教学课件·国际贸易专业英语(第四版)1.ppt
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- 教学 课件 国际贸易 专业 英语 第四
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1、Unit One International Trade TheoriesPre-reading questions:nWhat is international trade about?nWhat are the incentives for countries to engage in international trade?nWhat theories on international trade have you studied?nWhich theories do you think best explain the nature of international trade?nIn
2、 what way have these theories helped you understand international trade?Mercantilism international trade is a zero sum game,i.e.that the benefit which one country gains from international trade means a corresponding detriment to another country.The Absolute Cost Model a country has the lowest produc
3、tion costs and supplies foreign markets,too,as a result.Example:say Turkey and Greece have the same average wage levelThe Comparative Cost Model The comparative cost model is based on two countries,two products and one factor of production:labor.Technical know-how or the state of technology is diffe
4、rent in the two countries.There are also constant returns to scale and perfect competition.The Heckscher-Ohlin-Samuelson(HOS)Model This model was also based on the comparative cost concept and the idea that competitive positions depend on the supply conditions in specific locations and are therefore
5、 linked to countries(rather than companies).The Leontief Paradox Empirical research conducted by Leontief quite soon after the Second World War showed that the specialization process in the US,for example,did not correspond to what HOS predicted(and this was repeatedly found in later research).Where
6、 free trade ought to have caused the Americans to concentrate increasingly on producing relatively capital-intensive goods the goods in which the US had a comparative advantage this did not appear to be what happened in practice;the US imported relatively capital-intensive goods instead of exporting
7、 them.Factor Intensity Reversal A fundamental criticism of the HOS model was that it assumes that the sectors can be arranged in order of capital-intensity and that this arrangement is universal,i.e.the same in all countries.This does not appear to be so in reality:for example,where the agricultural
8、 sector in the industrialized countries often has above average capital-intensity,in the developing countries it is often highly labor-intensive in comparison with other sectors in those countries.Such a phenomenon is known in theory as factor intensity reversal.Modern Trade Theories The new trade t
9、heories focused increasingly on the question:what can we say about the business characteristics of exporting companies as opposed to companies which do not or cannot export?The idea is that it is not so much national factors or,if you like,locational factors that explain in which goods a strong comp
10、etitive position can be developed,but rather factors relating to specific sectors or companies.Another important difference in relation to traditional trade theories is that modern trade theories abandon the assumption of constant returns to scale and replace it with the concept of economies of scal
11、e in production.For example,this may mean that as a company produces on a larger scale,average costs fall(internal economies of scale),but also that costs will decline if numerous other businesses are established in the vicinity(external economies of scale),or both.Key Terms interest rate The fee ch
12、arged by a lender to a borrower for the use of borrowed money,usually expressed as an annual percentage of the principal;the rate is dependent upon the time value of money,the credit risk of the borrower and the inflation rate.Interest rates can be calculated as simple,compounded or effective.divisi
13、on of labor The increasing specialization of occupations and specific tasks within occupations.The Division of Labor becomes more evident with increasing industrialism and modernity in societies.absolute advantage Term coined,and theory developed by Adam Smith in The Wealth of Nations(1776).If count
14、ry A can produce and export more of a commodity X at a cheaper cost or more efficiently the country B,then country A has an absolute advantage in producing X over country B.free trade Free trade exists when the international exchange of goods is neither restricted nor encouraged by government-impose
15、d trade barriers.Subsequently,the determination of the distribution and level of international trade is left to the operation of market forcescomparative advantage The theory of comparative advantage is a key idea in classical Liberal economic theory put forward by David Ricardo.It posits that if al
16、l countries specialize in producing what that are comparatively best at-i.e.what they are most efficient at producing-and then trade freely with one another,then the world will be better off economically.opportunity cost The cost of using a resource in one enterprise when it could be used in alterna
17、tive enterprises or investment opportunities measured by the return that could be obtained from using the resource in the alternative in investment.For example,if cash used in crop production could be placed in the bank at a 10%rate of interest,the opportunity cost of cash to the crop would be 10%.g
18、eneral equilibrium The condition reached when all markets(for products and productive factors)have cleared,that is,established equilibrium prices and quantities.factor of production A human service or material good that can be used to contribute to the success of a process of production.A constituen
19、t element of any production process.Factors of production can be classified as to(1)human(labor)or nonhuman(material)factors,or(2)original or produced factors.economy of scale the reduction in costs per item(unit costs)that results from large-scale production.The high capital costs of machinery or a
20、 factory are spread across a greater number of units as more are produced.This may be a result of automation or mass production;for example,in the car industry.Economies of scale can also be produced when firms that need similar services locate together,sharing the costs of their services;for exampl
21、e,on industrial estates.factor intensity The relative importance of one factor versus others in production in an industry,usually compared across industries.Most commonly defined in by ratios of factor quantities employed at common factor prices,but sometimes by factor shares or by marginal rates of
22、 substitution between factors.factor intensity reversal A property of the technologies for two industries such that their ordering of relative factor intensities is different at different factor prices.For example,one industry may be relatively capital intensive compared to the other at high relativ
23、e wages and labor intensive at low relative wages.Some propositions of the Heckscher-Ohlin Model require the absence of FIRs.Post-Reading ActivitiesI.Answer the following questions based on what you have already read in the text.1.On what grounds did Hume,Smith and Ricardo criticize the conception o
24、f Mercantilism?Do you agree with them?2.According to David Smith,nations should allow free trade and abolish government intervention,would you agree with him?3.In what aspect is HOS model different from the Ricardo model?4.What problem is the Leontief Paradox about?5.What is the fundamental criticis
25、m of the HOS model?6.What problems do modern international trade theories deal with?V.Translate the following passage into Chinese.1.Economic globalization is a historical process,the result of human innovation and technological progress.It refers to the increasing integration of economies around th
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