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1、Chapter 6,Modern Trade Theories (2) 现代贸易理论（二）,Warm-up Questions,What do you know about the Heckscher-Ohlin Theory ?,Have you heard of the Leontief Paradox ?,What is the Product Life Cycle Theory?,New words,1. relative a. 相对的 2. to constitute vt. 构成 3. abundant a. 丰富的，充裕的(名为abundance) 4. resources n.
2、资源(such as land, labor, capital, etc.) 5. conversely adv. 反之，相反 6. scarce a. 不足的，稀少的 7. to equalize vt. 使均等，均等化 8. interplay n. 相互影响，相互作用 9. arable a. 适于耕作的，可耕的(suitable for plowing and hence for producing crops) 10. labor-intensive a. 劳动密集型的 11. contradictory a. 矛盾的,New words,12. absurd a. 荒谬的 13.
3、determinant n. 决定因素 14. initially adv. 开始，最初 15. vis-a-vis 与相比 16. innovative a. 创新的 17. common-place a. 平凡的，平常的 18. to imitate vt. 模仿 19. graphically adv. 用图表示，图示地 20. to predominate vi. 居统治地位 21. entrant n. 进入者 22. theorist n. 理论家,Economic Terms,1. the Heckscher-Ohlin theory of factor endowment赫-俄
4、要素禀赋说，简称H-O theory“赫-俄原理”或“赫-俄论” 2. competitive advantage竞争优势(与competitive edge 意同) 3. home market国内市场,Economic Terms,4. production process生产工序 5. first-mover advantage 先人一步的优势；为人先的优势 6. economies of scale 规模经济(the result of production functions showing on equal percentage increase in all inputs lea
5、ds output to increase by a larger percentage).,Useful Phrases and Idiomatic Expressions,1. more often than not多半地，往往 2. to receive (win) a prize in获得方面的奖，得奖 3. to tend to be eliminated有被消灭的趋势 4. to place reliance on sth.依赖某物 5. to shed more light on sth.将更多目光投注于，使更加显示出来,6. to delegate primary import
6、ance (to sth.)强调(某事的)第一重要性 7. in part部分地(等于partly或partially) 8. to be well matched很相配 9. to be endowed with被赋于，使具有 10. by analogy with用与之相比较,Useful Phrases and Idiomatic Expressions,Notes,1. Nobel prize诺贝尔奖 2. the distribution of income收入的分配 3. Raymond Vernor(美)经济学家雷蒙弗农 4. L.T. Wells威尔士 5. introduct
7、ion stage引进阶段 6. technological break-through技术上的突破 7. growth stage增长阶段 8. maturity stage成熟阶段 9. decline stage衰退阶段,10. Xerox (美)施乐公司(生产复印机，正因如此美国人将xerox当动词用表示复印copy),Notes,11. Boeing 波音公司(美国有名飞机制造商之一),Notes,Notes,12. McDonnel Douglas 麦克唐纳诺-道格拉斯（美国另一家飞机制造厂商）,Notes,13. Newton n.牛顿 (1642-1723) 英国物理学家、数学
8、家和天文学家，提出万有引力定律，力学等有名定律。,14. the theory of gravitational pull of planets 万有引力理论 15. currency union (欧盟的)货币联盟,The Heckscher-Ohlin Theory (of Factor Endoument),The meaning of the Heckscher-Ohlin theory Major points of view in the H-O theory Comparison between the H-O theory and Ricardos theory of comp
9、arative advantage Illustrations Comment on the H-O theory,The Leontief Paradox,Wassily Leontief is an economist who won the Nobel prize in international economics in 1973. His famous work on economics includes Domestic Production and Foreign Trade and The American Capital Position Reexamined.,Raymon
10、d Vernor,The Product Life-cycle Theory,L.T. Wells,Introduction stage Growth stage Maturity stage Decline stage Losing to foreign competitors,The stages that many manufactured goods go through include the following 5 phases:,Other New Trade Theories,First-mover advantage The Gravity model of trade,Th
11、ink and Practice,1. What is the H-O theory? What are its main arguments? 2. What are the similarity and dissimilarity between the H-O theory of factor endowment and Ricardos theory of comparative advantage? 3. Give an example of the operation of the H-O theory. 4. What is Leontief paradox? Can you illustrate this theory by an example? 5. What is the product life-cycle theory primarily concerned with? What are the 5 stages many manufactured goods undergo? 6. What is meant by the first-mover advantage? 7. Can you say something about the “Gravity” model of trade?,This is the end of Chapter 6,