曼昆微观经济学 第三章fmrs.pptx

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1、Interdependence and the Gains from TradeChapter 3Copyright 2001 by Harcourt,Inc.Allrightsreserved.Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.Interdependence and Trade Consider your t

2、ypical day:uYou wake up to an alarm clock made in Korea.uYou pour yourself some orange juice made from oranges grown in Florida.uYou put on some clothes made of cotton grown in Georgia and sewn in factories in Thailand.uYou watch the morning news broadcast from New York on your TV made in Japan.uYou

3、 drive to class in a car made of parts manufactured in a half-dozen different countries.and you havent been up for more than two hours yet!Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Interdependence and TradeRemember,economics is the study of how societies produce and distribute goo

4、ds in an attempt to satisfy the wants and needs of its members.How do we satisfy our wants and needs in a global economy?uWe can be economically self-sufficient.uWe can specialize and trade with others,leading to economic interdependence.Interdependence and TradeA general observation.Individuals and

5、 nations rely on specialized production and exchange as a way to address problems caused by scarcity.Why is interdependence the norm?Interdependence occurs because people are better off when they specialize and trade with others.uImagine.only two goods:potatoes and meatonly two people:a potato farme

6、r and a cattle rancherA Parable for the Modern EconomyThe Production Opportunities of the Farmer and the RancherHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Production Possibilities FrontiersPotatoes(ounces)Meat(ounces)328416(a)The Farmers Production Possibilities Frontier0AIf there

7、is no trade,the farmer chooses this production and consumptionProduction Possibilities FrontiersPotatoes(ounces)Meat(ounces)481224(b)The Ranchers Production Possibilities Frontier0BIf there is no trade,the rancher chooses this production and consumption24The Gains from Trade:A SummaryHarcourt,Inc.it

8、emsandderiveditemscopyright2001byHarcourt,Inc.The Gains from Trade:A SummaryHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.How Trade Expands the Set of Consumption OpportunitiesCopyright2003 Southwestern/Thomson LearningPotatoes(ounces)416517832AA*0Meat(ounces)(a)The Farmers Production

9、 and ConsumptionFarmers production and consumption without tradeFarmers consumption with tradeFarmers production with tradeHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.How Trade Expands the Set of Consumption OpportunitiesPotatoes(ounces)12241327B0Meat(ounces)(b)The Ranchers Producti

10、on and Consumption48241218B*Ranchers consumption with tradeRanchers production with tradeRanchers production and consumption without tradeHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.The Gains from Trade:A SummaryHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Difference

11、s in Costs of ProductionuThe number of hours required to produce a unit of output.(for example,one pound of potatoes)uThe opportunity cost of sacrificing one good for another.Twowaystomeasuredifferencesincostsofproduction:Absolute AdvantageuDescribes the productivity of one person,firm,or nation com

12、pared to that of another.uThe producer that requires a smaller quantity of inputs to produce a good is said to have an absolute advantage in producing that good.Absolute AdvantageuThe Rancher needs only 10 minutes to produce a pound of potatoes,whereas the Farmer needs 15 minutes.uThe Rancher needs

13、only 20 minutes to produce a pound of meat,whereas the Farmer needs 60 minutes.The Rancher has an absolute advantage in the production of both meat and potatoes.Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Comparative AdvantageuCompares producers of a good according to their opportun

14、ity cost.uThe producer who has the smaller opportunity cost of producing a good is said to have a comparative advantage in producing that good.The Opportunity Cost of Meat and PotatoesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Comparative Advantage and TradeuThe Ranchers opportunit

15、y cost of an ounce of potatoes is 1/2 ounce of meat,whereas the Farmers opportunity cost of an ounce of potatoes is 1/4 an ounce of meat.uThe Ranchers opportunity cost of an ounce of meat is only 2 ounces pound of potatoes,while the Farmers opportunity cost of an ounce of meat is 4 ounces of potatoe

16、s.Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Comparative Advantageso,the Rancher has a comparative advantage in the production of meat but the Farmer has a comparative advantage in the production of potatoes.Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.The Principle

17、 of Comparative AdvantageuComparative advantage and differences in opportunity costs are the basis for specialized production and trade.uWhenever potential trading parties have differences in opportunity costs,they can each benefit from trade.Benefits of TradeTrade can benefit everyone in a society

18、because it allows people to specialize in activities in which they have a comparative advantage.Adam Smith and TradeIn his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations,Adam Smith performed a detailed analysis of trade and economic interdependence,which economists still ad

19、here to today.Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.David Ricardo and TradeIn his 1816 book Principles of Political Economy and Taxation,David Ricardo developed the principle of comparative advantage as we know it today.Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,

20、Inc.Should Tiger Woods Mow His Own Lawn?Harcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.APPLICATIONS OF COMPARATIVE ADVANTAGE nShould the United States Trade with Other Countries?nEach country has many citizens with different interests.International trade can make some individuals worse

21、 off,even as it makes the country as a whole better off.Importsgoods produced abroad and sold domesticallyExportsgoods produced domestically and sold abroadHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.SummaryuInterdependence and trade allow people to enjoy a greater quantity and vari

22、ety of goods and services.SummaryuThere are two ways to compare the ability of two people producing a good.The person who can produce a good with a smaller quantity of inputs has an absolute advantage.The person with a smaller opportunity cost has a comparative advantage.uThe gains from trade are based on comparative advantage,not absolute advantage.SummaryuTrade makes everyone better off because it allows people to specialize in those activities in which they have a comparative advantage.uComparative advantage applies to countries as well as to people.