国际经济学复习范围.docx

国际经济学复习范围.docx

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国际经济学复习范围

《国际经济学》复习围

题型：

一、名词解释（共5小题，每小题3分，共15分）

二、判断题（共15小题，每小题1分，共15分）

三、简答题（共5小题，每小题8分，共40分）

四、论述题（共2题，每题15分，共30分）

围：

I.Explainthefollowingterms.

1.Interindustrytrade

2.Intraindustrytrade

3.Intraproducttrade

4.TheBalanceofPayment

Acountry’sbalanceofpaymentsaccountskeeptrackofbothitspaymentstoanditsreceiptsfromforeigners.

Everyinternationaltransactionautomaticallyentersthebalanceofpaymentstwice:

onceasacredit（+）andonceasadebit（-）.

5.ComparativeAdvantage

Acountryhasacomparativeadvantageinproducingagoodsiftheopportunitycostofproducingthatgoodsintermsofothergoodsislowerinthatcountrythanitisinothercountries.

6.Stolper-SamuelsonTheorem（effect）

Iftherelativepriceofagoodincreases,holdingfactorsuppliesconstant,thenthenominalandrealreturn（intermsofbothgoods）tothefactorusedintensivelyintheproductionofthatgoodincreases,whilethenominalandrealreturn（intermsofbothgoods）totheotherfactordecreases.

Thereverseisalsotrue.

7.Heckscher-OhlinTheorem

Acountrywillexportthatcommoditywhichusesintensivelyitsabundantfactorandimportthatcommoditywhichusesintensivelyitsscarcefactor.

8.Factor-PriceEqualizationTheorem

Internationaltradeleadstocompleteequalizationintherelativeandabsolutereturnstohomogeneousfactorsacrosscountries.

Itimpliesthatinternationaltradeisasubstitutefortheinternationalmobilityoffactors.

9.Optimumtariff

Thetariffratethatmaximizesnationalwelfare

Itisalwayspositivebutlessthantheprohibitiveratethatwouldeliminateallimports.

Itiszeroforasmallcountrybecauseitcannotaffectitstermsoftrade.

10.ExchangeRateOvershooting

11.purchasingpowerparity（PPP）

Theexchangeratebetweentwocounties’currenciesequalstheratioofthecounties’pricelevels.

Itcomparesaveragepricesacrosscountries.

12.Lawofoneprice

Identicalgoodssoldindifferentcountriesmustsellforthesamepricewhentheirpricesareexpressedintermsofthesamecurrency.

13.TheFisherEffect

Itisahypothesisininternationalfinancethatsuggestsdifferencesinnominalinterestratesreflectexpectedchangesinthespotexchangeratebetweencountries.hehypothesisspecificallystatesthataspotexchangerateisexpectedtochangeequallyintheoppositedirectionoftheinterestratedifferential.

14.TheJ-Curve

Ifimportsandexportsadjustgraduallytorealexchangeratechanges,theCAmayfollowaJ-curvepatternafterarealcurrencydepreciation,firstworseningandthenimproving.ItdescribesthetimelagwithwhicharealcurrencydepreciationimprovestheCA.

15.managedfloatingexchangerates

Asysteminwhichgovernmentsattempttomoderateexchangeratemovementswithoutkeepingexchangeratesrigidlyfixed.

16.sterilizedintervention

Centralbankssometimescarryoutequalforeignanddomesticassettransactionsinoppositedirectionstonullifytheimpactoftheirforeignexchangeoperationsonthedomesticmoneysupply.

17.Capitalflight

Thereservelossaccompanyingadevaluationscare

Theassociateddebitinthebalanceofpaymentsaccountsisaprivatecapitaloutflow.

18.vehiclecurrency

Acurrencythatiswidelyusedtodenominateinternationalcontractsmadebypartieswhodonotresideinthecountrythatissuesthevehiclecurrency.

19.interestparity

InterestParity:

TheBasicEquilibriumCondition

Theforeignexchangemarketisinequilibriumwhendepositsofallcurrenciesofferthesameexpectedrateofreturn.Theexpectedreturnsondepositsofanytwocurrenciesareequalwhenmeasuredinthesamecurrency.

20.inflationbias

Highinflationwithnoaveragegaininoutputthatresultsfromgovernments’policiestopreventrecession

II.GiveaT（True）oraF（False）foreachofthefollowingsayings.

涉及每章重要的知识点。

III.Answerthefollowingquestions.

1．Howaboutthebasicreasonsforwhichcountriesengageininternationaltrade?

Countriesengageininternationaltradefortwobasicreasons:

Theyaredifferentfromeachotherintermsofclimate,land,capital,labor,andtechnology.

Theytrytoachievescaleeconomiesinproduction.

2.WhataboutthebasicviewpointsoftheHeckscher-Ohlintheory?

Intherealworld,whiletradeispartlyexplainedbydifferencesinlaborproductivity,italsoreflectsdifferencesincountries’resources.

TheHeckscher-Ohlintheory:

Emphasizesresourcedifferencesastheonlysourceoftrade

Showsthatcomparativeadvantageisinfluencedby:

Relativefactorabundance（referstocountries）

Relativefactorintensity（referstogoods）

Isalsoreferredtoasthefactor-proportionstheory

3.HowabouttheInternationaleffectsofexport-biasedandimport-biasedgrowth?

