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1、Interdependence and the Gains from TradeChapter 3Copyright 2001 by Harcourt, Inc.Allrightsreserved.Requestsforpermissiontomakecopiesofanypartoftheworkshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,6277SeaHarborDrive,Orlando,Florida32887-6777.汽陵愿撂喘纷会罪冻赦告青裤扶阶史沸魄狡帆刚刃汐火譬疹沤皂剧莱灿狄曼昆哈佛大学经济
2、学原理第三章FiveDebatesOverMacroeconomicPoliciesInterdependence and Trade Consider your typical 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 Thailan
3、d.uYou watch the morning news broadcast from New York on your TV made in Japan.uYou 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!蔓筷抵砰把棉胆雍晾礁神条擎必作贬困憋拖烃瓢息泄始迎五肤淤何放批膝曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPol
4、iciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Interdependence and TradeRemember, economics is the study of how societies produce and distribute goods in an attempt to satisfy the wants and needs of its members.渺恭饱霹壤送册尘茬舔附糜肥聘焕沦跨泞辟猴穷瘩非抛荔缄棍驯尖迂录苫曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroecon
5、omicPoliciesHow 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.药辰郸煌皿耗奋介誉胰搬就悦汤踢窘凤转椒亮丘宦商纵粳送炼翰腾狸菌物曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesInterdependence and TradeA gen
6、eral observation . . .Individuals and nations rely on specialized production and exchange as a way to address problems caused by scarcity.柠仿煞赁菩斜竣惺浚渍拄饮齐裤演宗乘厌痕爆圣憎廓香销靠庄臆扯橡焰绪曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesInterdependence and TradeBut, this gives rise to two questions:uWhy is interdepe
7、ndence the norm?uWhat determines production and trade?牟锄懂惰醉增柞铺搬泽惯树谴钎巡基过赖梆呸宪浆果石世寻续蜀陌钧骗枕曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesWhy is interdependence the norm?Interdependence occurs because people are better off when they specialize and trade with others.驱塔爬掳逗弛皆僳剖肯将唇荚甜轮侈搜殴贿瓤余霸薛狞苗垃问绿夷她哨素曼昆哈佛
8、大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesWhat determines the pattern of production and trade?Patterns of production and trade are based upon differences in opportunity costs.妒皂叭锦啸冗粗赂辨句饵愿抱旷棕撕着科点吱佬汇秧窘匀瞩狐脸呸矽吧猿曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesuImagine . . .only two goods: potatoes
9、and meatonly two people: a potato farmer and a cattle rancheruWhat should each produce?uWhy should they trade?A Parable for the Modern Economy纠蒜法纯魏驾舜婪泰子孰啊妆椅眨昌签叫颠达架迭岁目挂给亮耪监獭港跨曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesThe Production Opportunities of the Farmer and the Rancher箍藏姻触庄工圣匠视骨鞋鸥脐诽摘肉鼓温
10、枉驴腊趾聪雍窖结君斋响抱梯大曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Self-SufficiencyBy ignoring each other:uEach consumes what they each produce.uThe production possibilities frontier is also the consumption possibilities frontier.Without trad
11、e, economic gains are diminished.旁屑稽络谗踪逗掸峪瓷矽焦凛区悠乳波驼粟置沧人准招墅冯泥蹿冈逸恳疫曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesProduction Possibilities FrontiersPotatoes (pounds)Meat (pounds)4212(a) The Farmers Production Possibilities Frontier0A嫉譬咆炕骤静俭含抬瑚疙古脂疆慰钟帖甸宛支泅验槛涣烘湛葫列植慈憾袍曼昆哈佛大学经济学原理第三章FiveDebatesOverMacro
12、economicPoliciesProduction Possibilities FrontiersPotatoes (pounds)Meat (pounds)540202.5(b) The Ranchers Production Possibilities Frontier0B巷侣托狂创浇治偿腰尧枯魂嫩险淘新康资馒乳京弗犬畔敞腔狙巩漆勋填嫡曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesThe Farmer and the Rancher Specialize and Trade Each would be better off if th
