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1、Chapter 6 Economies of scale、imperfect competition and trade(New International Trade Theory )1Chapter6双语国贸学6章规模经济课件Contents1. Introduction2.Economiesofscaleandmarketstructure3.Intra-industrytrade4.SummaryChapter6双语国贸学6章规模经济课件PartI.Introduction 1. Thebackgroundoftheemergenceanddevelopmentofnewinterna
2、tionaltradetheory 2. ThefocusofNewinternationaltradetheory 3. TherelationshipbetweenNewinternationaltradetheoryandtraditionaltradetheory Chapter6双语国贸学6章规模经济课件PartI.Introduction1.ThebackgroundoftheemergenceanddevelopmentofnewinternationaltradetheoryTraditionaltheoriescouldnotexplainthedynamiceconomie
3、sintherealworld.Chapter6双语国贸学6章规模经济课件(1)Based on Classical trade theory, the trade pattern among countries is as follows: labor abundant countriesexport labor- intensive products capital abundant countries export capital-intensive products inter-industry tradeChapter6双语国贸学6章规模经济课件Trade share of deve
4、loped countries (1970s-80s) (%)DCs19701987USA55.161.0Japan32.828.0Germany59.766.4France78.183.8England64.380.0Italy61.063.9Canada62.471.6Average56.865.3Intra-Industry tradeChapter6双语国贸学6章规模经济课件Export and import among developed countries(1999)X to DCs (%)M from DCs (%)USA5753England7773Canada9584Japa
5、n5444Germany7673France7981Total7368Chapter6双语国贸学6章规模经济课件Intra-industry trade inter-industry trade Intra-industrytradeamongdevelopedcountriesexceededinter-industrytradebetweendevelopedanddevelopingcountries After the 1960s, the “North-North TradeNorth-South TradeTheabovesituationwasunabletobeexplaine
6、dbyClassical/neo-classicaltradetheoryChapter6双语国贸学6章规模经济课件 (2) One of assumptions of classical trade theory is that there is Perfectcompetitioninallmarkets.Perfectcompetition:Producersaremarketpricetakerswithoutdominantpowersandpricecontrol.Chapter6双语国贸学6章规模经济课件GMFrom the 1950s-1970sMarket share: 60
7、%Employee: 618000Annual capital return: 20%Chapter6双语国贸学6章规模经济课件SharesoftheUSMotorbikemarket(the1960s)Harley Davidson, USABSA, UKMoto-Guzzi, ItalyHonda, JapanImperfect competition in marketsChapter6双语国贸学6章规模经济课件International market share: 75%The US market share: 65% Market share in China: 40%Chapter
8、6双语国贸学6章规模经济课件The above cases indicate:Imperfect competition in marketsBig companies are market price setters.Big companies have strong competitive power.Chapter6双语国贸学6章规模经济课件Where does the firms competitive power stem from?Firms competitive powerScale economiesReturns to scale Imperfect competition
9、Intra-industrialtradeChapter6双语国贸学6章规模经济课件2.ThefocusofnewinternationaltradetheoryEconomies of scale (pp.82-84)Imperfect competition (pp.88-94)Intra-Industry Trade(pp.84-88)Chapter6双语国贸学6章规模经济课件3.TherelationshipbetweenNewinternationaltradetheoryandtraditionaltradetheoryDifferencebetweenthetwotheories
10、:(1)Bothofthemexplaineddifferentphenomenonoftrade.Theformerexplainedintra-industrytradebetweendevelopedcountries,whilethelatterfocusedoninter-industrytradebetweenthedevelopedanddevelopingcountriesChapter6双语国贸学6章规模经济课件(2) Theoreticalbasisisdifferent.Theformerisbasedoneconomiesofscaleandimperfectcompe
11、tition,andthelatterreliedonconstantreturnstoscaleandperfectcompetition.Therefore,therelationshipbetweenthemisnotsubstitutes(替代替代)butcomplementary(互补互补).Bothofthemmadecontributiontodevelopthesystemofinternationaltradetheory.Chapter6双语国贸学6章规模经济课件Part II Economiesofscaleandmarketstructure1.Thedefinitio
