International Economics TYBA Semester VI Manan Prakashan

Content:

Module – 1 : Introduction
Importance of the study of International Economics – An overview of world trade – Distinction between Domestic & International Trade -Concepts of Cost Difference , Adam Smith’s Theory of International Trade, The Ricardian Theory.

Module – 2 : Modern Theories of International Trade
Heckshcher-Ohlin Theory of International Trade, Factor Abundance: Two Criteria, Leontief Paradox, Haberler’s theory of Opportunity Cost, Law of reciprocal demand and offer curves, Role of Factor Accumulation, Stolper-Samuelson theorem.

Module – 3 : Importance of Trade and Recent Trends
Monopolistic Competition and Trade – firm heterogeneity, FDI: The concept and role, FDI Inflows- FDI Outflows, and the global supply chain, Business Process Outsourcing.

Module – 4 : Trade Policy and Regionalism
Instruments of Trade Policy; Why countries Cooperate? – GATT, GATS, Regional Trade Agreements – Controversies in Trade Policy (Labour Standards, IPR and environment) – ASEAN, SAARC, SAFTA, Protectionism.