国际财务管理课件克鲁格曼网上

1、Chapter 1IntroductionPrepared by Iordanis PetsasTo pany International Economics: Theory and Policy, Sixth Editionby Paul R. Krugman and Maurice ObstfeldCopyright 2003 Pearson Education, Inc.Slide 1-2Chapter OrganizationIntroductionWhat is International Economics About?International Economics: Trade

2、and MoneyCopyright 2003 Pearson Education, Inc.Slide 1-3The study of international economics has never been as important as it is now.At the beginning of the 21st century, nations are more closely linked through trade in goods and services, through flows of money, and through investment in each othe

3、rs economies than ever before.Figure 1-1 shows that international trade for the United States has roughly tripled in importance compared with the U.S. economy as a whole.IntroductionCopyright 2003 Pearson Education, Inc.Slide 1-4Figure 1-1: Exports and Imports as a Percentage of U.S. National eIntro

4、ductionCopyright 2003 Pearson Education, Inc.Slide 1-5Figure 1-2: Exports and Imports as Percentages of National e in 1994IntroductionCopyright 2003 Pearson Education, Inc.Slide 1-6International economics deals with economic interactions that occur between independent nations.The role of governments

5、 in regulating international trade and investment is substantial. Analytically, international markets allow governments to discriminate against a subgroup of companies.Governments also control the supply of currency.There are several issues that recur throughout the study of international economics.

6、What is International Economics About?Copyright 2003 Pearson Education, Inc.Slide 1-7The Gains from TradeMany people are skeptical about importing goods that a country could produce for itself.When countries sell goods to one another, all countries benefit.Trade and e distributionInternational trade

7、 might hurt some groups within nations.Trade, technology, and wages of high and low-skilled workers.What is International Economics About?Copyright 2003 Pearson Education, Inc.Slide 1-8The Pattern of Trade (who sells what to whom?)Climate and resources determine the trade pattern of several goods.In

8、 manufacturing and services the pattern of trade is more subtle.There are two types of trade:Interindustry trade depends on differences across countries.Intraindustry trade depends on market size and occurs among similar countries.What is International Economics About?Copyright 2003 Pearson Educatio

9、n, Inc.Slide 1-9How Much Trade?Many governments are trying to shield certain industries from international competition.This has created the debate dealing with the costs and benefits of protection relative to free trade.Advanced countries policies engage in industrial targeting.Developing countries

10、policies promote industrialization:Import substitution versus export promotion industrialization.What is International Economics About?Copyright 2003 Pearson Education, Inc.Slide 1-10The Balance of PaymentsSome countries run large trade surpluses.For example, in 1998 both China and South Korea ran t

11、rade surpluses of about $40 billion each.Is it good to run a trade surplus and bad to run a trade deficit?Exchange Rate DeterminationThe role of changing exchange rates is at the center of international economics.What is International Economics About?Copyright 2003 Pearson Education, Inc.Slide 1-11W

12、hat is International Economics About?International Policy CoordinationA fundamental problem in international economics is how to produce an acceptable degree of harmony among the international trade and monetary policies of different countries without a world government that tells countries what to

13、do.The International Capital MarketThere are risks associated with international capital markets:Currency depreciationNational defaultCopyright 2003 Pearson Education, Inc.Slide 1-12International Economics: Trade and MoneyInternational trade analysis focuses primarily on the real transactions in the

14、 international economy.These transactions involve a physical movement of goods or a tangible commitment of economic resources.Example: The conflict between the United States and Europe over Europes subsidized exports of agricultural productsCopyright 2003 Pearson Education, Inc.Slide 1-13Internation

15、al monetary analysis focuses on the monetary side of the international economy. That is, financial transactions such as foreign purchases of U.S. dollars.Example: The dispute over whether the foreign exchange value of the dollar should be allowed to float freely or be stabilized by government action

16、International Economics: Trade and MoneyCopyright 2003 Pearson Education, Inc.Slide 1-14International trade issuesPart I: International Trade TheoryPart II: International Trade PolicyInternational monetary issuesPart III: Exchange Rates and Open-Economy MacroeconomicsPart IV: International Macroeconomic PolicyInternational Economics: Trade and MoneyCopyright 2003 Pearson Education, Inc.Slide 1-15中文参考文献本书中译本，2003，中国人民大学出版社林德特，国际经济学，1992，经济科学出版社Dominick，国际经济学，1998，清华大学出版社