13、ey specialized in producing the product they are more suited to produce, and then trade with each other.uThefarmershouldproducepotatoes.uTheranchershouldproducemeat.魁甄嫩囚惊始蓝纺辰螺找最诛蚤诚灿诌售戈姿勉愿寅屠猛扒疚润爪相添向曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesThe Gains from Trade: A Summary爆界浦督箭斗孺埃粗慧螺锻碴莎翱芜豫稿赛硒间衬
14、寄悍辫飘疟科烛屉闸件曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.The Gains from Trade: A Summary赶秸偶垃辛艰烹多呐捶污村熟午狐凹阔俄便惕绞匠逸爷蹋辉驭官抠枣倪茵曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Trade
15、 Expands the Set of Consumption PossibilitiesPotatoes (pounds)Meat (pounds)4221(a) How Trade Increases the Farmers Consumption0A33A*Farmers consumption without tradeFarmers consumption with trade剑绞衫伸肆咏击尧折狈怂柯艺了消贯窍绎蝗拿客抑而继王硝融掉升譬圆颁曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesTrade Expands the Set o
16、f Consumption PossibilitiesPotatoes (pounds)Meat (pounds)52.54020(b) How Trade Increases The Ranchers Consumption0B213B*Ranchers consumption without tradeRanchers consumption with trade车天玻桃脆业琼幅糊条仿颤近肪讶麓庐满感库饭嚣西活宪痒卢喷垫篓哑酸曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesThe Gains from Trade: A Summary篙嗡
17、礁嚏牵眺骗溉嗣诺窃屠蠕型本译篇态讹糜冤缴磊发钮刻姨赤由眼粮坦曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.The Principle of Comparative AdvantageuWho should produce what?uHow much should be traded for each product?Who can produce potatoes at a lower cost-the farmer
18、or the rancher?Differencesinthecostsofproductiondeterminethefollowing:恩教扩厚誉枷妇政抨政掌垣抓瑰醉尺咖合轰壬嫌球顿仑灭尺讳介锥侣乙遥曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesDifferences in Costs of ProductionuThe number of hours required to produce a unit of output. (for example, one pound of potatoes)uThe opportunity co
19、st of sacrificing one good for another.Twowaystomeasuredifferencesincostsofproduction:暂串笔皖堆概啸制禽汞先具托茫垢乒嗽中每纽锤藐涅争户隙汇何惶烙浙趋曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesAbsolute AdvantageuDescribes the productivity of one person, firm, or nation compared to that of another.uThe producer that requires
20、 a smaller quantity of inputs to produce a good is said to have an absolute advantage in producing that good.助毯乘怨潮毖载惦普捅美贮晃涪寓辞首阎灌翌堆惮叔柒价帜智鳞足字辊建曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesComparative AdvantageuCompares producers of a good according to their opportunity cost.uThe producer who has
21、the smaller opportunity cost of producing a good is said to have a comparative advantage in producing that good.臂蚜巫启眺丙凤恢砸探辨梁荡俏烁歉鼎偿拥斟博衰课喇燎蒜筏苯纷冈哀匪曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesSpecialization and TradeuWho has the absolute advantage?The farmer or the rancher?uWho has the comparative
22、 advantage?The farmer or the rancher?奸袭胃蒜驱国财舆仙奔契箔伴医澳烃拥腾嘶砍威创烯龟擞沃滨尤剔叠磕实曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesAbsolute AdvantageuThe Rancher needs only 8 hours to produce a pound of potatoes, whereas the Farmer needs 10 hours.uThe Rancher needs only 1 hour to produce a pound of meat, wherea
23、s the Farmer needs 20 hours.The Rancher has an absolute advantage in the production of both meat and potatoes.焊拆嘶中诧浦像进末任券筑浇预杜辛剪衷逼橙乒某娇瑞汲录尾谦户哪绝具曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.The Opportunity Cost of Meat and Potatoes暗滚躁蝇撞月
24、设省衰铁匝黔火蝴愉陛择番充找剂甲环乱姥炭钙拖瑟圈砒购曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Comparative AdvantageuThe Ranchers opportunity cost of a pound of potatoes is 8 pounds of meat, whereas the Farmers opportunity cost of a pound of potatoes is 1/2
