曼昆微觀經(jīng)濟(jì)學(xué) 第三章課件

Interdependenceand

theGainsfromTradeChapter3Copyright?2001byHarcourt,Inc.

Allrightsreserved.

Requestsforpermissiontomakecopiesofanypartofthe

workshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,

6277SeaHarborDrive,Orlando,Florida32887-6777.

Interdependenceand

theGains1InterdependenceandTrade

Consideryourtypicalday:YouwakeuptoanalarmclockmadeinKorea.Youpouryourselfsomeorangejuicemadefrom orangesgrowninFlorida.Youputonsomeclothesmadeofcottongrownin GeorgiaandsewninfactoriesinThailand.YouwatchthemorningnewsbroadcastfromNew YorkonyourTVmadeinJapan.Youdrivetoclassinacarmadeofparts manufacturedinahalf-dozendifferentcountries.

…andyouhaven’tbeenupformorethantwohoursyet!Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.InterdependenceandTradeCons2InterdependenceandTradeRemember,economicsisthestudyofhowsocietiesproduceanddistributegoodsinanattempttosatisfythewantsandneedsofitsmembers.InterdependenceandTradeRemem3Howdowesatisfyourwantsandneedsinaglobaleconomy?Wecanbeeconomicallyself-sufficient.Wecanspecializeand tradewithothers, leadingtoeconomicinterdependence.Howdowesatisfyourwantsan4InterdependenceandTradeAgeneralobservation...Individualsandnationsrelyonspecializedproductionandexchangeasawaytoaddressproblemscausedbyscarcity.InterdependenceandTradeAgen5Whyisinterdependencethenorm?Interdependenceoccursbecausepeoplearebetteroffwhentheyspecializeandtradewithothers.Whyisinterdependencethenor6Imagine...onlytwogoods:potatoesandmeatonlytwopeople:apotatofarmerandacattlerancherAParablefortheModernEconomyImagine...AParableforthe7TheProductionOpportunitiesoftheFarmerandtheRancherHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheProductionOpportunitieso8ProductionPossibilitiesFrontiersPotatoes(ounces)Meat(ounces)328416(a)TheFarmer’sProductionPossibilitiesFrontier0AIfthereisnotrade,thefarmerchoosesthisproductionandconsumptionProductionPossibilitiesFront9ProductionPossibilitiesFrontiersPotatoes(ounces)Meat(ounces)481224(b)TheRancher’sProductionPossibilitiesFrontier0BIfthereisnotrade,therancherchoosesthisproductionandconsumption24ProductionPossibilitiesFront10TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma11TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma12HowTradeExpandstheSetofConsumptionOpportunitiesCopyright?2003Southwestern/ThomsonLearningPotatoes(ounces)416517832AA*0Meat(ounces)(a)TheFarmer’sProductionandConsumptionFarmer'sproductionandconsumptionwithouttradeFarmer'sconsumptionwithtradeFarmer'sproductionwithtradeHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.HowTradeExpandstheSetofC13HowTradeExpandstheSetofConsumptionOpportunitiesPotatoes(ounces)12241327B0Meat(ounces)(b)TheRancher’sProductionandConsumption48241218B*Rancher'sconsumptionwithtradeRancher'sproductionwithtradeRancher'sproductionandconsumptionwithouttradeHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.HowTradeExpandstheSetofC14TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma15DifferencesinCostsofProductionThenumberofhoursrequiredtoproduceaunitofoutput.(forexample,onepoundofpotatoes)Theopportunitycostofsacrificingonegoodforanother.Twowaystomeasuredifferencesincostsofproduction:DifferencesinCostsofProduc16AbsoluteAdvantageDescribestheproductivityofoneperson,firm,ornationcomparedtothatofanother.Theproducerthatrequiresasmallerquantityofinputstoproduceagoodissaidtohaveanabsoluteadvantageinproducingthatgood.AbsoluteAdvantageDescribesth17AbsoluteAdvantageTheRancherneedsonly10minutestoproduceapoundofpotatoes,whereastheFarmerneeds15minutes.TheRancherneedsonly20minutestoproduceapoundofmeat,whereastheFarmerneeds60minutes.TheRancherhasanabsoluteadvantageintheproductionofbothmeatandpotatoes.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.AbsoluteAdvantageTheRancher18ComparativeAdvantageComparesproducersofagoodaccordingtotheiropportunitycost.

Theproducerwhohasthesmalleropportunitycostofproducingagoodissaidtohaveacomparativeadvantageinproducingthatgood.ComparativeAdvantageCompares19TheOpportunityCostofMeatandPotatoesHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheOpportunityCostofMeata20ComparativeAdvantageandTradeTheRancher’sopportunitycostofanounceofpotatoesis1/2ounceofmeat,whereastheFarmer’sopportunitycostofanounceofpotatoesis1/4anounceofmeat.

