2022/3/252022/3/25 11
Opportunity cost
and trade
one do you choose?
21 3
2022/3/252022/3/25
Which opportunity would you choose？
2022/3/252022/3/25
Opportunity cost
Opportunity cost is whatever must
be given up to obtain some item.
2022/3/252022/3/25
face tradeoffs.
“There is no such thing
as a free lunch!”
2022/3/252022/3/25
2. People face tradeoffs.
To get one thing, we usually have
to give up another thing.
u Guns v. butter
u Food v. clothing
u Leisure time v. work
u Efficiency v. equity
Making decisions requires trading off one goal
against another.
2022/3/252022/3/25
2. People face tradeoffs.
u Efficiency means society gets the
most that it can from its scarce
resources.
u Equity means the benefits of
those resources are distributed
fairly among the members of
society.
Efficiency v. Equity
2022/3/252022/3/25
3. The cost of something is
what you give up to get it.
Decisions require comparing costs
and benefits of alternatives.
u Whether to go to college or to
work?
u Whether to study or go out on a
date?
u Whether to go to class or sleep
in?
2022/3/252022/3/25
. The cost of something is what
you give up to get it
The opportunity cost of an item
is what you give up to obtain that
item.
2022/3/252022/3/25
Premises： Multiple options
Scarcity
3. The Cost of Something Is What
You Give Up to Get It.
LA Laker basketball
star Kobe Bryant
chose to skip college
and go straight from
high school to the pros
where he has earned
millions of dollars.
2022/3/252022/3/25
Example
Mr. Wang is the manager in a
company. He has a storefront which
is suitable to establish a small shop
so he decided to operate the
business.
– EExpected xpected investment:investment: 200,000 yuan 200,000 yuan
– Hire 2 EmployeesHire 2 Employees2022/3/25 11
2022/3/25
According to the analysis of According to the analysis of the the situation like situation like
the the locationlocation and the resident population, he and the resident population, he
estimated estimated the the sales in one year as followssales in one year as follows::
Sales revenue - Stock cost = Gross profit
480,000 - 320,000 = 160,000
Other costs
Wages to employees 60,000
taxes 10,000
Water and Electricity 10,000
Net profit: 80,000
2022/3/25 12
Have all costs been fully
taken into account?
– Capital interest
Interest rate 5%Interest rate 5%:10,000 per year:10,000 per year
– Time and ability
Salary for manager: 80,000 per yearSalary for manager: 80,000 per year
– Rent
The rent of his storefront: 60,000 per yearThe rent of his storefront: 60,000 per year
2022/3/252022/3/25
Profit calculation
Sales revenue - Stock cost = Gross profit
360,000 - 200,000 = 160,000
Other costs
Wages to employees 60,000
taxes 10,000
Water and Electricity 10,000
Capital interest 10,000
Time and ability 80,000
Rent 60,000
Net profit: -70,000
2022/3/252022/3/25
2022/3/25 15
According to this result，should he
resign to establish and manage the
shop?
No!
2022/3/25 15
Scarcity and Choice for
Individuals
Opportunity Cost (of a choice): the
value of the best alternative that
was not chosen because something
else was chosen.
Premises： Multiple options
Scarcity
16162022/3/252022/3/25
Conclusions
Opportunity cost is an important economic Opportunity cost is an important economic
.
Opportunity cost is closely related to other Opportunity cost is closely related to other
important economical concepts, . important economical concepts, .
comparative advantage.
2022/3/252022/3/25
Opportunity Cost, an example:
What is the opportunity cost of
attending an 8 . economics
class?
To answer this question, think of
all the other activities you could
do at this exact time, and rank
these choices (from most
preferred to least preferred).
2022/3/252022/3/25
Opportunity Cost, an example:
At 8 ., you could sleep a bit
more, have a longer breakfast, take
more time to walk to school, watch
the early morning news, etc.
Since you made a choice to come to
your 8 . economics class, then
the best alternative that you DID
NOT choose is your opportunity
cost. If you value sleep the most,
then sleeping is your opportunity
2022/3/252022/3/25 2020
3、
What is your opportunity cost of a
4-year degree at SICHUAN
University?
For an economist,
the cost of something is not just the
cash payment, but all of the value
given up in the process of acquiring
the thing.
For example, the cost of a university
education involves tuition, and text
book purchases,and also the wages
that would have been earned during
the time at university, but were not.
21212022/3/252022/3/25
Opportunity Costs: Community College
and the Economic Downturn
In 2008-2009 when the economy
was experiencing a recession
(subprime crisis), many community
colleges reported increased
enrollments at approximately 10
percent over the previous year.
Can you use the concept of
opportunity costs to explain why
this might be so?
2022/3/252022/3/25
Interdependence and
the Gains from Trade
2022/3/252022/3/25 2323
Interdependence and Trade
Consider typical day for an AmericanConsider typical day for an American
uu You wake up to an alarm clock made in wake up to an alarm clock made in Korea.
uu You pour yourself some orange juice made from You pour yourself some orange juice made from
oranges grown in grown in Florida.
uu You put on some clothes made of cotton grown in You put on some clothes made of cotton grown in
Georgia and sewn in factories in and sewn in factories in Thailand.
uu You watch the morning news broadcast from New You watch the morning news broadcast from New
York on your TV made in on your TV made in Japan.
uu You drive to work in a car made of parts You drive to work in a car made of parts
manufactured in a half-dozen different in a half-dozen different countries.
…and you haven’t been up for more than two hours …and you haven’t been up for more than two hours
yet!yet!
2022/3/252022/3/25 2424
相互依存与贸易
看看你的每天日常生活看看你的每天日常生活::
uu早晨被产于韩国的闹钟叫醒；早晨被产于韩国的闹钟叫醒；
uu给自己倒了一杯佛罗里达产的橘子轧成的橘子汁；给自己倒了一杯佛罗里达产的橘子轧成的橘子汁；
uu穿上用佐治亚生产的棉花而在泰国缝制的衣服；穿上用佐治亚生产的棉花而在泰国缝制的衣服；
uu从日本产的电视上看纽约播放的新闻节目；从日本产的电视上看纽约播放的新闻节目；
uu你开着用来自全世界十几个国家生产的部件组装的汽车去你开着用来自全世界十几个国家生产的部件组装的汽车去
上学。上学。
……这些事只是发生在你的不到两个小时的生活中。这些事只是发生在你的不到两个小时的生活中。
2022/3/252022/3/25 2525
Interdependence and the
Gains from Trade
Remember, economics is the study
of how societies produce and
distribute goods in an attempt to
satisfy the wants and needs of
its members.
2022/3/252022/3/25 2626
相互依存与贸易的好处
记住，经济学是研究社会如何生
产和分配物品，以满足所有社会
成员的欲望和需要。
2022/3/252022/3/25 2727
How do we satisfy our wants and
needs in a global economy?
We can be economically self-
sufficient.
We can specialize and
trade with others,
leading to economic
interdependence.
2022/3/252022/3/25
在世界经济范围内，我们如何满足
自己的欲望和需要？
u我们可以在经济上自给自足。
u我们可以进行专业化分工，并与他
人进行贸易，从而形成经济上相互
依存的关系。
2022/3/252022/3/25
Interdependence and the Gains
from Trade
A general observation . . .
Individuals and nations rely on
specialized production and
exchange as a way to address
problems caused by scarcity.
2022/3/252022/3/25
相互依存与贸易的好处
一个一般性的观察结果 . . .
个人和国家依靠分工生产和交
换来解决稀缺带来的问题。
2022/3/252022/3/25
Interdependence and the Gains
from Trade
相互依存与贸易的好处
But, this gives rise to two questions:
但是，这会带来两个问题:
u Why is interdependence the norm?
为什么相互依存是正常现象?
u What determines production and
trade?
什么决定生产和贸易?
2022/3/252022/3/25
Why is interdependence the norm?
为什么相互依存是正常的?
Interdependence occurs because
people are better off when they
specialize and trade with others.
因为人们专业化分工并与他人交易能
使他们的福利变好，所以他们会形成
相互依存关系。
2022/3/252022/3/25
What determines the pattern
of production and trade?
什么决定生产和贸易？
Patterns of production and
trade are based upon
differences in opportunity costs.
生产和贸易的模式决定于各自机会成
本的不同。
2022/3/252022/3/25
Production Possibilities Curve: example
3,000
1,000
2,000
2,200
Production
possibilities
curve
A
B
C
Quantity of
cars produced
7006003000 1,000
Quantity of
Computers
produced
D
D - unattainable
A, C – efficient (any
points on PPC)
B – inefficient (any
points below PPC)
Lecture 1 Lecture 1
3636
Comparative advantage:
the basis for exchange
The concept of opportunity cost is fundamental The concept of opportunity cost is fundamental
to many economic ideas and many economic ideas and models.
An example is the notion of gains from example is the notion of gains from trade.
Trade allows people to specialise in what they Trade allows people to specialise in what they
do bestdo best, leading to a mutually beneficial , leading to a mutually beneficial
.
The concept of opportunity cost can be applied The concept of opportunity cost can be applied
to explainto explain
–– the pattern of specialization andthe pattern of specialization and
–– the terms of tradethe terms of trade
Lecture 1 Lecture 1
3737
Comparative advantage and trade
Imagine Imagine
–– OnlyOnly two goods ( two goods (carcar and and ricerice))
–– OnlyOnly two two countriescountries ( (AustraliaAustralia and and JapanJapan))
Resource endowmentResource endowment
–– Australia – 100 units of labour Australia – 100 units of labour
–– Japan – 500 units of labourJapan – 500 units of labour
TechnologyTechnology
–– Australia: 5 units of labour for 1 carAustralia: 5 units of labour for 1 car, 1 , 1 unit unit
of labour for 1 tonne of riceof labour for 1 tonne of rice
–– Japan: 10 units of labour for 1 carJapan: 10 units of labour for 1 car, , 5 units 5 units
of labour for of labour for 1 1 tonne of rice tonne of rice
ECF1100ECF1100 Lecture 1 Lecture 1
3838
Comparative advantage and trade
QuestionsQuestions
–– Should they trade?Should they trade?
