32 trang 2 lượt tải

Understanding Interdependence & Gains from Trade | Microeconomics | Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

3

Look for the answers to these questions: • Why do people – and nations – choose to be economically interdependent? • How can trade make everyone better off? • What is absolute advantage? • What is comparative advantage? • How are these concepts similar? • How are they different? Tài liệu được sưu tầm và soạn thảo dưới dạng file PDF để gửi tới các bạn cùng tham khảo, ôn tập đầy đủ kiến thức, chuẩn bị cho các buổi học thật tốt. Mời bạn đọc đón xem!

Môn: Microeconomics 613 tài liệu

Trường: Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh 1.9 K tài liệu

Tác giả:

Profile

Mai Nguyệt

1 tuần trước
Tải xuống
Báo cáo
Danh sách Quiz
Tải xuống
/32
N.GREGORYMANKIW
PRINCIPLES OF
ECONOMICS
Eight Edition
Interdependence and
the Gains from Trade
CHAPTER
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
1
Look for the answers to these questions:
• Why do people – and nations – choose to
be economically interdependent?
• How can trade make everyone better off?
• What is absolute advantage?
• What is comparative advantage?
• How are these concepts similar?
• How are they different?
2
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Interdependence
Every day you
rely on many
people from
around the
world, most of
whom you’ve
never met, to
provide you
with the goods
and services you
enjoy.
3
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
coffee from
Kenya
dress shirt
from China
cell phone
from Taiwan
hair gel from
Cleveland, OH
Interdependence
• <Trade can make everyone better off=
– One of the Ten Principles from Chapter 1
– We now learn why people – and nations –
choose to be interdependent
– And how they can gain from trade
4
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
ASK THE EXPERTS
5
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use.
Trade between China and the United States
“Trade with makes most Americans China
better offbecause, amongother advantages,
they can buy goods that are made or
assembled more cheaply in China.”
Our Example
• Two countries:
– The U.S. and Japan
• Two goods:
– Computers and wheat
• One resource:
– Labor, measured in hours
• How much of both goods each country produces
and consumes
– If the country chooses to be self-sufficient
– If it trades with the other country
6
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Our Example
• Production Possibilities in the U.S.
– The U.S. has 50,000 hours of labor
available for production, per month
– Producing one computer requires 100
hours of labor
– Producing one ton of wheat requires 10
hours of labor
7
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
The U.S. PPF
The U.S. has
enough labor to
produce 500
computers,
or 5,000 tons of
wheat,
or any combination
along the PPF.
8
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
4,000
100
5,000
2,000
1,000
3,000
500200 300 400
0
Computers
Wheat
(tons)
The U.S. Without Trade
Suppose the U.S.
uses half its labor to
produce each of the
two goods.
Then it will produce
and consume 250
computers and
2,500 tons of wheat.
9
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
4,000
100
5,000
2,000
1,000
3,000
500200 300 400
0
Computers
Wheat
(tons)
Active Learning 1 Derive Japan’s PPF
Use the following information to draw Japan’s