TheRancher’sopportunitycostofanounceofmeatisonly2ouncespoundofpotatoes,whiletheFarmer’sopportunitycostofanounceofmeatis4ouncesofpotatoes...Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.ComparativeAdvantageandTrad21ComparativeAdvantage…so,theRancherhasacomparativeadvantageintheproductionofmeatbuttheFarmerhasacomparativeadvantageintheproductionofpotatoes.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.ComparativeAdvantage…so,the22ThePrincipleof

ComparativeAdvantageComparativeadvantageanddifferencesinopportunitycostsarethebasisforspecializedproductionandtrade.Wheneverpotentialtradingpartieshavedifferencesinopportunitycosts,theycaneachbenefitfromtrade.ThePrincipleof

Comparative23BenefitsofTradeTradecanbenefiteveryoneinasocietybecauseitallowspeopletospecializeinactivitiesinwhichtheyhaveacomparativeadvantage.BenefitsofTradeTradecanben24AdamSmithandTradeInhis1776bookAnInquiryintotheNatureandCausesoftheWealthofNations,

AdamSmith

performedadetailedanalysisoftradeandeconomicinterdependence,whicheconomistsstilladheretotoday.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.AdamSmithandTradeInhis17725DavidRicardoandTradeInhis1816bookPrinciplesofPoliticalEconomyandTaxation,

DavidRicardo

developedtheprincipleofcomparativeadvantageasweknowittoday.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.DavidRicardoandTradeInhis26ShouldTigerWoodsMowHisOwnLawn????Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.ShouldTigerWoodsMowHisOwn27APPLICATIONSOFCOMPARATIVEADVANTAGE

ShouldtheUnitedStatesTradewithOtherCountries?Eachcountryhasmanycitizenswithdifferentinterests.Internationaltradecanmakesomeindividualsworseoff,evenasitmakesthecountryasawholebetteroff.Imports—goodsproducedabroadandsolddomesticallyExports—goodsproduceddomesticallyandsoldabroadHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.APPLICATIONSOFCOMPARATIVEAD28SummaryInterdependenceandtradeallowpeopletoenjoyagreaterquantityandvarietyofgoodsandservices.SummaryInterdependenceandtra29SummaryTherearetwowaystocomparetheabilityoftwopeopleproducingagood.Thepersonwhocanproduceagoodwithasmallerquantityofinputshasanabsoluteadvantage.Thepersonwithasmalleropportunitycosthasacomparativeadvantage.Thegainsfromtradearebasedoncomparativeadvantage,notabsoluteadvantage.SummaryTherearetwowaystoc30SummaryTrademakeseveryonebetteroffbecauseitallowspeopletospecializeinthoseactivitiesinwhichtheyhaveacomparativeadvantage.Comparativeadvantageappliestocountriesaswellastopeople.SummaryTrademakeseveryonebe31Interdependenceand

theGainsfromTradeChapter3Copyright?2001byHarcourt,Inc.

Allrightsreserved.

Requestsforpermissiontomakecopiesofanypartofthe

workshouldbemailedto:PermissionsDepartment,HarcourtCollegePublishers,

6277SeaHarborDrive,Orlando,Florida32887-6777.

Interdependenceand

theGains32InterdependenceandTrade

Consideryourtypicalday:YouwakeuptoanalarmclockmadeinKorea.Youpouryourselfsomeorangejuicemadefrom orangesgrowninFlorida.Youputonsomeclothesmadeofcottongrownin GeorgiaandsewninfactoriesinThailand.YouwatchthemorningnewsbroadcastfromNew YorkonyourTVmadeinJapan.Youdrivetoclassinacarmadeofparts manufacturedinahalf-dozendifferentcountries.

