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《国际经济学》复习范围
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）
范围：
I. Explain the following terms. 1. Interindustry trade 2. Intraindustry trade 3. Intraproduct trade
4. The Balance of Payment
A country’s balance of payments accounts keep track of both its payments to and its receipts from foreigners.
Every international transaction automatically enters the balance of payments twice: once as a credit (+) and once as a debit (-). 5. Comparative Advantage
A country has a comparative advantage in producing a goods if the opportunity cost of producing that goods in terms of other goods is lower in that country than it is in other countries.
6. Stolper-Samuelson Theorem (effect)
If the relative price of a good increases, holding factor supplies constant, then the nominal and real return (in terms of both goods) to the factor used intensively in the production of that good increases, while the nominal and real return (in terms of both goods) to the other factor decreases. The reverse is also true.
7. Heckscher-Ohlin Theorem
A country will export that commodity which uses intensively its abundant factor and import that commodity which uses intensively its scarce factor.
8. Factor-Price Equalization Theorem
International trade leads to complete equalization in the relative and absolute returns to homogeneous factors across countries.
It implies that international trade is a substitute for the international mobility of factors.
9. Optimum tariff
The tariff rate that maximizes national welfare
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It is always positive but less than the prohibitive rate that would eliminate all imports. It is zero for a small country because it cannot affect its terms of trade.
10. Exchange Rate Overshooting
11. purchasing power parity (PPP)
The exchange rate between two counties’ currencies equals the ratio of the counties’ price levels.
It compares average prices across countries.
12. Law of one price
Identical goods sold in different countries must sell for the same price when their prices are expressed in terms of the same currency.
13. The Fisher Effect
It is a hypothesis in international finance that suggests differences in nominal interest rates reflect expected changes in the spot exchange rate between countries. he hypothesis specifically states that a spot exchange rate is expected to change equally in the opposite direction of the interest rate differential.
14.The J-Curve
If imports and exports adjust gradually to real exchange rate changes, the CA may follow a J-curve pattern after a real currency depreciation, first worsening and then improving. It describes the time lag with which a real currency depreciation improves the CA.
15. managed floating exchange rates
A system in which governments attempt to moderate exchange rate movements without keeping exchange rates rigidly fixed. 16. sterilized intervention
Central banks sometimes carry out equal foreign and domestic asset transactions in opposite directions to nullify the impact of their foreign exchange operations on the domestic money supply. 17. Capital flight
The reserve loss accompanying a devaluation scare
The associated debit in the balance of payments accounts is a private capital outflow.
18.vehicle currency
A currency that is widely used to denominate international contracts made by parties who do not reside in the country that issues the vehicle currency.
19.interest parity
Interest Parity: The Basic Equilibrium Condition
The foreign exchange market is in equilibrium when deposits of all currencies offer the same expected rate of return.The expected returns on deposits of any two
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currencies are equal when measured in the same currency. 20.inflation bias
High inflation with no average gain in output that results from governments’ policies to prevent recession
II. Give a T(True) or a F(False) for each of the following sayings. 涉及每章重要的知识点。
III. Answer the following questions.
1． How about the basic reasons for which countries engage in international trade?
Countries engage in international trade for two basic reasons:
They are different from each other in terms of climate, land, capital, labor, and technology.
They try to achieve scale economies in production.
2.What about the basic viewpoints of the Heckscher-Ohlin theory?
In the real world, while trade is partly explained by differences in labor productivity, it also reflects differences in countries’ resources.
The Heckscher-Ohlin theory:
Emphasizes resource differences as the only source of trade Shows that comparative advantage is influenced by: Relative factor abundance (refers to countries) Relative factor intensity (refers to goods)
Is also referred to as the factor-proportions theory
3.How about the International effects of export-biased and import-biased growth?
Export-biased growth in the rest of the world improves our terms of trade, while import-biased growth abroad worsens our terms of trade.
Export-biased growth in our country worsens our terms of trade, reducing the direct benefits of growth, while import-biased growth leads to an improvement of our terms of trade.
4.Compare the effects of a tariff and of an export subsidy on the terms of trade.
Import tariffs and export subsidies affect both relative supply and relative demand.
Relative Demand and Supply Effects of a Tariff
Tariffs drive a wedge between the prices at which goods are traded internationally (external prices) and the prices at which they are traded within a country (internal prices).
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国际经济学复习范围