12、nofeconomiesofscale2.Economiesofscale:(1)Internaleconomiesofscale(2)Externaleconomiesofscale3.Economiesofscaleandmarketstructure(1)marketstructure(2)Internal-monopoly(3)Externalcompetition Chapter6双语国贸学6章规模经济课件1.Thedefinitionofeconomiesofscale(p.83)Withtheexpansionofproductionscale,theoutputperunito
13、ffactorinputwillincrease,andtheaveragecostofproductswilldecline.Chapter6双语国贸学6章规模经济课件Scale economies (pp.82-83)Cost per unit($ per unit)Quantity(thousands per year)25265023752110020AveragecostAverage cost is declining and output increases When production reaches 100000 units.Chapter6双语国贸学6章规模经济课件e.g
14、.: Economies of scale in AutomobileCarsoutput(yearly) 100050000Carscost 40% Carsoutput50000100000Carscost 15%Chapter6双语国贸学6章规模经济课件Economiesofscaleandreturnofscale There are three returns that are associated with economies of scale(increasing returns to scale、 constant returns to scale、 decreasing re
15、turns to scale) If the output per unit of factor input and the average cost of products with the expansion of production scale, it indicates “increasing returns to scale规模报酬递增规模报酬递增Chapter6双语国贸学6章规模经济课件KLRABC-q =100q =300q =60024624 60IncreasingreturnstoscaleChapter6双语国贸学6章规模经济课件K=quantityofcapitali
16、nputL=quantityoflaborinputq=outputR=curveofreturns to scaleA、B、C=theexpansionpointofproductivescaleChapter6双语国贸学6章规模经济课件Before & after economies of scaleOutputFactor input (total)Factor input(per unit)110 hours10 hours5003000 hours 6 hours50000150000 hours 3 hoursPre- After-Chapter6双语国贸学6章规模经济课件 Con
17、stant returns to scale: (p.82) In production scale, the average cost of the product has reached the lowest point, and will not decline because of production increases. This stage is called the “constant returns to scale规模报酬不变.“Chapter6双语国贸学6章规模经济课件e.g.Factor input 1%Output increase 1.30% increasing
18、returns to scaleFactor input 1%Output increase 1% constant returns to scaleChapter6双语国贸学6章规模经济课件Constant returns to scale (p.82)Cost per unit($ per unit)Quantity(thousands per year)25265023752110020AveragecostWhen output levels exceeds 100000 units,the average cost curve shows a flat line(=Constant
19、returns to scale)Output 100Chapter6双语国贸学6章规模经济课件Decreasing returns to scale: When the scale of production continues to expand, the average cost of production does not continue to decline. Because the scale is too large and decreases the efficiency of management and co-operation. This phenomenon is c
20、alled “decreasing returns to scale“规模报酬递减.8/13/202429Chapter6双语国贸学6章规模经济课件e.g. Gelanshi firmMicrowave output (maximize): 12millionDemand of the world market: 15million If the firm expands to produce microwave, it would increase retail cost and management cost. Meanwhile, the quality of goods might d
21、ecrease. If: its output input = decreasing returns to scale(To keep increasing returns to scale ,the firm invested 2billion to air conditioning after 2000)Chapter6双语国贸学6章规模经济课件Output(yearly)Compensation:$ 15million to USA2010Chapter6双语国贸学6章规模经济课件Average costs and economies of scale (long-term )decli
22、neconstantriseEconomiesofscaledecreasingreturnstoscaleLACQcostO32LAC:long-termAveragecostsQ:outputIP:inputQ:outputIP: 1%Q: 1.50%IP: 1%Q: 1%IP: 1%Q: 0.50%Chapter6双语国贸学6章规模经济课件2.Economiesofscale1)Internal economies of scale（.82).The average cost of firms decline with the expansion of production scale
23、of individual firm. IP: 1%Q: 1.50%Chapter6双语国贸学6章规模经济课件Internal economies of scale-ACAC1AC2ACQ1Q2QAC:thefirmsaveragecostofproductionQ:outputAC1:beforeIESAC2:afterIESOutput increases from Q1 to Q2, and average cost decreases from AC1 to AC2.Chapter6双语国贸学6章规模经济课件The standard of economies of scale of f
