融工具 方面以计量经济学为代表。综合来讲，金融学还是研究金融理论多于实操的专业。
国际经济学 英文
国际经济学英文English:International economics is the study of how countries interact with each other in terms of trade, finance, and international investment. It examines the impact of international organizations, such as the World Trade Organization and the International Monetary Fund, on global economic development, and the role of governments in shaping international economic policies. International economics also explores the effects of globalization, exchange rate fluctuations, and trade agreements on national economies, as well as the implications of economic integration and cooperation among countries. This field of study helps to understand the complexities of cross-border transactions and the interconnectedness of different economies, and provides insights into the potential benefits and challenges of international economic interactions.中文翻译:国际经济学是研究国家在贸易、金融和国际投资方面如何相互联系的学科。
《国际经济学》考试大纲(International economics examination outline)
《国际经济学》考试大纲（International economics examinationoutline）Long time no upload documents, recently found a few good documents, upload up, and share with youInternational economics examination outlineTextbook, International EconomicsScience PressQiu Jizhou series2005 EditionI, the nature of the course and the purpose and requirements of the testInternational economics is a major course in international economics and tradeInternational economics studies the allocation of resources in an open economy and the resulting economic and economic relations across bordersIts content is to explain the international trade theory, international trade policy, international finance theory and international finance policy under the open economy conditionThe advanced courses in international economics are mainlyinternational trade, international finance, international economic cooperation, and international trade practiceLearn through this courseThe ability to analyze and solve problems can be further improvedLearn through this courseStudents are required to master the basic theories of international economics, the basic methods of international economics and the unity of theoretical analysis and empirical analysis in a comprehensive and systematic wayTake into account both empirical analysis and normative analysisII. Assessment objectivesChapter one is the theory of comparative advantageI. assessment of knowledge points1, the principle of absolute advantage;2, the principle of comparative advantage;3, opportunity cost and comparative advantage;4, international trade under the condition of increasing costTwo, assessment requirements1, remember: the principle of absolute advantage and comparative advantage principle, opportunity cost2, understand: the relationship between the principle of absolute advantage and the principle of comparative advantage, the relationship between opportunity cost and comparative advantage, cost deliveryIncreased trade patternsThe second chapter is trade balance theoryI. assessment of knowledge points1. Equilibrium analysis: the production possibility curve and the social indifference curve;2, equilibrium analysis: supply curve and demand curve3, provide curves and terms of trade4, international trade based on preference differenceTwo, assessment requirementsL, remember: the production possibility curve, social indifference curve, the supply and demand curves, curve, tradeConditions and preference differences2, understand: General Equilibrium Analysis of international trade, partial equilibrium analysis of international trade and the meaning of terms of tradeThe third chapter, factor endowment theoryI. assessment of knowledge points1, H-O model2, the impact of international trade on the short-term income of factor of production3 and Stolpes Samuelson theorem4, the factor price equalization theorem5, leentiefTwo, assessment requirements1, remember: the factor intensity, factor abundance, Stolper Samuelson theorem, and factor price equalization theorem,The leentief, factor intensity transform2. Comprehend the content of H-O model, the relation between international trade and factor income distribution and the theorem of factor price equalizationThe meaning and the leentief explanation,The fourth chapter is modern trade theoryI. assessment of knowledge points1, economies of scale and international trade2, imperfect competition and international trade3, demand structure trade theory4, technology gap, trade theoryTwo, assessment requirementsL, remember: monopolistic competition, economies of scale, product difference2. Understanding: the relationship between economies of scale and international trade, the concept and causes of intra industry trade, and the theory of preference similarityContent, technical gap, content of trade theoryThe fifth chapter is about the basic principle of tariffI. assessment of knowledge points1, the concept and kind of tariff2, tariff effects: small country situation3, tariff effect: big country situation4, the optimal tariff theory5, tariff structure theoryTwo, assessment requirements1, remember: the concept, types, tariff tariff tariff, tariff effect, effect of small power optimal tariff theoryIts meaning, effective protection rate and tariff structure2, understand: the difference and comparison of different customs duties, the methods and characteristics of tariff collection and the partial equilibrium of small tariff effectAnalysis, the partial equilibrium analysis