…andyouhaven’tbeenupformorethantwohoursyet!Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.InterdependenceandTradeCons33InterdependenceandTradeRemember,economicsisthestudyofhowsocietiesproduceanddistributegoodsinanattempttosatisfythewantsandneedsofitsmembers.InterdependenceandTradeRemem34Howdowesatisfyourwantsandneedsinaglobaleconomy?Wecanbeeconomicallyself-sufficient.Wecanspecializeand tradewithothers, leadingtoeconomicinterdependence.Howdowesatisfyourwantsan35InterdependenceandTradeAgeneralobservation...Individualsandnationsrelyonspecializedproductionandexchangeasawaytoaddressproblemscausedbyscarcity.InterdependenceandTradeAgen36Whyisinterdependencethenorm?Interdependenceoccursbecausepeoplearebetteroffwhentheyspecializeandtradewithothers.Whyisinterdependencethenor37Imagine...onlytwogoods:potatoesandmeatonlytwopeople:apotatofarmerandacattlerancherAParablefortheModernEconomyImagine...AParableforthe38TheProductionOpportunitiesoftheFarmerandtheRancherHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheProductionOpportunitieso39ProductionPossibilitiesFrontiersPotatoes(ounces)Meat(ounces)328416(a)TheFarmer’sProductionPossibilitiesFrontier0AIfthereisnotrade,thefarmerchoosesthisproductionandconsumptionProductionPossibilitiesFront40ProductionPossibilitiesFrontiersPotatoes(ounces)Meat(ounces)481224(b)TheRancher’sProductionPossibilitiesFrontier0BIfthereisnotrade,therancherchoosesthisproductionandconsumption24ProductionPossibilitiesFront41TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma42TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma43HowTradeExpandstheSetofConsumptionOpportunitiesCopyright?2003Southwestern/ThomsonLearningPotatoes(ounces)416517832AA*0Meat(ounces)(a)TheFarmer’sProductionandConsumptionFarmer'sproductionandconsumptionwithouttradeFarmer'sconsumptionwithtradeFarmer'sproductionwithtradeHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.HowTradeExpandstheSetofC44HowTradeExpandstheSetofConsumptionOpportunitiesPotatoes(ounces)12241327B0Meat(ounces)(b)TheRancher’sProductionandConsumption48241218B*Rancher'sconsumptionwithtradeRancher'sproductionwithtradeRancher'sproductionandconsumptionwithouttradeHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.HowTradeExpandstheSetofC45TheGainsfromTrade:

ASummaryHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheGainsfromTrade:

ASumma46DifferencesinCostsofProductionThenumberofhoursrequiredtoproduceaunitofoutput.(forexample,onepoundofpotatoes)Theopportunitycostofsacrificingonegoodforanother.Twowaystomeasuredifferencesincostsofproduction:DifferencesinCostsofProduc47AbsoluteAdvantageDescribestheproductivityofoneperson,firm,ornationcomparedtothatofanother.Theproducerthatrequiresasmallerquantityofinputstoproduceagoodissaidtohaveanabsoluteadvantageinproducingthatgood.AbsoluteAdvantageDescribesth48AbsoluteAdvantageTheRancherneedsonly10minutestoproduceapoundofpotatoes,whereastheFarmerneeds15minutes.TheRancherneedsonly20minutestoproduceapoundofmeat,whereastheFarmerneeds60minutes.TheRancherhasanabsoluteadvantageintheproductionofbothmeatandpotatoes.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.AbsoluteAdvantageTheRancher49ComparativeAdvantageComparesproducersofagoodaccordingtotheiropportunitycost.

Theproducerwhohasthesmalleropportunitycostofproducingagoodissaidtohaveacomparativeadvantageinproducingthatgood.ComparativeAdvantageCompares50TheOpportunityCostofMeatandPotatoesHarcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.TheOpportunityCostofMeata51ComparativeAdvantageandTradeTheRancher’sopportunitycostofanounceofpotatoesis1/2ounceofmeat,whereastheFarmer’sopportunitycostofanounceofpotatoesis1/4anounceofmeat.

TheRancher’sopportunitycostofanounceofmeatisonly2ouncespoundofpotatoes,whiletheFarmer’sopportunitycostofanounceofmeatis4ouncesofpotatoes...Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.ComparativeAdvantageandTrad52ComparativeAdvantage…so,theRancherhasacomparativeadvantageintheproductionofmeatbuttheFarmerhasacomparativeadvantageintheproductionofpotatoes.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.ComparativeAdvantage…so,the53ThePrincipleof

ComparativeAdvantageComparativeadvantageanddifferencesinopportunitycostsarethebasisforspecializedproductionandtrade.Wheneverpotentialtradingpartieshavedifferencesinopportunitycosts,theycaneachbenefitfromtrade.ThePrincipleof

Comparative54BenefitsofTradeTradecanbenefiteveryoneinasocietybecauseitallowspeopletospecializeinactivitiesinwhichtheyhaveacomparativeadvantage.BenefitsofTradeTradecanben55AdamSmithandTradeInhis1776bookAnInquiryintotheNatureandCausesoftheWealthofNations,

AdamSmith

performedadetailedanalysisoftradeandeconomicinterdependence,whicheconomistsstilladheretotoday.Harcourt,Inc.itemsandderiveditemscopyright?2001byHarcourt,Inc.AdamSmithand