–– If so, what should each produce?If so, what should each produce?
–– And at what termsAnd at what terms should they trade should they trade??
Without trade (self-sufficiency or autarky), Without trade (self-sufficiency or autarky),
each country chooses consumption allocation each country chooses consumption allocation
on its production possibilities its production possibilities curve.
Lecture 1 39
Self-Sufficiency: Australia
(a) Australia’s production possibilities curve
Rice
Car
100
20
25
15
A
PPC is a straight line with the
slope equal to __.
Australia’s opportunity cost of
1 car is __ tonnes of rice.
Australia’s opportunity cost of
1 tonne of rice is __ car.
Suppose Australia chooses
point A under self-sufficiency.
ECF1100 Lecture 1 40
Self-Sufficiency: Japan
(b) Japan’s production possibilities curve
Rice
Cars
100
50
50
25
B
PPC is a straight line with the
slope equal to __.
Japan’s opportunity cost of
1 car is __ tonnes of rice.
Japan’s opportunity cost of
1 tonne of rice is __ car.
Suppose Japan chooses
point B under self-sufficiency.
4141
Opportunity costs
Japan Australia
Cars
Rice
2 tonnes
of rice
½ car
5 tonnes
of rice
1/5 car
Australia: 5 units of labour for 1 car, 1 unit of labour for 1
tonne of rice
Japan: 10 units of labour for 1 car, 5 units of labour for 1
tonne of rice
ECF1100ECF1100 Lecture 1 Lecture 1
Specialisation and trade
AustraliaAustralia is absolutely better at both, but is absolutely better at both, but
relatively relatively better at better at producing rice.
Australia can produce both goods at a lower Australia can produce both goods at a lower
absolute cost (using fewer resources): absolute cost (using fewer resources):
Australia has an Australia has an absolute advantageabsolute advantage in both in both
.
But the opportunity cost of producing a car is But the opportunity cost of producing a car is
lower in Japan (2 tonnes of rice) than in lower in Japan (2 tonnes of rice) than in
Australia (5 tonnes of rice): Japan has a Australia (5 tonnes of rice): Japan has a
comparative advantagecomparative advantage in producing cars. in producing cars.
If they trade, what should each country If they trade, what should each country
produceproduce??
ECF1100ECF1100 Lecture 1 Lecture 1
4343
Specialisation and trade
Suppose the two countries specialise in what Suppose the two countries specialise in what
they have comparative advantages in: Australia they have comparative advantages in: Australia
uses all its resources producing 100 tonnes of uses all its resources producing 100 tonnes of
rice and Japan uses all its resources producing rice and Japan uses all its resources producing
50 cars. 50 cars.
As a result, the total output is larger for both As a result, the total output is larger for both
goods than consumption under self-sufficiency. goods than consumption under self-sufficiency.
TThey can make both better off by specialising hey can make both better off by specialising
and trading what they are and trading what they are comparatively bettercomparatively better
.
Example: Example: Australia Australia can trade can trade 60 tonnes of rice 60 tonnes of rice
for 20 carsfor 20 cars ( (called the called the terms of trade),terms of trade),
consuming (20, 40), giving Japan (30, 60).consuming (20, 40), giving Japan (30, 60).
ECF1100ECF1100Lecture 1 Lecture 1
4444
Consumption before (after)
trade
Japan Australia
Cars
Rice
25 (30)
50 (60)
15 (20)
25 (40)
Total
40 (50)
75 (100)
ECF1100ECF1100 Lecture 1 Lecture 1
4545
Opportunity cost and trade
Opportunity costs play two roles costs play two roles here.
First, it determines the pattern of First, it determines the pattern of
specialisation by determining comparative specialisation by determining comparative
.
Second, it tells us how the terms of trade Second, it tells us how the terms of trade
should be be determined.
In the example, any terms between 1 In the example, any terms between 1 car for car for
2 tonnes of rice (Japan’s opportunity cost) 2 tonnes of rice (Japan’s opportunity cost)
and 1 car for 5 tonnes of rice (Australia’s and 1 car for 5 tonnes of rice (Australia’s
opportunity cost) are cost) are acceptable.
Lecture 1 Lecture 1
4646
Comparative advantage and trade:
recap
Should they trade?Should they trade?
A:A:
If so, what should each produce?If so, what should each produce?
A:A:
And at what termsAnd at what terms should they trade should they trade??
A:A:
u Imagine . . .
¼only two goods: potatoes and meat
¼only two people: a potato farmer
and a cattle rancher
uu What should each produce?
uu Why should they trade?
A Parable for the Modern
Economy
2022/3/252022/3/25
u 设想 . . .
¼只有两种商品: 土豆和牛肉
¼只有两个人: 农场主和牧场主
uu 每个人应该生产什么?
uu 他们为什么应该交易?
