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1、InternationalEconomicsPartⅠChapter1IntroductionAssessmentandRequirements.Assessmentisbasedontwoparts:oneisfinalexam(70%),andtheotheristake-homework,classparticipationandperformance(30%).Whoeverisabsentfromclassfor5timesthissemesterisnotqualifiedtotakefina
2、lexam.1.1TheImportanceofInt’lEconomics——Usuallywe’llpurchasesomegoodsmadeinandimportedfromothercountries.Ifwetraveltoabroad,weneedtoexchangeRMBforforeignexchangesOurnewsprogramsandthepagesofourdailynewspapersarefilledwithreportsoftradecontroversiesbetween
3、ChinaandU.S.A.,EuropeandJapan,demandsforprotectionofourautomobile,agricultureandserviceindustries.FearsthatU.S.,EuropeandJapanwillturnprotectionist,complaintsthatdevelopedcountriesimposetradebarrierstoimpedeourproductstobesoldinthesecountriesandsoon___Sim
4、ilarly,concernisoftenexpressedabouttheproblemsarisingfromint’lcapitalmovementsandfinancialliberalization___Allofthethesetopicsareeitherdirectlyorindirectlythesubjectmatterofint’leconomics.Someknowledgeofint’leconomicsisthusnecessarytounderstandwhatgoesoni
5、ntheworld___Onamorepracticallevel,thestudyofint’leconomicsisrequiredfornumerousjobsinTNCs,int’lbanking,gov’tagenciesandint’lorganizations1.2Int’lTradeandtheNation’sStandardofLivingInterdependenceistheimportanttooltomeasuretheeconomicrelationshipamongnatio
6、ns.Withtheglobalintegration,theeconomicrelationshipamongnationsismoreinterdependent.UsuallyweusethetermofInterdependencetomeasuretheeconomicrelationshipamongnations.InterdependencereferstotheratiooftheirimportsandexportsofgoodsandservicestotheirGDP.Thegre
7、atertheratio,themoreimportantint’ltradetothesenations.Theeconomicinterdependenceamongnationshasbeenincreasingoveryears---morerapidgrowthofworldtradethanworldproduction.(p.5)Therearemanycommodities(Cocoa,coffee)thatthecountrydoesnotproduceatall;Eachnationh
8、asdifferentresourcesendowment.Somehaveabundantdepositsoftin,copper,whileothershaveabundantdepositsofpetroleum;Tradecanresultingainsfromtrade,becausemanyproductscanbeproduceddomesticallybutonlyatahighercostthanabroad