of the big country effect of tariff, the measurement of the optimum tariff theory and the effective rate of protectionCalculation and analysisThe sixth chapter is non tariff trade policy and discriminatory trade policyI. assessment of knowledge points1, import quotas2, export policy3, other non-tariff barriers4, strategic trade policy5. International cartels6, discriminatory trade policy7. Trade policy and the industrialization strategy of developing countries8, trade systemTwo, assessment requirements1, remember: import quota, import license, voluntary export restrictions, export subsidies and countervailing duties, the dumping of goods,Discriminatory government procurement, technical barriers, strategic trade policy content, and regional economic integrationTrade creation, trade diversion, import substitution strategy and export oriented strategy2, understand the economic effects of import quotas, the modeof distribution of import licenses, the economic effects of export subsidies and dumping,The content of the customs union theoryThe seventh chapter is about trade policy and trade systemI. assessment of knowledge points1, the welfare basis of the trade protection policy2. Trade policy and the industrialization strategy of developing countries3, trade systemTwo, assessment requirements1, remember: the second best theory, infant industry protection theory, theory of terms of trade, import substitution strategy, the export oriented strategy,Trade system, GATT., most favored nation treatment, national treatment2. Comprehend the content and significance of the theory of infant industrial protection, the role of GATT, GATT and WTORelationshipThe eighth chapter is the balance of payments accountI. assessment of knowledge points1. Balance of payments and balance of payments account2, the structure of the balance of payments account3, the balance of payments and the balance of payments4. Balance of payments and national income accountsTwo, assessment requirements1, remember: the international balance of payments the concept of international balance of payment, account of the concept, the international balance of payments, current account, capitalThe project, the balance of the project, autonomous transaction, regulatory trade, GDP, 2 of GDP, understand: BOP, BOP content analysis method, the balance of payments and the national incomeAccount relationshipThe ninth chapter: foreign exchange marketI. assessment of knowledge points1, foreign exchange, exchange rates and foreign exchange markets2, foreign exchange transactions3, foreign exchange supply and demand4. Foreign exchange controlTwo, assessment requirements1, memory: the concept of foreign exchange and exchange rate concept, direct quotation, indirect quotation, spot foreign exchange transaction, forwardThe concept of foreign exchange trading, options trading, stability, speculative arbitrage, equilibrium in the foreign exchange market, foreign exchange control2, understand: types of foreign exchange, exchange rate relations, foreign exchange market classification methods, forward foreign exchange rate premiumFlat arbitrage principle and calculation, transaction process, hedging transactions, foreign exchange market equilibrium contentTypes, the economic basis of foreign exchange control and the harm of foreign exchange controlThe tenth chapter is exchange rate theoryI. assessment of knowledge points(I) exchange rate mechanism of the gold standard(two) purchasing power parity theory(three) monetarist exchange rate theory(four) asset balance exchange rate theory(five) economic effects of exchange rate changes;Two, assessment requirementsL, remember: (1) the gold standard (2) mint parity (3) the theory of purchasing power parity (4) substitution effect (5) economyEffect2. Understanding: the reason why the exchange rate fluctuates on the basis of mint parity, the content of purchasing power parity theory, MonetarismThe content of exchange rate theory, the asset balance, the content of exchange rate theory and the economic effects of exchange rate changesThe eleventh chapter, adjustment of balance of paymentsI. assessment of knowledge points(1) reasons for the imbalance of international payments and the adjustment mechanism;(two) price adjustment theory(three) income adjustment theory(four) monetary adjustment theoryTwo, assessment requirementsL, remember: (1) the concept of the Marshall Lerner condition (2) J (3) - curve effect price specie flow mechanism2, understand: (1) the reason of global imbalances (2) adjustment mechanism of international payments imbalances (3) Marshall Lerner.The economic meaning of the article (4) the relation between the devaluation and the terms of trade (5) the multiplier theory of the international balance of payments(6) the adjustment of the balance of payments currency under the fixed exchange rate (7) the balance of payments under the floating exchange rateMonetary adjustmentThe twelfth chapter is the international monetary systemI. assessment of knowledge points(I) comparison of exchange rate regimes(two) Bretton Woods system;(three) the Jamaica monetary agreement and the managed floating exchange rate regime;(four) European Monetary IntegrationTwo, assessment requirements1, remember: (1) the peg (2) the Bretton Woods Monetary Agreement (3) Jamaica (4) management floating exchangeRate mechanism (5) joint floating (6) optimum currency area2, understand: (1) comparison of fixed exchange rate system