PPF.
– Japan has 30,000 hours of labor available for
production, per month.
– Producing one computer requires 125 hours of
labor.
– Producing one ton of wheat requires 25 hours
of labor.
• Your graph should measure computers on
the horizontal axis.
10
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
A
ctive Learning 1 Japan’s PPF
Japan has enough labor to
produce 240 computers,
or 1,200 tons of wheat,
or any combination along
the PPF.
11
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Computers
Wheat
(tons)
2,000
1,000
200
0
100 300
Japan Without Trade
Suppose Japan uses
half its labor to
produce each good.
Then it will produce
and consume 120
computers and 600
tons of wheat.
12
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Computers
Wheat
(tons)
2,000
1,000
200
0
100 300
Consumption With and Without Trade
• Without trade:
• U.S. consumers get 250 computers
and 2500 tons wheat
• Japanese consumers get 120 computers
and 600 tons wheat
• Comparison
– Consumption without trade vs. consumption
with trade
– We need to see how much of each good is
produced and traded by the two countries
13
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Active Learning 2 Production under trade
A. Suppose the U.S. produces 3400 tons of
wheat.
– How many computers would the U.S. be able
to produce with its remaining labor?
– Draw the point representing this combination
of computers and wheat on the U.S. PPF.
B. Suppose Japan produces 240 computers.
– How many tons of wheat would Japan be able
to produce with its remaining labor?
– Draw this point on Japan’s PPF.
14
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Active Learning 2 A. U.S. Production With Trade
Producing 3,400 tons of
wheat requires 34,000
labor hours.
The remaining 16,000
labor hours are used to
produce 160 computers.
15
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
4,000
100
5,000
2,000
1,000
3,000
500200 300 400
0
Computers
Wheat
(tons)
Active Learning 2 B. Japan’s Production With Trade
Producing 240
computers requires all of
Japan’s 30,000 labor
hours.
So, Japan would produce
0 tons of wheat.
16
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Computers
Wheat
(tons)
2,000
1,000
200
0
100 300
Exports and Imports
• Imports
– Goods produced abroad and sold
domestically
• Exports
– Goods produced domestically and sold
abroad
17
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Active Learning 3 Consumption under trade
Suppose the U.S. exports 700 tons of wheat
to Japan, and imports 110 computers from
Japan. (Japan imports 700 tons wheat and
exports 110 computers.)
A. How much of each good is consumed in
the U.S.? Plot this combination on the U.S.
PPF.
B. How much of each good is consumed in
Japan? Plot this combination on Japan’s
PPF.
18
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Active Learning 3 A. U.S. Consumption With Trade
19
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
4,000
100
5,000
2,000
1,000
3,000
500200 300 400
0
Computers
Wheat
(tons)
2700270
= amount
consumed
0110+ imported
7000– exported
3400160produced
wheatcomputers
Active Learning 3 B. Japan’s Consumption With Trade
20
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
management system for classroom use.
Computers
Wheat
(tons)
2,000
1,000
200
0
100 300
700130
= amount
consumed
7000+ imported
0110– exported
0240produced
wheatcomputers

