国际贸易学期末考试重点.pptVIP

Chapter 3 The Standard Theory of International Trade 3.1 Introduction We will extend our simple trade model to the more realistic case of increasing opportunity cost. Tastes or demand preferences are introduced with community indifference curves. Then with the forces of demand and supply we will see how the equilibrium-relative commodity price in each nation is determined in the autarky How mutually beneficial trade will take place between the two nations in case of increasing opportunity cost. The last section shows how mutually beneficial trade is possible when two nations are exactly alike except for tastes under increasing cost conditions. 3.2 The Production Frontier with Increasing Costs(成本递增条件下的生产可能性曲线） Increasing opportunity costs mean that the nation must give up more and more of one commodity to release just enough resources to produce each additional unit of another commodity. Increasing opportunity costs results in a production frontier that is concave from the origin(rather than a straight line) 3.2 Illustration of Increasing Costs 3.2B The Marginal Rate of Transformation(边际转换率） The marginal rate of transformation (MRT)of X for Y refers to the amount of Y that a nation must give up to produce each additional unit of X. MRT is another name of opportunity cost of X and is given by the slope of the production frontier at the point of production. 3.2.C Reasons for Increasing Opportunity Costs and Different Production Frontiers.(机会成本递增以及生产可能性曲线差异的原因） Increasing opportunity costs arise because resources or factors of production (1)are not homogeneous (2) are not used in the same fixed proportion or intensity in the production of all commodities. The difference in the production frontiers of Nation 1 and Nation 2 is due to the fact that the two nations have different factor endowment or resources at their disposal and or use different technologies in production. 3.3 Community I