Export-biasedgrowthintherestoftheworldimprovesourtermsoftrade,whileimport-biasedgrowthabroadworsensourtermsoftrade.

Export-biasedgrowthinourcountryworsensourtermsoftrade,reducingthedirectbenefitsofgrowth,whileimport-biasedgrowthleadstoanimprovementofourtermsoftrade.

4.Comparetheeffectsofatariffandofanexportsubsidyonthetermsoftrade.

Importtariffsandexportsubsidiesaffectbothrelativesupplyandrelativedemand.

RelativeDemandandSupplyEffectsofaTariff

Tariffsdriveawedgebetweenthepricesatwhichgoodsaretradedinternationally（externalprices）andthepricesatwhichtheyaretradedwithinacountry（internalprices）.

Thetermsoftradecorrespondtoexternal,notinternal,prices.

EffectsofanExportSubsidy

Tariffsandexportsubsidiesareoftentreatedassimilarpoliciesbuttheyhaveoppositeeffectsonthetermsoftrade.

Example:

SupposethatHomeoffers20%subsidyonthevalueofclothexported:

ThiswillraiseHome’sinternalpriceofclothrelativetofoodby20%.

ThiswillleadHomeproducerstoproducemoreclothandlessfood.

AHomeexportsubsidyworsensHome’stermsoftradeandimprovesForeign’s.

5.Howtoexplainthateconomiesofscalecanbeeitherexternalandinternal?

Economiesofscalecanbeeither:

External

Thecostperunitdependsonthesizeoftheindustrybutnotnecessarilyonthesizeofanyonefirm.

Anindustrywilltypicallyconsistofmanysmallfirmsandbeperfectlycompetitive.

Internal

Thecostperunitdependsonthesizeofanindividualfirmbutnotnecessarilyonthatoftheindustry.

Themarketstructurewillbeimperfectlycompetitivewithlargefirmshavingacostadvantageoversmall.

Bothtypesofscaleeconomiesareimportantcausesofinternationaltrade.

6.Howaboutthebasicreasonswhyaclusteroffirmsmaybemoreefficientthananindividualfirminisolation?

Therearethreemainreasonswhyaclusteroffirmsmaybemoreefficientthananindividualfirminisolation:

Specializedsuppliers

Inmanyindustries,theproductionofgoodsandservicesandthedevelopmentofnewproductsrequirestheuseofspecializedequipmentorsupportservices.

Anindividualcompanydoesnotprovidealargeenoughmarketfortheseservicestokeepthesuppliersinbusiness.

Alocalizedindustrialclustercansolvethisproblembybringingtogethermanyfirmsthatprovidealargeenoughmarkettosupportspecializedsuppliers.

Labormarketpooling

Aclusteroffirmscancreateapooledmarketforworkerswithhighlyspecializedskills.

Itisanadvantagefor:

Producers

Theyarelesslikelytosufferfromlaborshortages.

Workers

Theyarelesslikelytobecomeunemployed.

Knowledgespillovers

Knowledgeisoneoftheimportantinputfactorsinhighlyinnovativeindustries.

Thespecializedknowledgethatiscrucialtosuccessininnovativeindustriescomesfrom:

Researchanddevelopmentefforts

Reverseengineering

Informalexchangeofinformationandideas

7.Howabouttheeffectsofanexportsubsidy?

Exportsubsidy

Apaymentbythegovernmenttoafirmorindividualthatshipsagoodabroad

Itcanbeeitherspecificoradvalorem.

Anexportsubsidyraisespricesintheexportingcountrywhileloweringthemintheimportingcountry.

Inaddition,andincontrasttoatariff,theexportsubsidyworsensthetermsoftrade.

Anexportsubsidyunambiguouslyleadstocoststhatexceeditsbenefits.

8.Trytocomparetheoptionsofimport-substitutingindustrializationandexport-orientedindustrialization.

Atariffthatreducesimportsalsonecessarilyreducesexports.

Untilthe1970smanydevelopingcountrieswereskepticalaboutthepossibilityofexportingmanufacturedgoods.

Inmanycases,import-substitutingindustrializationpoliciesdovetailednaturallywithexistingpoliticalbiases.

9.Whatarethevolumeeffectandvalueeffectofarealexchangerate?

10.HowdoesdisposableincomechangesaffecttheCurrentAccount?

Anincreaseindisposableincome（Yd）worsenstheCA.

AriseinYdcausesdomesticconsumerstoincreasetheirspendingonallgoods.

11.Howabouttheinterestparityconditions?

Theexpectedreturnsondepositsofanytwocurrenciesareequalwhenmeasuredinthesamecurrency.

Itimpliesthatpotentialholdersofforeigncurrencydepositsviewthemallasequallydesirableassets.

Theexpectedratesofreturnareequalwhen:

R$=R€+（Ee$/€-E$/€）/E$/€

12.Howdochangesinthecurrentexchangerateaffectexpectedreturns?

Depreciationofacountry’scurrencytodaylowerstheexpecteddomesticcurrencyreturnonforeigncurrencydeposits.

Appreciationofthedomesticcurrencytodayraisesthedomesticcurrencyreturnexpectedofforeigncurrencydeposits.

13.Howabouttheeffectofchangingexpectationsonthecurrentexchangerate?

TheEffectofChangingExpectationsontheCurrentExchangeRate

Ariseintheexpectedfutureexchangeratecausesariseinthecurrentexchangerate.

Afallintheexpectedfutureexchangeratecausesaf