Tài liệu khác của Trường Đại học Quốc tế, Đại học Quốc gia Thành phố Hồ Chí Minh

Preview text:

N. GREGORY MANKIW PRINCIPLES OF ECONOMICS Eight Edition CHAPTER Interdependence and the Gains from Trade
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 1
management system for classroom use.
Look for the answers to these questions:
• Why do people – and nations – choose to
be economically interdependent?
• How can trade make everyone better off?
• What is absolute advantage?
• What is comparative advantage?
• How are these concepts similar? • How are they different?
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 2
management system for classroom use. Interdependence Every day you rely on many hair gel from people from Cleveland, OH around the world, most of cell phone whom you’ve from Taiwan never met, to dress shirt provide you from China with the goods and services you coffee from enjoy. Kenya
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 3
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Interdependence
• – One of the Ten Principles from Chapter 1
– We now learn why people – and nations – choose to be interdependent
– And how they can gain from trade
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 4
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. ASK THE EXPERTS
Trade between China and the United States
“Trade with China makes most Americans
better off because, among other advantages,
they can buy goods that are made or
assembled more cheaply in China.”
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use as
permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 5
management system for classroom use. Our Example • Two countries: – The U.S. and Japan • Two goods: – Computers and wheat • One resource: – Labor, measured in hours
• How much of both goods each country produces and consumes
– If the country chooses to be self-sufficient
– If it trades with the other country
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 6
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Our Example
• Production Possibilities in the U.S.
– The U.S. has 50,000 hours of labor
available for production, per month
– Producing one computer requires 100 hours of labor
– Producing one ton of wheat requires 10 hours of labor
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 7
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. The U.S. PPF Wheat The U.S. has (tons) enough labor to 5,000 produce 500 computers, 4,000 or 5,000 tons of 3,000 wheat, 2,000 or any combination 1,000 along the PPF. Computers 0 100 200 300 400 500
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 8
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. The U.S. Without Trade Wheat Suppose the U.S. (tons) uses half its labor to 5,000 produce each of the two goods. 4,000 Then it will produce 3,000 and consume 250 2,000 computers and 2,500 tons of wheat. 1,000 Computers 0 100 200 300 400 500
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 9
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Active Learning 1 Derive Japan’s PPF
Use the following information to draw Japan’s PPF.
– Japan has 30,000 hours of labor available for production, per month.
– Producing one computer requires 125 hours of labor.
– Producing one ton of wheat requires 25 hours of labor.
• Your graph should measure computers on the horizontal axis.
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 10
management system for classroom use. Active Learning 1 Japan’s PPF Wheat Japan has enough labor to (tons) produce 240 computers, 2,000 or 1,200 tons of wheat, or any combination along 1,000 the PPF. Computers 0 100 200 300
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 11
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Japan Without Trade Wheat Suppose Japan uses (tons) half its labor to produce each good. 2,000 Then it will produce and consume 120 1,000 computers and 600 tons of wheat. Computers 0 100 200 300
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 12
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use.
Consumption With and Without Trade • Without trade:
• U.S. consumers get 250 computers and 2500 tons wheat
• Japanese consumers get 120 computers and 600 tons wheat • Comparison
– Consumption without trade vs. consumption with trade
– We need to see how much of each good is
produced and traded by the two countries
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 13
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Active Learning 2 Production under trade
A. Suppose the U.S. produces 3400 tons of wheat.
– How many computers would the U.S. be able
to produce with its remaining labor?
– Draw the point representing this combination
of computers and wheat on the U.S. PPF.
B. Suppose Japan produces 240 computers.
– How many tons of wheat would Japan be able
to produce with its remaining labor?
– Draw this point on Japan’s PPF.
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 14
management system for classroom use. Active Learning 2 A. U.S. Production With Trade Wheat Producing 3,400 tons of (tons) wheat requires 34,000 5,000 labor hours. 4,000 The remaining 16,000 3,000 labor hours are used to produce 160 computers. 2,000 1,000 Computers 0 100 200 300 400 500
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 15
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use.
Active Learning 2 B. Japan’s Production With Trade Wheat Producing 240 (tons) computers requires all of Japan’s 30,000 labor 2,000 hours. So, Japan would produce 1,000 0 tons of wheat. Computers 0 100 200 300
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 16
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Exports and Imports • Imports
– Goods produced abroad and sold domestically • Exports
– Goods produced domestically and sold abroad
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 17
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use. Active Learning 3 Consumption under trade
Suppose the U.S. exports 700 tons of wheat
to Japan, and imports 110 computers from
Japan. (Japan imports 700 tons wheat and exports 110 computers.)
A. How much of each good is consumed in
the U.S.? Plot this combination on the U.S. PPF.
B. How much of each good is consumed in
Japan? Plot this combination on Japan’s PPF.
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning 18
management system for classroom use.
Active Learning 3 A. U.S. Consumption With Trade Wheat computers wheat (tons) produced 160 3400 5,000 + imported 110 0 4,000 – exported 0 700 = amount 270 2700 3,000 consumed 2,000 1,000 Computers 0 100 200 300 400 500
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 19
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use.
Active Learning 3 B. Japan’s Consumption With Trade computers wheat Wheat produced 240 0 (tons) + imported 0 700 2,000 – exported 110 0 = amount 130 700 consumed 1,000 Computers 0 100 200 300
© 2018 Cengage Learning®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part, except for use 20
as permitted in a license distributed with a certain product or service or otherwise on a password-protected website or school-approved learning
management system for classroom use.

Tài liệu liên quan: