Factor endowment
Production scale
Demand side: Income
Preference
• What are the impacts of trade?
On price, prodare
• What are the changes in trade pattern?
metals
• Export is a gain (gain precious metals); import is a loss (lose precious metals)
• Trade is a “Zero-sum Game”: one country gain is a loss of another country
1. Absolute Advantage and the Smith Model 2. Comparative Advantage and the Ricardian Model
Neoclassical Trade Theory
3. Factor Endowment and the Basic Heckscher-Ohlin Model 4. Extensions and Implications of the H-O Model 5. Specific Factor Model
Explaining the dynamic changes in trade pattern
2020/9/23
.
11
Mercantilism
Time period: 1500-1750
Main ideas: • Nation’s Wealth = Country’s holdings of precious
2020/9/23
.
4
1.2 International Trade Fundamentals
Value of trade 贸易额（贸易值）Vs quantum of trade (贸易量)
Ratio of Dependence On Foreign Trade(贸易依存度)
2020/9/23
.
2020/9/23
.
2
Chapter 1 Introduction
1.1 Brief History of International Trade 1.2 International Trade Fundamentals 1.3 Introduction to International Trade
1.Free Trade Vs. Trade Protectionism 2. Brief Introduction to Trade Theories
2020/9/23
.
9
TRADE THEORIES
Early Trade Theories The Classical Theory of Trade
Theories
2020/9/23
.
3
1.1 Brief History of International Trade
1.”International”+”Trade” 2. Brief History 3.New development in international trade 4.International trade and economy growth
Policies:
• Build up the power of a nation-state: strong army, strong navy, and merchant marine
• Maintain a positive trade balance: export > import
visible/Tangible trade
invisible/Intangible trade General trade，总贸易 Special trade,专门贸易 Terms of Trade(TOT)贸易条件
=Px/Pm*100
2020/9/23
.
8
1.3 Introduction to International Trade Theories
International Trade
.
1
主要参考书
1、国际贸易 海闻 上海人民出版社 2、国际经济学 保罗 克鲁格曼 中国人民大
学 （国际贸易部分） 3、 http://highered.mcgraw-
/sites/0073375756/student_vie w0/index.html
an unfavorable balance of trade, excess of import, deficit , overimport 贸易逆差
Is huge trade surplus good or bad for a country?
2020/9/23
.
7
composition of trade贸易商品结构 trade by region贸易地理结构
Modern Trade Theories
6. Imperfect Competition and Economies of Scale 7. Product Cycle 8. Demand-side Theories 9. New Development in International Economics
2020/9/23
.
10
THEORETICAL ISSUES:
• Why do countries trade?
Gain from trade
• What are the bases for trade?
Price differences Supply side (cost): Technology
5
我国外贸依存度变化
年 份 1975 1980 1982 1997 2000
依存度 5.4% 15.3 8.2% 40% 43.9
%
%
2020/9/23
.
6
balance of trade (BT)贸易差额
Definition：BT=∑ex －∑im
a favorable balance of trade, excess of export 贸易顺差