托马斯.A.普格尔 国际贸易 英语chap002.pptVIP

Chapter 2 The basic theory using demand and supply Key Questions About International Trade Why do countries trade? What is the basis for trade, especially the product (commodity) composition? What are the effects of trade on each country’s economic structure? (Production, consumption.) Which country gains from trade? What are the effects of trade on the distribution of income within each country? (Winners, losers.) Could you answer these questions by your intuition? Outline of chapter 2 Demand and supply Demand and Consumer surplus Supply and producer surplus A national market with no trade Two national markets and the opening of trade Free trade equilibrium Effects in the importing country Effects in the exporting country Which country gains more? Demand What determines how much of a product is demanded? The determinants of demand include price, tastes, the price of other products , income and expectation Demand curve Why does it slope down? Price of elasticity of demand Price elasticity of demand The percent change in quantity demanded of a product caused by a one percent increase in the price of this product Which demand curve is more elastic? Consumer surplus The difference between the value that consumers place on the units of the product that they buy and the payment that they make to obtain these units. How much consumer surplus in figure 2-1 ? Figure 2.1 – Demand and Supply for Motorbikes supply curve Why does it slope up? Price of elasticity of supply Supply surplus (figure 2.1) A national market with no trade Figure 2.2 – The Market for Motorbikes: Demand and Supply Two national markets and the opening of trade What will happen when US trade with the rest of country? Buy low and sell high ----- arbitrage Figure 2.3 – The Effects of Trade on Production, Consumption, and Price, Shown with Demand and Supply Curves Effects on production and consumption importing country exporting country Figure 2.3 – The Effects of Trade on Production, Consumpt