and floating exchange rate system (2) the main contents of Bretton Woods system (includingIts function and main defects) (3) the main contents of the Jamaica monetary agreement (4) European Monetary IntegrationcourseRequirements for explanation and ImplementationI. directions for examination objectivesIn order to make the examination content concrete and theexamination request targetThis examination syllabusOn the basis of listing the content of the examinationThe examination objectives are set out in each chapterTo enable candidates to further clarify the content and requirements of the examinationMore systematically study the teaching material, and make the test proposition clearerMore accurately arrange the knowledge, ability level and difficult procedure of the test questionsThe examination outline is in the assessment targetAccording to records, understand the provisions of its two levels should reach the ability level requirementsThe two ability levels are progressive hierarchiesWhat are the implications of the levels of competence?:Remember: to know about nouns, concept, the meaning of knowledgeAnd can correctly understand and expressUnderstand: Based on recognitionBe able to grasp the basic concepts, basic norms and basic methodsBe able to grasp the differences and relations between concepts, norms and methodsAnd internalize your actual ability to workTwo, proposition examination requirementsL and international economicsWithout special requirementShould be strictly limited to the scope of the examination and examination objectives outlined in this outlineExamination coverage should include chapters of teaching materialsAnd properly highlight key chapters2, the content of the examination should be reasonable arrangement of difficulty structureGenerally speaking, "Yi" accounts for 20%"Easy" accounted for 30%"Difficult" accounts for 30%"Difficult" accounts for 20%3, this course examination adopts closed winding modeThe exam time is 120 minutesThe size of the examination questions should be adapted to the examination time4, this course examination paper may use the questions include: noun explanation, fill in the blanks, individualmultiple-choice questions, non - judgmental questions, calculation questions, brief questions, discussion questions and so onCheck total scoreReviewerTotal scoreTitle numberOneTwoThreeFourFiveSixSevenQuestion scoreIdentical personScoreScoreThe markingReexamination man1. in the model of comparative advantageThe international parity of two types of traded goodsA. on the domestic price of the two commodities before the trade between the two countriesB. at the domestic parity of the two commodities before the two countries tradeC. the domestic parity between the two commodities before thetrade between the two countriesD. has the same domestic parity as any other country before trade2. which of the following does not belong to speculative foreign exchange trading?A. B. C. bilateral multilateral arbitrage arbitrage arbitrage D. hedging3. from the internal balanceExpansionary monetary policy will make ()A. outflows of funds,B. interest rates fell byC., trade balance improvedD., import demand decreasedFourOf or relating to a tariff barrierA. import surcharge,B. export subsidy,C. public procurement,D. voluntary export restriction5., China's current exchange rate system is ()A. fixed exchange rate system,B., fully free floating exchange rate,C., managed floating exchange rate,D. pegged exchange rate6., multinational companies have and maintain their unique monopoly advantagesIs an important factor in its investment abroadThe theory is ()A. location advantage theoryB. monopoly advantage theoryC. market internalization theoryD. theory of international production integration7., the price under the gold standard - the basic operation way of mint flow mechanism can be summed up as ()A. trade deficit - gold inflows - money supply - domestic commodity prices - export growth, imports decline - trade balance improvedB. balance of trade deficit - Gold outflow - reduced money supply - lower domestic commodity prices - increased exports and reduced imports - improved trade balanceC. trade surplus - gold inflows - an increase in the money supply - lower domestic commodity prices - lower exports, higher imports - improved trade balanceD. trade surplus - Gold outflows - reduced money supply - lower domestic commodity prices - lower exports, increased imports - improved trade balance8., C is the marginal propensity to consumeS is marginal propensity to saveM is marginal import propensityUnder the open economy, the foreign trade multiplier is ()A.1 / sB.1 / (1-C)C.1 / (s+m)D.1 / (1-s-m)9. control foreign exchange expenditures by residentsMaintain the stability of the external value of the currencyThis method is called ()A. foreign exchange control,B. financing fund,C. import quota quota,D. adjustment economy10., the relative superiority of the factor of production was first proposed, which led to economists in international tradeA., Adam Smith,B., David Ricardo,C., David sue, desert,D., Eli Heckscher11. according to the characteristics of the products, the standards of tariff collection are determined respectivelyThen choose one way to impose customs dutiesThis duty is called ()From the amount of ad valorem tax B. A. C. mixed tax D. tax12., international trade has different effects on different interest groupsIt is generally believed that the import of goods is beneficial