一个现代经济学寓言
2022/3/252022/3/25
The Production Opportunities of
the Farmer and the Rancher
4949
农场主和牧场主的生产机会
5050
Self-Sufficiency
By ignoring each other:
u Each consumes what they each consumes what they each produce.
u The The production possibilities frontier(curve) production possibilities frontier(curve) is is
also thealso the consumption possibilities possibilities frontier.
Without trade, economic gains are
diminished.
2022/3/252022/3/25
自给自足
不考虑相互交易:
u 每个人消费的就是他所生产的。每个人消费的就是他所生产的。
u 生产可能性边界也是生产可能性边界也是消费可能性边界。消费可能性边界。
没有贸易，经济利益就会减少。
2022/3/252022/3/25
Production
Possibilities
Frontiers
Potatoes (ounces)
Meat
(ounces)
48
12
24
(b) The Rancher’s Production Possibilities Frontier
0
B If there is no trade,the
rancher chooses this
production and
consumption
24
5353
Production
Possibilitie
s Frontiers
Potatoes (ounces)
Meat
(ounces)
32
8
4
16
(a) The Farmer’s Production Possibilities Frontier
0
A
If there is no trade,the
farmer chooses this
production and
consumption
5454
生产可能性边界
土豆(盎司)
牛肉(盎司)
32
8
4
16
(a) 农场主的生产可能性边界
0
A
如果没有贸易，农场主选择
这个产量和消费量。
5555
生产可能性边界
土豆(盎司)
牛肉
(盎司)
48
12
24
(b)牧场主的生产可能性边界
0
B
如果没有贸易，牧场主选择这
个产量和消费量。
24
5656
The Farmer and the Rancher
Specialize and Trade
Each would be better off if they
specialized in producing the
product they are more suited to
produce, and then trade with
each other.
u The farmer should produce potatoes.
u The rancher should produce meat.
2022/3/252022/3/25
农场主和牧场主专业化分工并进行交易
如果每人生产他们更擅长生产的产品，
然后进行交易，他们每个人的福利会
变好。
u 农场主应该生产土豆。
u 牧场主应该生产牛肉。
2022/3/252022/3/25
The Gains from Trade: A Summary The Gains from Trade: A Summary
Copyright © 2004 South-Western 5959
表表 2 . 2 . 贸易贸易的好处的好处: : 总结总结
农场主 牧场主
没有贸易时的
生产量和消费量
牛肉 土豆 牛肉 土豆
4盎司 16盎司 12盎司 24盎司
6060
Table 2 The Gains from Trade: A SummaryTable 2 The Gains from Trade: A Summary
Copyright © 2004 South-Western
表表 2 . 2 . 贸易贸易的好处的好处: : 总结总结
农场主 牧场主
没有贸易时的
生产量和消费量
有贸易时的生产量
交易量
消费量
贸易的好处：
消费量的增加
牛肉 土豆 牛肉 土豆
4盎司 16盎司 12盎司 24盎
司
0盎司 32盎司 18盎司 12盎
司
得5盎司 给15盎司 给5盎司 得15盎
司 5盎司 17盎司 13盎司 27盎
司
1盎司 1盎司 1盎司 3盎
司 6262
Figure 2. Figure 2. How Trade Expands the
Set of Consumption Opportunities
Copyright©2003 Southwestern/Thomson Learning
Potatoes (ounces)
4
16
5
17
8
32
A
A*
0
Meat (ounces)
(a) The Farmer’s Production and Consumption
Farmer's
production and
consumption
without trade
Farmer's
consumption
with trade
Farmer's
production
with trade
6363
图图 2. 2. 贸易如何扩大了消费机会的集合贸易如何扩大了消费机会的集合
土豆 (盎司)
4
16
5
17
8
32
A
A*
0
牛肉（ 盎司)
(a) 农场主的生产和消费
没有贸易时农
场主的生产量
和消费量
有贸易时农场
主的消费量
有贸易时农场
主的生产量
6464
Figure 2 How Trade Expands the Set of Figure 2 How Trade Expands the Set of
Consumption OpportunitiesConsumption Opportunities
Potatoes (ounces)
12
24
13
27
B
0
Meat (ounces)
(b) The Rancher’s Production and Consumption
48
24
12
18
B*
Rancher's
consumption
with trade
Rancher's
production
with trade
Rancher's
production and
consumption
without trade
6565
图图.贸易如何扩大了消费机会的集合贸易如何扩大了消费机会的集合
土豆 (盎司)
12
24
13
27
B
0
牛肉（ 盎司)
(b)牧场主的生产和消费
’
48
24
12
18
B*
有贸易时牧场
主的消费量
有贸易时牧场
主的生产量
没有贸易时牧场
主的生产量和
消费量
6666
The Principle of
Comparative Advantage
u Who should produce what?Who should produce what?
u How much should be traded for each How much should be traded for each
product?product?
Who can produce potatoes at a lower
cost--the farmer or the rancher?
Differences in the costs of production
determine the following:
2022/3/252022/3/25
比较优势原理
u谁应该生产什么?
u每个产品的交换比例?