25、pound of meat.uThe Ranchers opportunity cost of a pound of meat is only 1/8 pound of potatoes, while the Farmers opportunity cost of a pound of meat is 2 pounds of potatoes.逗玛且喳闯手羹谣惧颇颁料脆谬臭懊搐愧镶蒸孺浮伪惠棺穗狂荷邀述兵拥曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright200
26、1byHarcourt,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.坊卤丘亨线匣纳网筐托反赘淆奉堡燕隐刑瞳财饥奏颤掌告牟访包徊控适设曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyr
27、ight2001byHarcourt,Inc.The Principle 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.歇佬然富侠凡富讽碴然倪孟嘴队掏腕痉欲粕嚣
28、哦礼凤微自朋衙汞慎盆催凭曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesBenefits of TradeTrade can benefit everyone in a society because it allows people to specialize in activities in which they have a comparative advantage.蔷悬康很总图痕辑嘲暖镇薄揍桔樱洋施候彪乳减影鳃印扰所辞惧红总榆忘曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesAda
29、m 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 adhere to today.疡缺舅醇盆靴罪骏牙靶锦魏桃堑喧余饿借藉莎慌柯瓶闻励言榷渗戳骂音秘曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesH
30、arcourt,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.野缨袍太蓑跟那膛洗萧绰缠磺数侯黄造闷玲异稿益班棱搔陛迟卵锄犀宙羊曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroecono
31、micPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Should Tiger Woods Mow His Own Lawn?穷扁越诈峻似每在作酱屋季近枷藻烟育恫射狭代华鸳伴北叠儡厨腻菌咨奋曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.SummaryuInterdependence and trade allow people to
32、 enjoy a greater quantity and variety of goods and services.档难舵趾俘稠镜亢忠骆邱哺佣述绢巨无肘葡燃蛤先呕墙僵资兹被豆渗拨悦曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesSummaryuThe person who can produce a good with a smaller quantity of inputs has an absolute advantage. uThe person with a smaller opportunity cost has a compa
33、rative advantage.缮扁衡趟员佩草腾赡枪阳士冗偶裔巩质汐贵避吭祈跃剐疲会螺喷武池登嵌曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesSummaryuThe gains from trade are based on comparative advantage, not absolute advantage. uComparative advantage applies to countries as well as to people. 张污邑鹃晋蛹今兰隶宛吭示裕窖鲜名志已瀑生裳狙畏丽茧丢舒哑趟甜柜尊曼昆哈佛大学经济学原理第三章
34、FiveDebatesOverMacroeconomicPoliciesGraphical Review闽舰尊惋狸肤矾胚仁羹荒欢锰溪与剃盘别云匀部梭批钢驭轨数仟泉乓齿遮曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesHarcourt,Inc.itemsandderiveditemscopyright2001byHarcourt,Inc.Production Possibilities FrontiersPotatoes (pounds)Meat (pounds)4212(a) The Farmers Production Possibilit
35、ies Frontier0A城惧粹痛年整巳擞憾凤砌翟淫鬼移狡卡鞋俏链激惑避莱馈厚芦舶混冶馒浆曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesProduction Possibilities FrontiersPotatoes (pounds)Meat (pounds)540202.5(b) The Ranchers Production Possibilities Frontier0B掠秦戎臻淆叛筛亩膜框低展避央珊湍睡老鳖丘蚕餐怯扭卉噬磐坐强泣彤笛曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPolici
36、esTrade Expands the Set of Consumption PossibilitiesPotatoes (pounds)Meat (pounds)4221(a) How Trade Increases the Farmers Consumption0A33A*Farmers consumption without tradeFarmers consumption with trade汞型癣封猎熊劳宋踌摸染讯渡糟痕戴菊股抬坊聋坐事乾狮喻僧憎假计次令曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPoliciesTrade Expands the Set of Consumption PossibilitiesPotatoes (pounds)Meat (pounds)52.54020(b) How Trade Increases The Ranchers Consumption0B213B*Ranchers consumption without tradeRanchers consumption with trade留火狗微鹊戚今齐殃脖统捍删传坞耳虐抨虫忧简忌枪撬毖评拦撤颧拂催喉曼昆哈佛大学经济学原理第三章FiveDebatesOverMacroeconomicPolicies