to a countryA. consumer group,B. producer group,C., foreign consumer group,D., foreign government agencies13., according to the devaluation of the J curve effect" The initial period after the devaluation of the currency Trade balance ()A. improvesB. deterioration,C. does not change, andD. changes are uncertain14. the highest authority of the world trade organization is ()A. Secretariat,B. ministers meeting,C. General Council,D. Committee15. producer surplus means ()A. below supply curvePrice curve above and vertical axis enclosed partB. below supply curveThe price curve follows the vertical axisC.Above supply curvePrice curve above and vertical axis enclosed partAbove the supply curve of D.The price curve follows the vertical axis16. the SDR is essentially a ()A. currency,B. funds,C. claims,D. accounting units17. the following measures for non-tariff barriers are ()A. anti-dumping duties,B. countervailing duties,C. import surcharges,D. domestic minimum price18. the GATT has conducted rounds of multilateral trade negotiationsThe longest negotiating time is ()A. Geneva round,B. Tokyo round,C. Uruguay round,D., round19., the countries that adopt import substitution strategies are not inclined to use policiesA. barriers to import tariffs,B. barriers to non-tariff barriersC. controls foreign exchange, andD. underestimates the external value of its currency20., if the euro against the dollar exchange rate from EURI=USD0.8925 to EURI=USD0.8740Explain ()A. dollar appreciationThe euro depreciated and the value of the B. depreciatedEuro appreciationC. Euro unchangedDollar depreciation, D. Euro unchangedDollar appreciationScoreThe markingReexamination man21., the basic features of protective tariffs are22., the main characteristics of multinational corporations are internationalization, centralized management and23. the policy tools of import substitution strategy are mainly protective tariff and overvalued local currency exchange rate24. is the earliest in the worldIt is also the most basic mode of a special economic zone25. generally believe thatDebt service ratio is lower than that of financial expenditureThe most important principle in the 26. World Trade Organization is that27. means complete economic integrationThat is, member states are in complete agreement with trade, currency, finance, etc.The realm of free flow of goods, capital, and labor28., the Bretton Woods system established a central international monetary system29. export controls include unilateral export controls and twobasic forms30., in order to achieve the purpose of international reserve structure managementIn management, the basic principles of safety, liquidity and profitability should be followedScoreThe markingReexamination man31., consider international investment as an international exchangeIt means using the future goods to exchange the present goods()The establishment of the 32. customs union may contribute to the formation of new monopolies()33. when the direct quotation is used to indicate the foreign exchange rateThe greater the valueMeans the higher the value of the local currency()34. Bretton Woods system confirms the legalization of floating exchange rate()35. immigration will have an impact on the international labour market()ScoreThe markingReexamination man36. international economyScore37. Economic CommunityScore38. foreign exchange controlScore39. carry tradeScore40. reflow effectScoreScoreThe markingReexamination man41. what is the nature of the disequilibrium of balance of payments?Score42., what is the positive impact of FDI on state-owned capital?Score43. e-commerce compared with traditional trade patternsWhat are the advantages?Score44., what are the main functions of foreign exchange?Score45. what are the characteristics of the international investment fund?ScoreScoreThe markingReexamination man46. briefly analyze the characteristics and advantages of managed floating exchange rate systemScorebranch47., try to analyze the positive and negative role of tariffScore。
International Economics chap 02(克鲁格曼国际经济学英文版)
Theory and Policy (Ninth Edition) Paul R. Krugman 黄卫平 彭刚
Chapter 2 Specific Factors and Income Distribution
CONTENTS
01
Understand how a mobile factor will Respond to price changes by mபைடு நூலகம்ving Across sectors?
1 2
LC2
3
AA
Labor Input in cloth, Lc
1 2
Production Possibility Frontier, PPF
BB（slope= -PC/ PF ,the minus relative 3 price of cloth）
QC2
Output of cloth, Qc
Production function for cloth
The same: MPLF×PF=w= MPLC×PC, or -MPLF/MLPC= -PC/ PF
Wage rate, w
10% PC increase
10% w increase
Labor used in cloth, LC
Price, wages and labor allocation-an equal-proportional change in prices
The main reasons that international trade has strong effects on the distribution of income are: 1. A short-run consequence of trade 2. A long-run consequence of trade
International Economics chap 04(克鲁格曼国际经济学英文版)
Theory and Policy (Ninth Edition) Paul R. Krugman 黄卫平 彭刚
Chapter 4 A more general one: The standard trade Model
CONTENTS
01 Explain standard trade model
An increase in PC/ PF
RS
1
1
2
2
1
QC
QC
Qc/ QF
QF
Food imports
Relative prices and demand
C Q
Cloth exports
PC×CC+PF×CF=v=PC×QC+PF×QF -budget constraint
The equation above says that production and consumption must lie on the same isovalue line in blue. 1.The economy’s choice of a point of consumption on the isovalue line depends on the tastes of its consumers. 2.Its choice of a point of production depends on the relative price of cloth.
