Unit 1~2Mercantilism 重商主义 Neomeicantilist 新重商主义者Trade surplus 贸易顺差Quota and tariff 配额和关税Government intervention 政府干预Zero-sum game 零和博弈Positive-sum game 常和博弈The theory of absolute advantage 绝对优势理论The theory of comparative advantage 比较优势理论Factor endowments 要素禀赋理论Product life cycle 产品生命周期（+theory ……理论）Economies of scale 规模经济Diminishing returns 收益递减规律Green revolution 绿色革命Voluntary restriction 自动出口限制Deposit 佣金First mover advantage 先占优势Barrier to entry 进入(市场)壁垒Porter’s diamond theory 波特的钻石理论National competitive advantage 国家竞争优势The department of commerce 商务部Letter of credit 信用证Draft /bill of exchange 汇票bill of lading B/L 提单Sight draft 即期汇票Time draft 远期汇票Banker ‘s acceptance 银行承兑（+bill …汇票）Trade acceptance 商业承兑汇票Countertrade 对等贸易Barter 易货贸易Switch trading 转手贸易Offset 抵消Counter purchase 互购贸易Compensation trade 补偿贸易Mercantilism suggests that it is in a country’s best interest to maintain a trade surplus -- to export more than it imports（重商主义就是保持贸易顺差以实现一国的最大利益---出口超过进口）Mercantilism advocates government intervention(介入) to achieve a surplus in the balance of trade （重商主义主张政府介入以便实现对外贸易顺差）It views trade as a zero-sum game - one in which a gain by one country results in a loss by another （将贸易看成零和博弈，一个国家收益一个国家受损）Absolute Advantage 绝对优势Adam Smith argued that a country has an absolute advantage in the production of a product when it is more efficient than any other country in producing it亚当斯密认为一个国家生产一种商品比其他任何国家效率都高时存在绝对优势According to Smith, countries should specialize in the production of goods for which they have an absolute advantage and then trade these goods for the goods produced by other countries 按照亚当斯密的说法，各国应该专门生产具有绝对优势的商品，然后用他们交换其他国家生产的商品The Benefit（好处） of Absolute Advantage and Free TradeThe Principle for International Division of Labor–Absolute Advantage 国际分工的原则---绝对优势The Consequence（结果） of Division of Labor and Free Trade 分工的结果和自由贸易1. To Production: the Flow of the Factor of Production 生产要素的流动； the Efficiency of Factor Distribution 要素分配效率；the Quantity of Production 产品质量。

2. To Consumer: Welfare from Free Trade自由贸易福利: low price of imports and more consumption 低价格的进口更多的消费Comparative Advantage比较优势Ricardo’s theory of comparative advantage suggests that countries should specialize in the productionof those goods they produce most efficiently and buy goods that they produce less efficiently from other countries, even if this means buying goods from other countries that they could produce more efficiently at home李嘉图的比较优势理论认为一个国家分工生产最有效率的产品，而从别国购买自己生产效率相对较低的产品，甚至从别国购买自己更能有效生产的产品是有意义choose bigger one in two advantages and smaller one in two disadvantages 两利取重两害取轻Heckscher-Ohlin Theory 俄林理论Eli Heckscher and Bertil Ohlin argued that comparative advantage arises from differences in national factor endowments（天赋）– the extent to which a country is endowed with resources like land, labor, and capital赫克歇尔和俄林认为比较优势是由各国生产要素禀赋的差异引起的，指一国的一些资源比如土地，劳动力还有资本 To take advantage of factor of endowmentsThe Heckscher-Ohlin theory predicts that countries will export goods that make intensive use of those factors that are locally abundant, while importing goods that make intensive use of factors that are locally scarce赫克歇尔-俄林理论预测一国将出口密集型使用本国充足要素的产品，进口密集使用本国稀缺要素的产品。

H-O vs Ricardo：Ricardo（comparative advantage stems from differences in productivity）；H-O（national factor endowments are responsible for the difference）New Trade Theory 新贸易理论New trade theory suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a large scale of output) can have important implications for international tradeNew trade theory suggests that:through its impact on economies of scale, trade can increase the variety of goods available to consumers and decrease the average cost of those goods贸易可以通过对规模经济的影响增加消费品的种类，降低这些商品的平均成本in those industries when output required to attain economies of scale represents a significant proportion of total world demand, the global market may only be able to support a small number of enterprises一些应该达到规模经济的产业，所生产的产品占世界总需求的比重较大，这样全球市场就只能容纳数量很少的企业Factor Endowments 要素禀赋Factor endowments refer to a nation’s position in factors of production necessary to compete in a given industry 要素禀赋理论意味着国家态度对一个特定行业生产要素的竞争是很必要的A nation's position in factors of production can lead to competitive advantage国家对生产要素的使用态度可以导致比较优势These factors can be either basic (natural resources, climate, location) or advanced (skilled labor, infrastructure, technological know-how) 要素可以是基础的也可以是高等的Economy of the scale规模效应It refers to the ability to increase the output of a product with specialization owning to larger scale and lower unit costs.Economy of scale is derived by spreading fixed cost over a larger output,First-Mover Advantages 第一进入者优势Being a first mover can have important competitive implications, especially if there are economies of scale and the global industry will only support a few competitors第一进入者有重要的竞争影响，特别是规模经济或者全球行业只有少量竞争者时Firms that establish a first-mover advantage may dominate global trade in that product.公司建立了第一个优势可能会在全球贸易中占主导地位Product life cycle theory产品生命周期理论：as products mature，both the location of sales and of production chance，thereby affecting the pattern of exports and imports.For many，especially technology products。