谁能以更低的成本生产土豆——农
场主还是牧场主？
生产成本的差异决定了：
2022/3/252022/3/25
Differences in Costs of Production
u The number of hours required to
produce a unit of output. (for
example, one pound of potatoes)
u The opportunity cost of
sacrificing one good for another.
Two ways to measure differences in
costs of production:
2022/3/252022/3/25
生产成本的差异
u 生产一个单位的产出（比如一盎司
土豆）所需要的时间（分钟数）。
u 机会成本：把资源用于生产一种物
品而放弃生产另一种物品的数量。
衡量生产成本差异的两种方法:
2022/3/252022/3/25
Absolute Advantage
u The comparison among producers
of a good according to their
productivity—absolute advantage。
u Describes the productivity of one person, Describes the productivity of one person,
firm, or nation compared to that of firm, or nation compared to that of
.
u The producer that requires a smaller The producer that requires a smaller
quantity of inputs to produce a good is said quantity of inputs to produce a good is said
to have an to have an absolute advantageabsolute advantage in producing in producing
that
绝对优势
u绝对优势——根据生产率比较一种
物品的不同生产者。
u 描述一个人、公司和国家相对于其他个人、描述一个人、公司和国家相对于其他个人、
公司和国家的生产率。公司和国家的生产率。
u 如果一个生产者生产一个单位的物品所需的如果一个生产者生产一个单位的物品所需的
投入要素比其他生产者少，就说该生产者在投入要素比其他生产者少，就说该生产者在
生产此物品上有绝对优势。生产此物品上有绝对优势。
2022/3/252022/3/25
Absolute Advantage
u The Rancher needs only 10 minutes to
produce a ounce of potatoes, whereas
the Farmer needs 15 minutes.
u The Rancher needs only 20 minutes to
produce a ounce of meat, whereas
the Farmer needs 60 minutes.
The Rancher has an absolute
advantage in the production of both
meat and potatoes.
2022/3/252022/3/25
绝对优势
u牧场主生产一盎司土豆只需要10分
钟，而农场主则需要15分钟。
u牧场主生产一盎司牛肉只需要20分
钟，而农场主则需要60分钟。
牧场主在生产牛肉和土豆方面
都有绝对优势
2022/3/252022/3/25
Opportunity Cost and
Comparative Advantageu Compares producers of a good
according to their opportunity
cost.
u The producer who has the smaller
opportunity cost of producing a
good is said to have a comparative
advantage in producing that good.
2022/3/252022/3/25
机会成本与比较优势
u根据机会成本比较一种物品的不
同生产者。
u如果一个生产者生产一种物品的机
会成本比其他生产者小，就说该生
产者在生产此物品上有比较优势。
2022/3/252022/3/25
Comparative Advantage and Trade
u Who has the absolute advantage?
The farmer or the rancher?
u Who has the comparative
advantage?
The farmer or the rancher?
2022/3/252022/3/25
比较优势与贸易
u 谁有绝对优势?
农场主还是牧场主?
u 谁有比较优势?
农场主还是牧场主?
2022/3/252022/3/25
The Opportunity Cost of Meat and
Potatoes
7979
牛肉和土豆的机会成本
一盎司牛肉的
机会成本
一盎司土豆的
机会成本
农场主 4盎司土豆 ¼盎司牛肉
牧场主 2盎司土豆 ½盎司牛肉
8080
Comparative Advantage and Trade
u The Rancher’s opportunity cost of an The Rancher’s opportunity cost of an
ounce of potatoes is 1/2 ounce of meat, ounce of potatoes is 1/2 ounce of meat,
whereas the Farmer’s opportunity cost of whereas the Farmer’s opportunity cost of
an ounce of potatoes is 1/4 an ounce of an ounce of potatoes is 1/4 an ounce of
.
u The Rancher’s opportunity cost of an The Rancher’s opportunity cost of an
ounce of meat is only 2 ounces pound of ounce of meat is only 2 ounces pound of
potatoes, while the Farmer’s opportunity potatoes, while the Farmer’s opportunity
cost of an ounce of meat is 4 ounces of cost of an ounce of meat is 4 ounces of
potatoes...potatoes...
2022/3/252022/3/25
比较优势与贸易
u牧场主生产一盎司土豆的机会成本
是1/2盎司牛肉，而农场主生产一
盎司土豆的机会成本是1/4盎司牛
肉。
u牧场主生产一盎司牛肉的机会成本
是2盎司土豆，而牧场主生产一盎
司牛肉的机会成本是4盎司土豆。
2022/3/252022/3/25
Comparative Advantage and Trade
…so, the Rancher has a
comparative advantage in the
production of meat but the
Farmer has a comparative
advantage in the production
of potatoes.
