applied micro economics: international trade and government chapter 5 matakuliah: f0882 - economic...
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Bina Nusantara University 3 Learning Outcomes The Nature of International Trade Comparative Advantage among Nations Protectionism Government Control of the Economy Government Expenditures Economics Aspects of Taxation Antitrust PolicyTRANSCRIPT
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APPLIED MICRO ECONOMICS: INTERNATIONAL TRADE AND
GOVERNMENTChapter 5
Matakuliah : F0882 - Economic AnalysisTahun : 2009
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Bina Nusantara University 3
Learning Outcomes• The Nature of International Trade• Comparative Advantage among Nations• Protectionism• Government Control of the Economy• Government Expenditures• Economics Aspects of Taxation• Antitrust Policy
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The Nature of International TradeInternational vs. Domestic Trade1. Expanded trading opportunities2. Sovereign nations3. Exchange rate
The Sources of International Trade In Goods and Services
1. Diversity in Natural Resources2. Differences in Tastes3. Differences in Cost
Bina Nusantara University 4
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Comparative Advantage Illustrated
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With Many Commodities, There Is a Spectrum of Comparative Advantages
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Triangular Trade Benefits All
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Protectionism1. Supply and Demand Analysis of Trade and Tariffs
Free Trade vs. No Trade, Trade Barriers, The Economic Cost of Tariffs
2. Tariffs create economics inefficiency. When tarrifs are imposed, the economic loss to consumers exceeds the revenue gained by the government plus the extra profits earned by producers.
Bina Nusantara University 8
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Effect of a Tariff
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Economic Cost of a Tariff
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Government Taxation and Expenditure
The Tools of Government Policy1. Taxes2. Expenditures3. Regulations.
Bina Nusantara University 11
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Government’s Share of the Economy Has Grown Sharply
Chapter 16 Figure 16-1
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Government Spending Is Highest in High-Income Lands, 1999
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The Functions of Government1. Improving Economic efficiency2. Reducing economic inequality3. Stabilizing the economy through macroeconomic
policies4. Conducting international economic policy.
Bina Nusantara University 14
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Antitrust Policy