Syllabus
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Course Code: MC 413 Course Name: Optional Group II (Marketing) - International Economics |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | International Trade: National specialization, growing intra-regional trade, production sharing, transnational integration, international inequality, domestic politics and international trade. The Pure Theory of International Trade:Theories of absolute advantage, comparative advantage and opportunity costs, modern theory of international trade - Theorem of factor price equalization - Empirical testing of theory of absolute cost and comparative cost - Heckscher - Ohlin theory of trade. Gains from Trade & their Distribution: Special gains to small countries - Terms of trade, their uses and limitations, concepts, measurement, Mill’s doctrine - Trade and development - Trade as an engine of Economic growth, Trade barriers, tariff barriers, classification of tariffs, impact of tariff - Non-tariff barriers and their implications. World’s Trade & Development Organisations: GATT, WTO (TRIPS, TRIMS), UNCTAD, IMF, World Bank and Asian Development Bank-Their achievements and failures; WTO and World Bank from the point of view of India. Foreign Exchange: Foreign exchange market- functions, international payment, transactions in the foreign exchange market, Determination of exchange rates, exchange control-objectives, methods; Exchange rate systems; Relative merits and demerits of fixed and flexible exchange rates in the context of growth and development in developing countries; Convertibility of rupee; Devaluation: approaches, devaluation of Indian rupee. |
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