and the relative supply curve; 2. The relationship between relative prices and relative
InternationalEconomicsII国际经济学
International Economics, 8e (Krugman) II Chapter 12 National Income Accounting and the Balance of Payments1) A country's gross national product (GNP) isA) the value of all final goods and services produced by its factors of production and sold on the market in a given time period.B) the value of all intermediate goods and services produced by its factors of production and sold on the market in a given time period.C) the value of all final goods produced by its factors of production and sold on the market in a given time period.D) the value of all final goods and services produced by its factors of production and sold on the market.E) the value of all final goods and services produced by its factors of production, excluding land, and sold on the market in a given time period.Answer: A2）The CA is equal toA) Y - (C - I + G).B) Y + (C + I + G).C) Y - (C + I + G).D) Y - (C + I - G).E) None of the above.Answer: A3）For open economies,A) S = I.B) S = I + CA.C) S = I - CA.D) S > I + CA.E) S < I + CA.Answer: B4）A U.S. citizen buys a newly issued share of stock in England, paying for his order with a check, which the British company deposits in its own U.S. bank account in New York. How is this transaction accounted for in the balance of payments?A) financial account, U.S. asset exportB) current account, U.S. service importC) current account, British good exportD) financial account, British asset importE) financial account, U.S. asset importAnswer: A5) The earnings of a Spanish factory with British ownersareA) counted in Spain's GDP.B) are part of Britain's GNP.C) are counted in Britain's GDP.D) are part of Spain's GNP.E) Only A and B.Answer: E6）"The Balance of payments is always balanced." Discuss.Answer: True. Every international transaction automatically enters the balance of payments twice, once as a credit and once as a debit.Current account + financial account + capital account = 07) "The balance of payments accounts seldom balance in practice." Discuss.Answer: True. The main reasons are due to the fact that data collected or received from different sources may differ in coverage, accuracy, and timing. In addition, data on services are not reliable as well as data from the financial account. Moreover, accurate measurements of international interest and dividend receipts areparticularly difficult.8）Fill in the following table:Answer:Chapter 13 Exchange Rates and the Foreign Exchange Market: An Asset Approach1）How many British pounds would it cost to buy a pair of American designer jeans costing $45 if the exchange rate is 1.80 dollars per British pound?A) 10 British poundsB) 25 British poundsC) 20 British poundsD) 30 British poundsE) 40 British poundsAnswer: B2) An appreciation of a country's currency,A) decreases the relative price of its exports and lowers the relative price of its imports.B) raises the relative price of its exports and raises the relative price of its imports.C) lowers the relative price of its exports and raises the relative price of its imports.D) raises the relative price of its exports and lowers therelative price of its imports.E) None of the above.Answer: D3) Which major actor is at the center of the foreign exchange market?A) corporationsB) central banksC) commercial banksD) non-bank financial institutionsE) None of the above.Answer: C4) What is the expected dollar rate of return on euro deposits with today's exchange rate at $1.10 per euro, next year's expected exchange rate at $1.166 per euro, the dollar interest rate at 10%, and the euro interest rate at 5%?A) 10%B) 11%C) -1%D) 0%E) None of the above.Answer: B5) What is the expected dollar rate of return on dollar deposits with today's exchange rate at $1.10 per euro, next year's expected exchange rate at $1.165 per euro, the dollar interest rate at 10%, and the euro interest rate at 5%?A) 10%B) 11%C) -1%D) 0%E) None of the above.Answer: A6）If the dollar interest rate is 10 percent, the euro interest rate is 6 percent, and the expected return on dollar depreciation against the euro is 4 percent, thenA) an investor should invest only in dollars.B) an investor should invest only in euros.C) an investor should be indifferent between dollars and euros.D) It is impossible to tell given the information.E) All of the above.Answer: C7）Discuss the effects of a rise in the interest rate paid byeuro deposits on the exchange rate.Answer: There are two effects to consider. If we make the unrealistic assumption that the expected exchange rate will not change, then a rise in the interest rate paid by Euro deposits causes the dollar to depreciate. However, if the expected exchange rate were to rise, then the current exchange rate would also rise. (See figure 13-6 from the text.)8) Calculate the interest rate in the euro zone if interest parity condition holds, for the following 15 cases: Answer:Chapter 14 Money, Interest Rates, and Exchange Rates1）Money includesA) currency.B) checking deposits held by households and firms.C) deposits in the foreign exchange markets.D) Both A and B.E) A, B, and C.Answer: D2）The aggregate money demand depends onA) the interest rate.B) the price level.C) real national income.D) All of the above.E) Only A and C.Answer: D3）Using a figure describing both the U.S. money market and the foreign exchange market, analyze the effects of a temporary increase in the European money supply on the dollar/euro exchange rate.Answer: An increase in the European money supply will reduce the interest rate on the euro and thus will cause the schedule of the expected euro return expresses in dollars to shift down, causing a reduction in the dollar/euro exchange rate, i.e., an appreciation of the U.S. Dollar. The euro depreciates against the dollar. The U.S. money demand and money supply are not