2022/3/252022/3/25
比较优势与贸易
所以，牧场主在生产牛肉上
有比较优势，而农场主在生
产土豆上有比较优势
2022/3/252022/3/25
Comparative Advantage and
Trade
u Comparative advantage and
differences in opportunity costs
are the basis for specialized
production and trade.
u Whenever potential trading
parties have differences in
opportunity costs, they can
each benefit from
比较优势与贸易
u比较优势和机会成本的差异是专
业化分工生产和贸易的基础。
u只要潜在的交易双方机会成本不
同，双方都能从贸易中获得利益。
2022/3/252022/3/25
Benefits of Trade 贸易的好处
Trade can benefit everyone in a
society because it allows people to
specialize in activities in which
they have a comparative
advantage.
贸易可以使社会中每一个人受益，因为
贸易可以使每个人从事自己有比较优势
的活动。
2022/3/252022/3/25 8787
Adam Smith and Trade
In his 1776 book An Inquiry into the
Nature and Causes of the Wealth of
Nations, Adam Smith performed a
detailed analysis of trade and
economic interdependence, which
economists still adhere to today.
2022/3/252022/3/25 8888
亚当. 斯密与贸易
在1776年的著作《国民财富的性质和原
因的研究》中，亚当. 斯密对贸易和相互
依存就进行了详细的分析，至今经济学家
还继承了这一分析。
2022/3/252022/3/25 8989
David Ricardo and Trade
大卫. 李嘉图和贸易
In his 1816 book Principles of
Political Economy and Taxation,
David Ricardo developed the principle
of comparative advantage as we
know it today.
在1817年的著作《政治经济学与税
赋原理》中，李嘉图提出了我们现在熟知
的比较优势原理。
2022/3/252022/3/25 9090
Should Tiger Woods Mow His Own Lawn?
泰格尔泰格尔. . 伍兹应该自己修剪草坪吗？伍兹应该自己修剪草坪吗？
? ?
APPLICATI APPVAOE ADVANTAGEAPPLICATIONS OF CAMPARATITE ADVANTAGE
比较优势的应用
9191
APPLICATIONS OF COMPARATIVE ADVANTAGEAPPLICATIONS OF COMPARATIVE ADVANTAGE
Should the United States Trade
with Other Countries?
Each country has many citizens
with different interests.
International trade can make some
individuals worse off, even as it
makes the country as a whole
better off.
–– ImportsImports—goods produced abroad and sold domestically—goods produced abroad and sold domestically
–– ExportsExports—goods produced domestically and sold abroad—goods produced domestically and sold abroad
2022/3/252022/3/25
比较优势的应用
美国应该与其他国家进行贸易吗美国应该与其他国家进行贸易吗??
每个国家都有许多具有不同利益的公民。尽每个国家都有许多具有不同利益的公民。尽
管国际贸易可以使整个国家的福利变好，但管国际贸易可以使整个国家的福利变好，但
也可能使一些个人福利变坏。也可能使一些个人福利变坏。
–– 进口进口——国外生产在国内销售的物品。
–– 出口出口——国内生产在国外销售的物品。
2022/3/252022/3/25
Summary
u Each person consumes goods
and services produced by many
other people both in our
country and around the world.
u Interdependence and trade
allow people to enjoy a greater
quantity and variety of goods
and services.
2022/3/252022/3/25
小结
u每个人都消费由国、内外许多其
他人生产的物品与劳务。
u相互依存和贸易可以使每个人享
用更多数量和品种的物品与劳务。
2022/3/252022/3/25
Summary
u There are two ways to
compare the ability of two
people producing a good.
u The person who can produce a good The person who can produce a good
with a smaller quantity of inputs has with a smaller quantity of inputs has
an absolute advantage. an absolute advantage.
u The person with a smaller opportunity The person with a smaller opportunity
cost has a comparative has a comparative advantage.
2022/3/252022/3/25
小结
u有两种方式比较一个生产者生产
一种物品的能力。
u 一个可以用更少量投入生产物品的生产者一个可以用更少量投入生产物品的生产者
被称为在生产这种物品上有绝对优势。被称为在生产这种物品上有绝对优势。
u 具有更小机会成本的生产者被称为有比较具有更小机会成本的生产者被称为有比较
优势。优势。
2022/3/252022/3/25
Summary
u The gains from trade are based on The gains from trade are based on
comparative advantage, not absolute comparative advantage, not absolute
advantage. advantage.
u Trade makes everyone better off because Trade makes everyone better off because
it allows people to specialize in those it allows people to specialize in those
activities in which they have a comparative activities in which they have a comparative
advantageadvantage。。
u Comparative advantage applies to countries Comparative advantage applies to countries
as well as to people. as well as to people. 2022/3/252022/3/25
小结
u贸易的好处基于比较优势，而不是
绝对优势。
u贸易可以使每一个人状况变好，因
为贸易可以使人们专门从事自己有
比较优势的活动。
u比较优势原理适用于国家和个人。
2022/3/252022/3/25
ECF1100ECF1100 Lecture 1 Lecture 1
100100ECF1100 Lecture 1 100
Irrelevance of sunk costs
Sunk costs are the costs that cannot be recovered at the Sunk costs are the costs that cannot be recovered at the
moment a decision is mademoment a decision is made
–– Expenditure on things that have no resale value or Expenditure on things that have no resale value or
alternative usesalternative uses
–– Examples: advance rent payment for office space, fees Examples: advance rent payment for office space, fees
paid for consulting services paid for consulting services
Generally, sunk costs should not matter in your decision-Generally, sunk costs should not matter in your decision-
.
