1、 The Ricardian Model8Chapter 4Resources, Comparative Advantage, and Income Distribution12Chapter 5The Standard Trade Model16Chapter 6Economies of Scale, Imperfect Competition, and International Trade21Chapter 7International Factor Movements26Overview of Section II: International Trade Policy30Chapte
2、r 8The Instruments of Trade Policy32Chapter 9The Political Economy of Trade Policy37Chapter 10Trade Policy in Developing Countries42Chapter 11Controversies in Trade Policy45Overviewof Section III: Exchange Rates and Open-Economy Macroeconomics49Chapter 12National Income Accounting and the Balance of
3、 Payments51Chapter 13Exchange Rates and the Foreign-Exchange Market: An Asset Approach57Chapter 14Money, Interest Rates, and Exchange Rates64Chapter 15Price Levels and the Exchange Rate in the Long Run70Chapter 16Output and the Exchange Rate in the Short Run76Chapter 17Fixed Exchange Rates and Forei
4、gn-Exchange Intervention84Overview of Section IV: International Macroeconomic Policy92Chapter 18The International Monetary System, 1870197394Chapter 19Macroeconomic Policy and Coordination Under Floating Exchange Rates99Chapter 20Optimum Currency Areas and the European Experience107Chapter 21The Glo
5、bal Capital Market: Performance and Policy Problems112Chapter 22Developing Countries: Growth, Crisis, and Reform117Chapter 1Introductionn Chapter OrganizationWhat is International Economics About?The Gains from TradeThe Pattern of TradeHow Much TradeBalance of PaymentsExchange-Rate DeterminationInte
6、rnational Policy CoordinationThe International Capital Market International Economics: Trade and Moneyn Chapter OverviewThe intent of this chapter is to provide both an overview of the subject matter of international economics and to provide a guide to the organization of the text. It is relatively
7、easy for an instructor to motivate the study of international trade and finance. The front pages of newspapers, the covers of magazines, andthe lead reports on television news broadcasts herald the interdependence of the U.S. economy with the rest of the world. This interdependence may also be recog
8、nized by students through their purchases of imports of all sorts of goods, their personal observations of the effects of dislocations due to international competition, and their experience through travel abroad.The study of the theory of international economics generates an understanding of many ke
9、y events that shape our domestic and international environment. In recent history, these events include the causes and consequences of the large current account deficits of the United States; the dramatic appreciation of the dollar during the first half of the 1980s followed by its rapid depreciatio
10、n in the second half of the 1980s; the Latin American debt crisis of the 1980s and the Mexican crisis in late 1994; and the increased pressures for industry protection against foreign competition broadly voiced in the late 1980s and more vocally espoused in the first half of the 1990s. More recently
11、, the financial crisis that began in East Asia in 1997 and spread to many countries around the globe and the Economic and Monetary Union in Europe have highlighted the way in which various national economies are linked and how important it is for us to understand these connections. At the same time,
12、 protests at global economic meetings have highlighted opposition to globalization. The text material will enable studentsto understand the economic context in which such events occur.Chapter 1 of the text presents data demonstrating the growth in trade and increasing importance of international eco
13、nomics. This chapter also highlights and briefly discusses seven themes which arise throughout the book. These themes include: （1） the gains from trade; （2） the pattern of trade;（3） protectionism; （4） the balance of payments; （5） exchange rate determination; （6） international policy coordination; an
14、d （7） the international capital market. Students will recognize that many of the central policy debates occurring today come under the rubric of one of these themes. Indeed, it is often a fruitful heuristic to use current events to illustrate the force of the key themes and arguments which are prese
15、nted throughout the text.International Trade TheorySection I of the text is comprised of six chapters:Chapter 2World Trade: An OverviewChapter 3Labor Productivity and Comparative Advantage: The Ricardian Model Chapter 4Resources, Comparative Advantage, and Income Distribution Chapter 5The Standard T
16、rade ModelChapter 6Economies of Scale, Imperfect Competition, and International TradeChapter 7International Factor Movementsn Section I OverviewSection I of the text presents the theory of international trade. The intent of this section is to explorethe motives for and implications of patterns of tr
17、ade between countries. The presentation proceeds by introducing successively more general models of trade, where the generality is provided by increasing the number of factors used in production, by increasing the mobility of factors of production across sectorsof the economy, by introducing more ge
18、neral technologies applied to production, and by examining different types of market structure. Throughout Section I, policy concerns and current issues are usedto emphasize the relevance of the theory of international trade for interpreting and understanding our economy.Chapter 2 gives a brief over
19、view of world trade. In particular, it discusses what we know about the quantities and pattern of world trade today. The chapter uses the empirical relationship known asthe gravity model as a framework to describe trade. This framework describes trade as a function of the size of the economies invol
20、ved and their distance. It can then be used to see where countries are trading more or less than expected. The chapter also notes the growth in world trade over the previous decadesand uses the previous era of globalization （pre-WWI） as context for todays experience.Chapter 3 introduces you to inter
21、national trade theory through a framework known as the Ricardian model of trade. This model addresses the issue of why two countries would want to trade with each other. This model shows how mutually-beneficial trade arises when there are two countries, each with one factor of production which can b
22、e applied toward producing each of two goods. Key concepts are introduced, such as the production possibilities frontier, comparative advantage versus absolute advantage, gains from trade, relative prices, andrelative wages across countries.Chapter 4 introduces what is known as the classic Heckscher
23、-Ohlin model of international trade. Using this framework, you can work through the effects of trade on wages, prices and output. Many important and intuitive results are derived in this chapter including: the Rybczynski Theorem, the Stolper-Samuelson Theorem, and the Factor Price Equalization Theor
24、em. Implications of the Heckscher-Ohlin model for the pattern of trade among countries are discussed, as are the failures of empirical evidence to confirmthe predictions of the theory. The chapter also introduces questions of political economy in trade. One important reason for this addition to the
25、model is to consider the effects of trade on income distribution.This approach shows that while nations generally gain from international trade, it is quite possible that specific groups within these nations could be harmed by this trade. This discussion, and related questions about protectionism ve
26、rsus globalization, becomes broader and even more interesting as you work through the models and different assumptions of subsequent chapters.Chapter 5 presents a general model of international trade which admits the models of the previous chapters as special cases. This “standard trade model” is de
27、picted graphically by a general equilibrium trade model as applied to a small open economy. Relative demand and relative supply curves are used to analyze a variety of policy issues, such as the effects of economic growth, the transfer problem, and the effects of trade tariffs and production subsidi
28、es. The appendix to the chapter develops offer curve analysis.While an extremely useful tool, the standard model of trade fails to account for some important aspectsof international trade. Specifically, while the factor proportions Heckscher-Ohlin theories explain some trade flows between countries,
29、 recent research in international economics has placed an increasing emphasis on economies of scale in production and imperfect competition among firms.Chapter 6 presents models of international trade that reflect these developments. The chapter begins by reviewing the concept of monopolistic compet
30、ition among firms, and then showing the gains from trade which arise in such imperfectly competitive markets. Next, internal and external economies of scale in production and comparative advantage are discussed. The chapter continues with a discussion of the importance of intra-industry trade, dumpi
31、ng, and external economies of production. The subject matterof this chapter is important since it shows how gains from trade arise in ways that are not suggested bythe standard, more traditional models of international trade. The subject matter also is enlightening given the increased emphasis on intra-industry trade in industrialized countries.Chapter 7 focuses on international factor mobility. This departs from previous chapters which assumed that the fact
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