going to be affected, and thus the interest rate in the U.S. will remain the same.4) A permanent increase in a country's money supplyA) causes a more than proportional increase in its price level.B) causes a less than proportional increase in its pricelevel.C) causes a proportional increase in its price level.D) leaves its price level constant in long-run equilibrium.E) None of the above.Answer: C5）After a permanent increase in the money supply, A) the exchange rate overshoots in the short run.B）the exchange rate overshoots in the long run.C) the exchange rate smoothly depreciates in the short run.D) the exchange rate smoothly appreciates in the short run.E) None of the above.Answer: A6）"Although the price levels appear to display short-run stickiness in many countries, a change in the money supply creates immediate demand and cost pressures that eventually lead to future increase in the price level." Discuss.Answer: The statement is true. The pressures come from three main sources: excess demand for output and labor; inflationary expectations; and, raw material prices.7）The long run effects of money supply change:A) ambiguous effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the opposite direction.B）proportional effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the same direction.C) no effect on the long-run values of the interest rate or real output, a proportional change in the price level's long-run value in the same direction.D) no effect on the long-run values of the interest rate or real output, no change in the price level's long-run value.E) ambiguous effect on the long-run values of the interest rate or real output, A disproportional change in the price level's long-run value in the same direction.Answer: CChapter 15 Price Levels and the Exchange Rate in the Long Run1）Under Purchasing Power Parity,A) E$/E = PUS/PE.B) E$/E = PE/PES.C) E$/E = PUS + PE.D) E$/E = PUS - PE.E) None of the above.Answer: A2）Assuming relative PPP, fill in the table below: Answer:3) Under PPP (and by the Fisher Effect), all else equal,A) a rise in a country's expected inflation rate will eventually cause a more-than proportional rise in the interest rate that deposits of its currency offer in order to accommodate for the higher inflation.B) a fall in a country's expected inflation rate will eventually cause an equal rise in the interest rate that deposits of its currency offer.C) a rise in a country's expected inflation rate will eventually cause an equal rise in the interest rate that deposits of its currency offer.D) a rise in a country's expected inflation rate will eventually cause a less than proportional rise in the interest rate that deposits of its currency offer to accommodate the rise in expected inflation.E) None of the above.Answer: C4）Describe the chain of events leading to exchange rate determination for the following cases:(a) An Increase in U.S. money supply(d) Increase in growth rate of U.S. money supply(c) Increase in world relative demand for U.S. products(d) Increase in relative U.S. output supplyAnswer: Chain of events leading to exchange rate determination:E= ∈/$q× (P us/P E)∈/$Increase in U.S. money supply: Pus rises in proportion to the money supply; q remains the same. All dollar prices will rise (including dollar price of euro).Increase in growth rate of U.S. money supply: Inflation rate, dollar interest rate, Pus, E, rises in proportion to Pus.Increase in world relative demand for U.S. products: E falls, and q does as well.Increase in relative U.S. output supply: Dollar depreciates, lowers relative price ofU.S. output, rise in q, effect on E is not clear since q and Pus work in opposite directions.5）Which of the following statements is the mostaccurate?A) Relative PPP is not a reasonable approximation to the data.B) Relative PPP is sometimes a reasonable approximation to the data but often performs poorly.C) Relative PPP is sometimes a reasonable approximation to the data.D) PPP is sometimes a reasonable approximation to the data.E) PPP is sometimes a reasonable approximation to the data but usually performs poorly.Answer: B6) Interest rate differences between countries depend onA) differences in expected inflation, but not on expected changes in the real exchange rate.B) differences in expected changes in the real exchange rate, but not on expected inflation.C) neither differences in expected inflation, nor on expected changes in the real exchange rate.D) differences in expected inflation and nothing else.E) differences in expected inflation, and on expected changes in the real exchange rate.Answer: E8) What is the real exchange rate between the dollar and the euro equal to?Answer:Let,∙Real dollar/euro exchange rate =q∈/$∙Nominal exchange rate =E∈/$∙Price of an unchanging basket in US = Pus∙Price of an unchanging basket in Europe = PEThen,q= (∈/$E× P E)/Pus∈/$A rise in the real dollar/euro exchange rate is called a real depreciation of the dollar against the euro, a fall in purchasing power of the dollar.A fall in the real dollar/euro exchange rate is called a real appreciation of the dollar against the euro, a rise in purchasing power of the dollar.Chapter 16 Output and the Exchange Rate in the Short Run1）A country's domestic currency's real exchange rate, q, is best described byA) the price of similar goods in the same market.B) the price of the domestic basket in terms of the foreignone.C) the price of a domestic basket.D) the price of the foreign basket in terms of the domestic basket.E) the price of different goods baskets in the same market.Answer: D2）Fill in the following table:Answer：3) How does a rise in real income affect aggregate demand?A) Y ↑implies Yd ↑implies Im ↑implies CA ↓implies AD ↓, but Y ↑implies Yd ↑implies C ↑implies AD ↑by moreB) Y ↑implies Yd ↑implies Im ↓implies CA ↓implies AD ↓, but Y ↑implies Yd ↑implies C ↑implies AD ↑by moreC) Y ↑implies Yd ↑implies Im ↑implies CA ↑implies AD ↑, and Y ↑implies Yd ↑implies C ↑implies AD ↑D) Y ↑implies Yd ↑implies Im ↑implies CA ↓implies AD ↓, but Y ↑implies Yd ↑implies C ↑implies AD ↑by lessE) Y ↑implies Yd ↑implies Im ↓implies CA ↓implies AD ↓, but Y ↑implies Yd ↑implies C ↑implies AD ↑by lessAnswer: A4）The aggregate demand for home input can be written as a function of:I. Real exchange rate.II. Government spending.III. D isposable income.A) I onlyB) III onlyC) I and IIID) II and IIIE) I, II, and IIIAnswer: E5) In the short-run, any rise in the real exchange rate, EP /P, will causeA) an upward shift in the aggregate demand function and a reduction in outputB) an upward shift in the aggregate demand function and an expansion of outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intactAnswer: B6) In the short-run, any fall in EP/P, regardless of its causes, will causeA) an upward shift in the aggregate demand function and an expansion of outputB) an upward shift in the aggregate demand function and a reduction in outputC) a downward shift in the aggregate demand function and an expansion of outputD) an downward shift in the aggregate demand function and a reduction in outputE) an upward shift in the aggregate demand function but leaves output intactAnswer: D7) In the short-run, a temporary increase in the money supplyA) shifts the AA curve to the right, increases output and depreciates the currency.B) shifts the AA curve to the left, increases output and depreciates the currency.C) shifts the AA curve to the left, decreases output and depreciates the currency.D) shifts the AA curve to the left, increases output and appreciates the currency.E) shifts the AA curve to the right, increases output and appreciates the currency.Answer: A8）If the economy starts in long-run equilibrium, a permanent fiscal expansion will causeA) an increase in exchange rate, E.B) a decrease in exchange rate, E.C) an increase in output, Y.D) a decrease in output, Y.E) shifting of the AA curve up and to the right. Answer: BChapter 17 Fixed Exchange Rates and Foreign Exchange Intervention1) A central bank's international reserves includeA) any gold that it owns.B) any silver that it owns.C) any gold that it owns and foreign and domestic assets.D) any silver that it owns and foreign and domestic assets.E) only foreign and domestic assets.Answer: C2）A balance sheet for the central bank of Pecunia is shown below:Central Bank Balance SheetAssets LiabilitiesForeign assets $1,000 Deposits held by private banks $500Domestic assets $1,500 Currency in circulation $2,000Please write the new balance sheet if the bank sells $100 worth of foreign bonds for domestic currency. Answer:Central Bank Balance SheetAssets LiabilitiesForeign assets $900 Deposits held by private banks $500Domestic assets $1,500 Currency in circulation $1,9003）If the central bank does not purchase foreign assets when output increases but instead holds the money stock constant, can it still keep the exchange rate fixed at Eo? Please explain with the aid of a figure.Answer:No, the rise in output leads to an excess demand for money. If the central bank does not increase supply to meet this demand, the domestic interest rate would rise above the foreign rate, R*. This higher rate of return (and given expectations in the foreign exchange market) would cause the exchange rate to fall below Eo.4）Under fixed exchange rate, in general,A) the domestic and foreign interest rates are equal, R = R .B) R = R+ (Ee - E)/E.C) There is no relation between the fixed exchange rate and the interest rates both foreign and domestic.D) E is equal to one.E) None of the above.Answer: A5) A balance of payments crisis is best described asA) a sharp change in interest rates sparked by a change in expectations about the level of imports.B) a sharp change in foreign reserves sparked by a change in expectations about the future exchange rate.C) a sharp change in interest rates sparked by a change in expectations about the level of exports.D) a sharp change in foreign reserves sparked by a change in expectations about the level of imports.E) None of the above.Answer: B6) Use a figure to illustrate the ineffectiveness of monetary policy to spur on an economy under a fixed exchange rate.Answer:The initial equilibrium rests at point 1. If the central bank wishes to use monetary policy to increase output from Y1 to Y2, then they might buy domestic assets and shift the AA curve outward. However, the central bank must maintain a fixed exchange rate E0, so would have to sell foreign assets for domestic currency, returning the economy to point 1.7）Use a figure to explain the potential effectiveness of fiscal policy to spur on the economy under a fixed exchange rate.Answer:With an aim toward increasing output, the government could use fiscal policy to shift the DD curve outward. The central bank will have to take steps to maintain a fixed exchange rate E0, among the options is buying foreign assets with money, to shift the AA schedule outward until the equilibrium at point 3 is reached。
《国际经济学》课程教学大纲
CHAPTER 2 LABOR PRODUCTIVITY AND COMPARATIVE ADVANTAGE: THE RICARDIAN MODEL
（1）Examining by labor demand curve （2）Examining by production possibility curve （3）Relative demand and relative supply (ⅳ)Relative Prices and the Distribution of Income Ⅱ.International Trade in the Specific Factors Model (ⅰ)Resources and Relative Supply 1．Assumption 2．Change in resource and relative supply 3．RS for 2 countries (ⅱ)Trade and Relative Prices (ⅲ)The Pattern of Trade 1．Budget constraint 2．The pattern of Trade (ⅳ)Income Distribution and the Gains From Trade 1．The effects of trade on particular groups In general, trade benefits the factor that is specific to the export sector of each country but hurts the factor specific to the import-competing sectors, with ambiguous effects on mobile factors.
