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1、3,Interdependence and the Gains from Trade,Consider your typical day: You wake up to an alarm clock made in Korea. You pour yourself orange juice made from Florida oranges and coffee from beans grown in Brazil. You put on some clothes made of cotton grown in Georgia and sewn in factories in Thailand
2、. You watch the morning news broadcast from New York on your TV made in Japan. You drive to class in a car made of parts manufactured in a half-dozen different countries.,Interdependence and the Gains from Trade,Remember, economics is the study of how societies produce and distribute goods in an att
3、empt to satisfy the wants and needs of its members.,Interdependence and the Gains from Trade,How do we satisfy our wants and needs in a global economy? We can be economically self-sufficient. We can specialize and trade with others, leading to economic interdependence.,Interdependence and the Gains
4、from Trade,Individuals and nations rely on specialized production and exchange as a way to address problems caused by scarcity. But this gives rise to two questions: Why is interdependence the norm? What determines production and trade?,Interdependence and the Gains from Trade,Why is interdependence
5、 the norm? Interdependence occurs because people are better off when they specialize and trade with others. What determines the pattern of production and trade? Patterns of production and trade are based upon differences in opportunity costs.,A PARABLE FOR THE MODERN ECONOMY,Imagine . . . only two g
6、oods: potatoes and meat,only two people: a potato farmer and a cattle rancher What should each produce? Why should they trade?,Table 1 The Production Opportunities of the Farmer and Rancher,Copyright 2004 South-Western,Production Possibilities,Self-Sufficiency By ignoring each other: Each consumes w
7、hat they each produce. The production possibilities frontier is also the consumption possibilities frontier. Without trade, economic gains are diminished.,Figure 1 The Production Possibilities Curve,Potatoes (ounces),0,Meat (ounces),(a) The Farmer,s Production Possibilities Frontier,Copyright2003 So
8、uthwestern/Thomson Learning,Figure 1 The Production Possibilities Curve,Copyright2003 Southwestern/Thomson Learning,Potatoes (ounces),0,Meat (ounces),(b) The Rancher,s Production Possibilities Frontier,The farmer should produce potatoes. The rancher should produce meat.,Specialization and Trade,The
9、Farmer and the Rancher Specialize and Trade Each would be better off if they specialized in producing the product they are more suited to produce, and then trade with each other.,Table 2 The Gains from Trade: A Summary,Copyright 2004 South-Western,Figure 2 How Trade Expands the Set of Consumption Op
10、portunities,Copyright2003 Southwestern/Thomson Learning,Potatoes (ounces),0,Meat (ounces),(a) The Farmer,s Production and Consumption,Figure 2 How Trade Expands the Set of Consumption Opportunities,Copyright 2004 South-Western,Potatoes (ounces),0,Meat (ounces),(b) The Rancher,s Production and Consum
11、ption,Table 2 The Gains from Trade: A Summary,Copyright 2004 South-Western,主动学习 贸易条件下的消费,美国每个月有50，000个小时的劳动能用在生产上 生产1台电脑需要100个小时的劳动 生产1吨小麦需要10个小时的劳动 日本每个月有30，000个小时的劳动能用在生产上 生产1台电脑需要125个小时的劳动 生产1吨小麦需要25个小时的劳动,0,不存在贸易： 美国的消费者总共消费250台电脑和2500吨小麦 日本的消费者总共消费120台电脑和600吨小麦 贸易条件下 1.假设美国生产3400吨小麦，那剩余的劳动时间还能生
12、产多少电脑？在美国的生产可能性曲线上标出该点 2. 假设日本生产240台电脑，那剩余的劳动时间还能生产多少小麦？在日本的生产可能性曲线上标出该点,主动学习 贸易条件下的消费,19,最终在美国电脑和小麦分别消费多少？在美国的生产可能性曲线上标出该点 最终在日本电脑和小麦分别消费多少？在日本的生产可能性曲线上标出该点,假设美国出口700吨小麦到日本，并从日本进口110台电脑（这也意味着日本进口700吨小麦，出口110台电脑）,贸易使两个国家都更好,贸易的利益,有贸易时的消费,没有贸易时的消费,美国,0,Who can produce potatoes at a lower cost-the far
13、mer or the rancher?,THE PRINCIPLE OF COMPARATIVE ADVANTAGE,Differences in the costs of production determine the following: Who should produce what? How much should be traded for each product?,THE PRINCIPLE OF COMPARATIVE ADVANTAGE,Differences in Costs of Production Two ways to measure differences in
14、 costs of production: The number of hours required to produce a unit of output (for example, one pound of potatoes). The opportunity cost of sacrificing one good for another.,Absolute Advantage,The comparison among producers of a good according to their productivityabsolute advantage Describes the p
15、roductivity of one person, firm, or nation compared to that of another. The producer that requires a smaller quantity of inputs to produce a good is said to have an absolute advantage in producing that good.,The Rancher has an absolute advantage in the production of both meat and potatoes.,Absolute
16、Advantage,The Rancher needs only 10 minutes to produce an ounce of potatoes, whereas the Farmer needs 15 minutes. The Rancher needs only 20 minutes to produce an ounce of meat, whereas the Farmer needs 60 minutes.,Opportunity Cost and Comparative Advantage,Compares producers of a good according to their opportunity cost. Whatever must be given up to obtain some item The producer who has