24、irmProductsOutput(yearly)ProductsOutput(yearly)Ethylene 乙烯30万吨Oil refining 炼油500万吨Car150万辆Video recorder 录像机60万台Electrolytic aluminum 电解铝10万吨Chip 芯片25万片Chapter6双语国贸学6章规模经济课件Auto-Firms Output (yearly, thousand)GMC9000Ford6000Chrysler5000Volkswagen5000PSA3350Toyota4760Honda2340Nissan2100Daewoo3210Mits
25、ubishi1500Chapter6双语国贸学6章规模经济课件VideoChapter6双语国贸学6章规模经济课件Table:FactorEndowmentsofLeadingIndustrialCountries,asaPercentageoftheWorldTotalin1980 Semi-AllPhysicalR&DSkilledSkilledUnskilledArableResourcesCountryCapitalScientistsLaborLaborLaborLand(1982GDP)U.S.33.6%50.7%27.7%19.1%0.19%29.3%28.6%Japan15.5
26、23.08.711.50.250.811.2W.Germany7.710.06.95.50.081.17.2France7.56.06.03.90.062.66.0U.K.4.58.55.14.90.091.05.1Canada3.91.82.92.10.036.12.6RestofWorld27.30.042.753.099.3259.139.3100.0%100.0%100.0%100.0%100.0%100.0%100.0%Chapter6双语国贸学6章规模经济课件External scale economies (p. 84)meansthesizeofanentireindustry
27、withinaspecificgeographicarea,andthusthetransactioncosts(information,productsalesandotheraspects)decline.Chapter6双语国贸学6章规模经济课件External economies of scale-PLRACQLRAC:theindustrysaveragecostofproductionQ:firmquantity/sizeP:priceA:FirmsmarginalcostB:IndustrysmarginalcostABP1P2Q1Q2Chapter6双语国贸学6章规模经济课件A
28、verage Versus Marginal CostMarginal cost(MC) = TC(tatol cost) Q(quantity)Average cost(AC) = TC TQ(tatol quantity)AC MC = AC(ES exist)Chapter6双语国贸学6章规模经济课件Case study: The external economies of scale in Silicon valleyGDPGDPofKoreaE.Exportshare:1/3ofUS Chapter6双语国贸学6章规模经济课件Concentrationofrelativeindust
29、riesinSiliconvalleyR & D of new products is 60% more fast rest of US.Chapter6双语国贸学6章规模经济课件GreaterlocalsuppliesofspecializedservicesDelivering is 40% fast than rest of USChapter6双语国贸学6章规模经济课件Large pooling of specialized laborsChapter6双语国贸学6章规模经济课件KnowledgeandtechnologicspilloversLabors are frequent m
30、obility : 35%-59% Technology diffuses quickly among firms in the areaChapter6双语国贸学6章规模经济课件Which one is the internal economies of scale or external economies of scale?1.Eating street of Chongqing2. Hollywood3.The digital square of Gangding, Guangzhou4Chapter6双语国贸学6章规模经济课件E1.2.3.I4.5Chapter6双语国贸学6章规模经
31、济课件(2) Internal- monopoly(3) External competition 3.Economiesofscaleandmarketstructure(1) Market structureChapter6双语国贸学6章规模经济课件(1)MarketstructurePerfectlycompetitivemarketFirmsarepricetakers.NoneofthemrepresentsalargepartofamarketImperfectlycompetitivemarketPuremonopolyAmarketinwhichafirmfacesnoComp
32、etition.Thefirmispricesetter. MonopolisticcompetitiveMarket(80s)Oligopoly(寡头独占寡头独占)Marketsaredominatedbyafewfirms.EachofthemislargeenoughtoaffectPrices,butnonewithanuncontestedmonopolyChapter6双语国贸学6章规模经济课件Whats the purpose for firms todominate markets? Chapter6双语国贸学6章规模经济课件Purpose of monopolyQMPDMRM
33、CPMACQ (quantity)ACMonopolyprofitsChapter6双语国贸学6章规模经济课件QM: firms profit-maximizing outputPM: the price at which this output is demandedMR: the marginal revenue curveChapter6双语国贸学6章规模经济课件(2) Internal- monopoly1) Collusive behavior2) Strategic behavior Chapter6双语国贸学6章规模经济课件trade (contents)Internal Eco
34、nomies and tradeExternal Economies and trade Internal-monopolyExternal-competitionChapter6双语国贸学6章规模经济课件1.Thedefinitionofeconomiesofscale(p.83)Withtheexpansionofproductionscale,theoutputperunitoffactorinputwillincrease,andtheaveragecostofproductswilldecline.Microeconomicsnamedit“increasingreturnstoscale规模报酬递增规模报酬递增Therearethreereturnsthatareassociatedwitheconomiesofscale(increasingreturnstoscale、constantreturnstoscale、decreasingreturnstoscale) Chapter6双语国贸学6章规模经济课件monopolyQMPD=ARMRMCPMACChapter6双语国贸学6章规模经济课件
