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1、第三讲 相互依存性和贸易的好处INTERDEPENDENCE AND THE GAINS FROM TRADE郭研北京大学经济学院INTERDEPENDENCE AND THE GAINS FROM TRADEuHow 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 T
2、HE GAINS FROM TRADEu牧场主和农场主贸易的好处来自：牧场主养牛，农场主种土豆。牧场主既养牛也种土豆，但土地不太肥沃；农场主既种土豆也养牛，但养牛的技术比较差。u如果牧场主或是农场主无论种土豆还是养牛都比另一个强的话，贸易的好处还在吗?INTERDEPENDENCE AND THE GAINS FROM TRADEMinutes Needed to Make 1 Minutes Needed to Make 1 Ounce of:Ounce of:Amount Produced in 8 HoursAmount Produced in 8 HoursMeatPotatoesMe
3、atPotatoesFarmer60 min./oz.15 min./oz.8/1=8 oz.8/0.25=32 oz.Rancher20 min./oz.10 min./oz.8/0.33=24 oz.8/0.16=48 oz.PRODUCTION POSSIBILITIESuSelf-SufficiencyBy ignoring each other:Each consumes what they each produce.The production possibilities frontier is also the consumption possibilities frontier
4、 because we are assuming that there is no trade.We will assume that the farmer and rancher divide their time equally between raising cattle and growing potatoes.PRODUCTION POSSIBILITIESSELF-SUFFICIENCYuThe farmer produces(and consumes)at point A16 ounces of potatoes and 4 ounces of meat.uThe rancher
5、 produces(and consumes)at point B24 ounces of potatoes and 12 ounces of meat.SPECIALIZATION AND TRADEuSuppose the rancher suggests that the farmer specialize in the production of potatoes and then trade with the rancher for meat.a.The rancher will spend 6 hours a day producing meat(18 ounces)and 2 h
6、ours a week growing potatoes(12 ounces).b.The farmer will spend 8 hours a day growing potatoes(32 ounces).c.The rancher will trade 5 ounces of meat for 15 ounces of potatoes.SPECIALIZATION AND TRADEuEnd results:a.The rancher produces 18 ounces of meat and trades 5 leaving him with 13 ounces of meat.
7、He also grows 12 ounces of potatoes and receives 15 ounces in the trade,leaving him with 27 ounces of potatoes.b.The farmer produces 32 ounces of potatoes and trades 15 leaving him with 17 ounces.He also receives 5 ounces of meat in the trade with the rancher.uIn both cases,they are able to consume
8、quantities of potatoes and meat after the trade that they could not reach before the trade.SPECIALIZATION AND TRADEBENEFITS FROM TRADEfarmerfarmerrancherrancherMeatPotatoesMeatPotatoesWithout trade production and consumption4161224With tradeproduction0321812tradeGets 5gives15Gives 5Gets 15consumptio
9、n5171327Gains from trade:increase in consumption+1+1+1+3INTERDEPENDENCE AND THE GAINS FROM TRADEutwo questions:Why is interdependence the norm?What determines production and trade?THE PRINCIPLE OF COMPARATIVE ADVANTAGEuDifferences in the costs of production determine the following:Who should produce
10、 what?How much should be traded for each product?uWho can produce potatoes at a lower cost-the Who can produce potatoes at a lower cost-the farmer or the rancher?farmer or the rancher?THE PRINCIPLE OF COMPARATIVE ADVANTAGEuTwo ways to measure differences in costs of production:The number of hours re
11、quired to produce a unit of output(for example,one pound of potatoes).The opportunity cost of sacrificing one good for another.ABSOLUTE ADVANTAGEuThe comparison among producers of a good according to their productivityabsolute advantage Describes the productivity of one person,firm,or nation compare
12、d 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.ABSOLUTE ADVANTAGEuThe Rancher needs only 10 minutes to produce an ounce of potatoes,whereas the Farmer needs 15 minutes.uThe Rancher needs only
13、 20 minutes to produce an ounce of meat,whereas the Farmer needs 60 minutes.uThe Rancher has an absolute advantage in the The Rancher has an absolute advantage in the production of both meat and potatoes.production of both meat and potatoes.OPPORTUNITY COST AND COMPARATIVEADVANTAGEuCompares producer
14、s of a good according to their opportunity cost_ Whatever must be given up to obtain some item.uThe producer who has the smaller opportunity cost of producing a good is said to have a comparative advantage comparative advantage in producing that good.COMPARATIVE ADVANTAGE AND TRADEuWho has the absol
15、ute advantage?uWho has the comparative advantage?COMPARATIVE ADVANTAGE AND TRADEOpportunity CostOpportunity Cost1 oz of Meat1 oz of Potatoesfarmer4 oz potatoes1/4 oz meatrancher2 oz potatoes1/2 oz meatThe Opportunity Cost of Meat and Potatoesso,the Rancher has a comparative advantage in theproductio
16、n of meat but the Farmer has a comparativeadvantage in the production of potatoes.COMPARATIVE ADVANTAGE AND TRADE Is it possible for a person to have a Is it possible for a person to have a comparative advantage in the comparative advantage in the production of both goods?production of both goods?CO
17、MPARATIVE ADVANTAGE AND TRADEuComparative advantage and differences in Comparative advantage and differences in opportunity costs opportunity costs are the basis for specialized production and trade.uWhenever potential trading parties have differences in opportunity costs,they can each benefit from
18、trade.uTrade can benefit everyone in a society because it allows people to specialize in activities in which they have a comparative advantage.COMPARATIVE ADVANTAGE AND TRADEuHow to determine the price of trading?The rancher buys 15 ounces of potatoes for 5 ounces of meat.The price of each ounce of
19、potatoes is 1/3 ounce of meat.This is lower than the ranchers opportunity cost of ounce of meat and is therefore beneficial to the rancher.The farmer buys 5 ounces of meat with 15 ounces of potatoes.This implies that the price of each ounce of meat is 3 ounces of potatoes,which is lower than the far
20、mers opportunity cost of 4 ounces of potatoes.Thus,trade also benefits the farmer.uWhat if the price of meat is not in between 2oz and 4oz of potatoes?THE LEGACY OF ADAM SMITH AND DAVID RICARDOuAdam Smith In his 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations,Adam Smith perf
21、ormed a detailed analysis of trade and economic interdependence,which economists still adhere to today.uDavid Ricardo In his 1816 book Principles of Political Economy and Taxation,David Ricardo developed the principle of comparative advantage as we know it today.APPLICATIONS OF COMPARATIVEADVANTAGES
22、hould Faculties clean their own offices?Should Tiger Woods mow his own lawn?Create comparative advantage examples!APPLICATIONS OF COMPARATIVEADVANTAGEuShould China trade with other countries?uEach country has many citizens with different interests.International trade can make some individuals worse
23、off,even as it makes the country as a whole better off.Importsgoods produced abroad and sold domestically Exportsgoods produced domestically and sold abroadSUMMARYuEach person consumes goods and services produced by many other people both in our country and around the world.uInterdependence and trad
24、e are desirable because they allow everyone to enjoy a greater quantity and variety 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 s
25、maller opportunity cost has a comparative advantage.SUMMARYuThe gains from trade are based on comparative advantage,not absolute advantage.uTrade makes everyone better off because it allows people to specialize in those activities in which they have a comparative advantage.uThe principle of comparative advantage applies to countries as well as people.