Int'l Economics
Slide 1-4
1.2 Int‘l Trade and the Nation‘s Standard of Living
• With the global integration, the economic relationship
among nations is more interdependent.
– Currency fluctuations – National default
Slide 1-13
1.4 Organization of the Text
• int‘l economics deals with int‘l trade theory, int‘l
trade policy (microeconomic aspects of int‘l economics), foreign exchange markets and the balance of payments, and open economy macroeconomics (macroeconomic aspects of int‘l
– Climate and resources determine the trade pattern of several goods. – In manufacturing and services the pattern of trade is more subtle. – There are two types of trade:
Slide 1-14
– Foreign exchange markets are the framework for the exchange of a nation‘s currency for another – The balance of payments measures a nation‘s total receipts from and the total payments to the rest of the world
国际经济学英文课件萨尔瓦多第十版ch01
也就是说，两个国家GDP越大、距离越近， 则预期两国贸易额越大
Salvatore: International Economics, 10th Edition © 2024 John Wiley & Sons, Inc.
A globalizing world provides opportunities and challenges to nations and people in the world. 世界正在迅速全球化，这给全世界的国家和人 民带来了很多机遇，也带了巨大的挑战。
Flow of goods and services Flow of labor and jobs Flow of financial instruments, currency
大多数国家积极参与
Salvatore: International Economics, 10th Edition © 2024 John Wiley & Sons, Inc.
The Globalization of the World Economy
Anti-Globalization Movement 反全球化运动
Salvatore: International Economics, 10th Edition © 2024 John Wiley & Sons, Inc.
Much larger for smaller industrial and developing countries than for United States
International Trade and the Nation’s Standard of Living
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Ch 6 Nontariff Trade Barriers
Ch 7 Trade Regulations and Industrial Policies
Ch 8 Trade Policies for the Developing Nations
Ch 9 Regional Trading Arrangements
Waves of Globalization
1st wave: 1870-1914
▪ Falling tariff barriers ▪ improved transportation
2nd wave: 1945-1980
▪ Agreements to lower barriers again ▪ Rich country trade specialization ▪ Poor nations left behind
Business: multinational corporations, global production
8
Economic interdependence
Forces driving globalization
Technological change:
▪ Production ▪ Communication & information ▪ Transport
3rd wave: 1980-present
▪ Growth of emerging markets ▪ international capital movements regain importance
10
Economicds and services as percent of Gross Domestic Product, 2001
Liberalization of trade & investment:
▪ Tariff, non-tariff barrier reductions ▪ Liberalized financial transactions ▪ International financial markets
9
Economic interdependence
Ch 10 International Factor Movements and Multinational Enterprises
Ch 11 The Balance of Payments
Ch 12 Foreign Exchange
Ch 13 Exchange-Rate Determination
个人简介
闫大卫 Email:yandw@ 个人主页
/teacher/yandw/world. htm
1
International Economics
By Robert J. Carbaugh 9th Edition
作 者： [美]凯伯 著，原毅军等 译 出 版 社： 机械工业出版社 出版时间： 2002-10-1 字 数： 版 次： 1 页 数： 484 印刷时间： 2003-3-1 开 本： 印 次： 纸 张： 胶版纸 I S B N ： 9787111107989
Ch 14 Balance-of-Payments Adjustments Under Fixed Exchange Rates
Ch 15 Exchange-Rate Adjustments and the Balance of Payments
Ch 16 Exchange-Rate Systems
Chapter 1: The International Economy
Economic interdependence
Elements of interdependence
Trade: goods, services, raw materials, energy
Finance: foreign debt, foreign investment, exchange rates
62% 30 41 39 34 27 30 30 14 10
11
Economic interdependence
Leading trading partners of the United States,
2000
Country
Exports (% of GDP)
Netherlands Norway South Korea Canada Germany France United Kingdom Mexico United States Japan
68% 48 46 45 35 29 28 28 11 11
Imports (% of GDP)
团之间的分配？我们能不能具体确定哪些集团从贸 易中受益，哪些集团从贸易中受损？
5
Ch 1 The International Economy Ch 2 Foundations of Modern
Trade Theory
Ch 3 International Equilibrium
Ch 4 Trade Model Extensions and Applications
Ch 17 Macroeconomic Policy in an Open Economy
Ch18 International Banking: Reserves, Debt and Risk
International Economics
By Robert J. Carbaugh 9th Edition
3
国际经济学简介
国际贸易理论 国际金融
4
国际贸易理论要回答的问题
1.各国间为什么要进行国际贸易？更准确地说，到 底是什么决定了一国出口某种产品，而又进口某种 产品？
2.贸易究竟会如何影响各国的生产和消费？ 3.贸易会如何影响各国的福利水平？或者说，我们
如何判断一国从贸易中受益或受损？ 4.贸易如何影响经济福利或收入在一国之内不同集