Syllabus
Course Code: M-ECOC- 011 Course Name: International Trade and Finance-II |
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MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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1 | Foreign Exchange
Market Evolution
of foreign exchange rate determination mechanism, Speculation and arbitrage,
role of expectations, currency swaps, future and options, Asset approach to
exchange rate, Portfolio balance approach, FOREX management strategy,
Management of foreign exchange with special reference to India, Indian Rupee
and its fluctuations in International currency market.
Reading
List ·
Branson,
W.H. (1980). Asset Markets and Relative
Prices in Exchange Rate Determination. International Finance Section,
Department of Economics, Princeton University. ·
Frankel,
J.A. (1993). Monetary & Portfolio
Balance Models of Exchange Rate Determination. MIT Press, Cambridge. ·
Heller,
H.R. (1974). International Monetary
Economics. Prentice- Hall, Englewood Cliffs, N.J.
·
Pilbearn,
Keith (2006). International Finance.
Palgrave Macmillan.
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2 | Balance of Payment Concepts,
structure and disequilibrium in Balance of payments; Monetary model of BOP
under fixed and flexible exchange rates, Devaluation and BOP crisis- Effects of
Devaluation; elasticity and Absorption Approach- Marshall- Lerner Condition,
J-Curve; Foreign trade multiplier; Recent trends in BOP in India.
Reading
List ·
Alexander,
S.S. (1959). Effects of Devaluation on Trade Balance. American Economic Review, 49, 21-42. ·
Kreinin,
M.E. & Officer, L.H. (1981). The Monetary Approach to the Balance of
Payment: A Survey (Princeton Studies in International Finance No. 43).
Princeton University. · McCallum, Bennett T. (1996). International Monetary Economics. Oxford University Press, New York. · Stern, R.M. (2017). The Balance of Payments: Theory and Economic Policy. Routledge.
·
Thirlwal, A.P (1999).
Balance of Payments Theory. Oxford
University Press, New York.
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3 | Open Economy
Adjustment Policies Internal
and external balance; Swan Diagram, Assignment Problem; Expenditure Switching
and changing policies; Mundell-Fleming Model-Combining monetary and fiscal
policies; Implications of Impossible Trinity in the Indian Context.
Reading
List ·
Caves,
R.E. & Johnson, H.G. (Eds.). (1968).Readings
in International Trade. Homewood, Allen & Unwin, London. ·
Rivera-Batiz,
Francisco L. & Rivera-Batiz, Luis A. (1994). International Finance and Open Economy Macroeconomics. Macmillan.
·
Salvatore,
D. (2019). International Economics. John
Wiley and Sons.
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4 | International
Financial Management and Institutions International
Capital Movements: FDI and Portfolio Investment; Euro currency market and
International Bond Market; Funding and Risk Management; Currency Crisis: East
Asian Financial Crisis, Sub-Prime lending Crisis, Greece Crisis, Euro Crisis
and Brexit. Evolutionary and Operational developments in International
Institutions: IMF, IDA, ADB.
Reading
List ·
Kindleberger,
C.P. (1996). A History of Financial
Crisis: Manias, Panics and Crashes. John Wiley and Sons, New York. ·
Salvatore, D.
(2019). International Economics. John
Wiley and Sons, New York.
·
Whalley, John
(1985). Trade Liberalization Among Major
Trading Areas. Cambridge University Press.
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