Question: You’ve driven 30 km to buy a shirt at a discount Question: You’ve driven 30 km to buy a shirt at a discount
depot. You reckon that the cost of driving was $15. But depot. You reckon that the cost of driving was $15. But
you find that price at the discount depot is only $10 lower you find that price at the discount depot is only $10 lower
than elsewhere. What should you do?than elsewhere. What should you do?
ECF1100ECF1100 Lecture 1 Lecture 1
101101Lecture 1
Average vs. marginal costs
If the benefit from launch is constant at $6 billion per launch,
what is the number of launches that maximizes total benefits – total
costs?
# of
launches
Total cost
($billion)
Average cost
(total cost per launch)
Marginal
cost
0 0
1 3 3 3
2 7 4
3 12 4 5
4 18 6
5 30 6 12
2022/3/252022/3/25 102102
2、注意：
隐形成本与显性成本一样重要，但由于
隐形成本不明显，往往被忽略。
2022/3/252022/3/25 103103
例子：
老太太租房的例子：
隐形成本的其余例子：
2022/3/252022/3/25 104104
3、结论：
在决策时，显性成本和隐形成本一样重
要，都必须考虑。
内涵成本与外显成本一样重要，但由于
内涵成本不明显，往往被忽略，在决策
时，都必须考虑。
2022/3/252022/3/25 105105
四、企业利润
作用
1.对企业家投入资源并承担风险的激
励；
2.对管理才能和技术创新的回报；
3.刺激企业提高资源配置和使用的效
率。
1、会计利润
对应会计成本
会计利润是指企业所有者在支付除资本
以外的所有要素报酬之后剩下的利润。
是根据会计准则计算的结果
2022/3/252022/3/25 106106
2022/3/252022/3/25 107107
2、正常利润（正常回报）
指企业主如果把这笔投资投于其他相同风
险的事业可能得到的收入，即是为吸引
企业主在本企业投资，必须给他的最低
限度的报酬。
定义：为防止资源向其他企业或行业转
移所必需的最低支付。
2022/3/252022/3/25 108108
3、经济利润（超额利润）
经济学家的经济利润也是收入减去成本
后的差额，但是经济学家对利润有严格
的定义。
对会计师而言：利润=总收入-总成本，
然而对经济学家而言，这一结果高估了
利润。
正常回报以机会成本 扣减。
意识形成：经济利润才是正真的利润。
2022/3/252022/3/25 109109
例子：选用正确的成本（利润）
概念决策
一位 家庭主妇，几年前以每码5元的价格买
了一块布料。
现在由于涨价，把该布料卖给缝纫店的价格
为每码15 元。
如果将该布料做成衣服后卖出，估计价格为
90 元。
每件衣服需用4码布料和4个工时。
如果为别人做蛋糕，每小时可获得10 元的
工时费。
2022/3/252022/3/25 110110
用会计成本：
收入减成本等于利润 。
收入 90
减：材料费 4*5=20
利润 70
结论：每套衣服有70元的利润。
2022/3/252022/3/25 111111
用机会成本：
收入 90
减： 材料费 15*4=60
工时费 10*4=40
2022/3/252022/3/25 112112
结论：做衣服无利可图！
决策：布料 -----出售
15*4=60
利润 -10
自己 -----自己做面包挣工时费
10*4 =40
共有现金100
2022/3/252022/3/25 113113
总结：
意识形成：
以市场价格进行决策的相关计算。
例子：U盘转让
2022/3/252022/3/25 114114
课内作业：
书：33页5、7
7题：删去“如果他选择开办超市---
其他运营开支”
不用书面，不交。
2022/3/252022/3/25 115115
关于铁路定价听政会
专家认为，票价调整的问题，涉及到我国铁
路改革的重大问题，当前铁路的政企分开
还没有完全到位。
例如铁路管理局的管理体制并没有完全使铁
路成为企业，铁路正由计划经济时期的公
益性机构转变为市场经济的市场主体，同
时，它仍然带有自然垄断性，它的定价并
没有完全适应市场经济中的各种因素。长
期以来僵化的定价制度还没有完全打破。
2022/3/252022/3/25 116116
