(Economic ) International Economics अन्तर्राष्ट्रीय अर्थशास्त्र ( Paper-3) U.P B.A 5th Semester

Syllabus

Subject: Economics (International Economics)

 Third Paper Code: A080503T

Unit-I: Need, Significance and Scope of International Economics. Early Trade Theory-Mercantilism; The Classical Theories of Trade- Adam Smith, David Ricardo; Opportunity Cost Approach; Terms of Trade-Meaning and Concepts, Factors affecting Terms of Trade; Mill’s Reciprocal Demand Analysis.

Unit-II: Free Trade and Protection: Meaning of Free Trade, Arguments For and Against Free Trade, Meaning of Protection, Arguments for Protection Economic and Non-Economic Arguments; Protection and Less Developed Countries

Unit-III: Theories and Forms of Economics Integration: Meaning and Benefits; Forms of Economic Integration- Custom Union: Production and Consumption Effects of Customs Union; Problems Involved in the Formation of Customs Union; Political Economy of Protection; SAFTA, BRICS, IBSA

Unit-IV: Balance of Payments: Concepts; Adjustment Mechanisms of Balance of Payments- Adjustment Through Variations in Exchange Rates, Devaluation and Balance of Payments Adjustment, The Elasticity Approach, Marshall Lerner Condition

Unit-V: Heckscher-Ohlin Theorem, The Leontief Paradox, Post-Heckscher-Ohlin Theories of Trade- Technological Gap Model; The Krugman Model, Effects of Growth on International Trade- Production & Consumption Effects, Export Pessimism, Immiserising Growth; Gains from Trade Meaning and Types, Factors Determining Gains from Trade

Unit-VI: International Financial Institutions: IMF, WORLD BANK, ADB; GATT, WTO- TRIPS & TRIMS, WTO and India; UNCTAD, North-South Trade Dialogue, South-South Cooperation; Globalization; FDI

Unit-VII: Quantitative Restrictions: Quota-Meaning, objectives, Types and Effects of Import Quotas; Tariffs-Meaning Types and Effects of Tariffs; Non-Tariff Barriers-Meaning, Classification and Types

Unit-VIII: Foreign Exchange: Meaning and Instruments, Exchange Rate Determination, Mint Par Parity theory, Purchasing Power Parity Theory, Hedging, Foreign Exchange Rate Policy- Fixed, Flexible and Multiple Exchange Rate System; Convertibility of Rupee in Current Account and Capital Account, Move Towards Capital Account Convertibility; Global Financial Crisis

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