调价可以带来经济效益的提高，但
经济效益的提高绝不仅仅体现为调
价，
实现铁路管理的政企分开，加强企
业的内部管理，采取多元化的投资
营运形式，进一步精减富余人员，
实行更加灵活的定价机制，提高服
务质量，借鉴国外铁路的先进经验，
必将会极大地提高全路的经济效益，
实现铁路的可持续发展。
2022/3/252022/3/25 117117
周天勇教授认为，铁路不应该通过涨价来实
现扭亏赢利，而是要合理计算成本，用改革
降低成本，改变铁路低效益情况。
有消费者代表认为，铁路部门要争取效益
不能仅靠提高票价，更应从狠抓管理、压缩
成本入手。全国人大代表于祖尧认为，春运
不能算小账，春节期间提价缓解不了铁路运
输的供求矛盾。有人认为，这几年我们国家
经济已经进入到过剩经济，这种提法是言过
其实，至少在运输部门，特别是铁路行业仍
然是一个紧缺经济，供不应求的。客运能力
和客运需求量不成比例。解决这个问题不是
靠短期提价就能够奏效的，需要国家从投资
体制上、产业结构上来寻求出路。
2022/3/252022/3/25 118118
经营者代表上海铁路局副局长俞光耀坦言，今天
这次听证会不仅仅是价格体制改革的一个单纯的
经济行为，更是一种对管理思想的挑战。
有专家说，没有四通八达的美国铁路的发展，就
没有今天美国的现代化。美国铁路对铁路票价管
理有三个阶段，一是自主定价时期，那段时间，
国家铁路发展非常快。第二个阶段是相对集中管
制时期，第三个阶段又对国家铁路的运价开始放
开，在有限的范围内让铁路公司有一个自主定价
权，由此铁路又迈上了一个新的发展轨道。从这
个简单的历史过程，我们也许可以看到，对今天
的听证会是有所启发的。本人的观点就是呼吁国
家主管部门，结合我国经济发展，尽快建立起市
场发展的铁路客运运价调节机制。
2022/3/252022/3/25 119119
北京工商大学教授、梁小民：我原则同意政府指导价的
方案。我讲三点：
第一点，铁路部门实行政府指导价是我国市场经济改革
中的一大进步。在市场经济里面，企业要有自己的定价
权，对竞争性的企业，价格是放开的；但是对于垄断性
企业要在政府指导之下进行定价。铁路虽然没有政企分
开，但铁路现在已经是企业化运行了，不是一个行政单
位，是自负盈亏。
另外，我们铁路改革，正在深化。铁路要完全作为一个
独立自主的企业，在市场上进行运行。就企业作为垄断
企业来说，我认为实行政府指导的定价政策是合适的。
这样才能使铁路走上良性运行的道路。
2022/3/252022/3/25 120120
第二点，我主张涨价，也主张春节期间涨价。铁路
基本价格应该在适当时间调整。理由有两个，一个
行业、一个产品价格的决定，不仅有成本决定，而
且要参照一般价格水平和与他有竞争关系的行业的
价格水平。应该说，我们改革这些年来，人们的生
活水平在提高，物价水平也在提高。但铁路部门物
价上涨的幅度，远远低于收入的增长幅度。另外，
铁路和公路的价格相比，二者有一定的竞争性，尤
其在中、短途的运行上。但是公路的价格要比铁路
价格高，这时就对铁路带来很大的压力，所以铁路
的价格也应参照公路价格进行调整。
2022/3/252022/3/25 121121
另外我认为，春节期间，应该适当的上调价格。理由
有二：一是春节期间上调价格能够起到引导需求，在
一定程度上减少需求的作用。比如在春节期间，一部
分有旅游计划的人就把计划推迟了；二是在春运期间，
由于铁路运输非常繁忙，所以折旧不是正常折旧，而
是加速折旧，这种加速折旧也应该得到补偿。根据这
两个理由，我同意春节期间价格上调。
2022/3/252022/3/25 122122
第三点，是如何做好这项工作。这一点是我讲的重点。
首先，我认为作为消费者也好，作为群众也好，我们在思
想观念上要有一个改变，长期以来计划经济下基本上是由
铁路部门低价格提供服务的，它有政府的补贴可以运行下
去。但在市场经济里面，铁路的服务，已经不是一种公共
福利，是一种商品。是商品，就应该出价购买。而且价格
要根据市场的供求关系，要根据生产成本，同时要接受政
府的指导。所以铁路部门的铁路运输服务，不应该看成是
一种福利，而应看成是一种产品。比如自来水，也是由政
府提供的，是人们生活所必须的东西，现在也提出了自来
水价格上调的问题。因为自来水的供求趋于紧张。所以有
时候对涨价难以接受的一个原因是习惯了铁路的低价格，
涨价就不对，实际上在市场经济里面，铁路是一种商品，
是一种服务，也应该受市场的支配。
在一个从长期来看，铁路部门调整价格，有利于消费者的
利益，也有利于我国市场经济的发展。
2022/3/252022/3/25 123123
第三个在调价时要考虑低收入群体的利益，我有几
个想法，第一不同的列车，调节的幅度不一样。比
如低收入者主要作的硬座，调价应该低一点；卧铺
或者空调列车，调价幅度可以高一点；对于旅游团
体，可以不涨价；再一个暑假和旅游期间的调节可
以高一点，但在春节期间不要调价。
最后我认为铁路部门不能指望通过涨价来实现良性
运营。最根本的办法，要加强内部改革，不能通过
涨价来弥补它的亏损。
随着我国市场经济的转变，集体经济正在向市场经
济转变，作为社会公益性的铁路运输调价也是必然
的。
2022/3/252022/3/25 124124
课后作业：
看书，重点掌握企业的目标，成本、利
润概念
