International Economics
Author(s): Dr. T. Aryamala
Subject(s): Commerce
ISBN 9789393665423
 Published Date
  Pages 408

PAPERBACK

EBOOK (EPUB)

EBOOK (PDF)

Description

This textbook on International Economics is designed to address the syllabi requirements of all major universities. The text combines clarity with ease of understanding and present the concepts in a simplified fashion.

Cover
Title Page
Copyright Page
Dedication
Contents
Preface
Abbreviations
Chapter 1 Introduction to Foreign Trade
1.1 Introduction
1.2 Features of International Trade
1.3 Advantages of International Trade
1.4 Disadvantages of International Trade
1.5 Inter-Regional Trade and International Trade
1.5.1 Similarities
1.5.2 Differences
1.5.3 Interdependence of International and Internal Trade
1.6 Theories of International Trade
1.6.1 Absolute Cost Advantage Theory of Adam Smith
1.6.2 Comparative Cost Theory of Ricardo
1.6.3 Opportunity Cost or Neo Classical Theory of Haberler
1.6.4 Factor Endowments or Modern Theory of Heckscher - Ohlin
1.7 Components of Foreign Trade
1.8 Composition of Foreign Trade
1.8.1 Pattern of Imports
1.8.2 Imports of Capital Goods
1.8.3 Imports of Consumer Goods
1.8.4 Pattern of Exports
1.9 Direction of Trade
1.9.1 Direction of Imports
1.9.2 Direction of Exports
Review Questions
Chapter 2 International Trade – An Evaluation
2.1 Introduction
2.2 History/ Evolution of India’s Foreign Trade
2.2.1 India’s Foreign Trade during Pre and Post-Independence Period
2.3 Foreign Trade during the Plan Period
2.3.1 On the Eve of Planning – [1948-49 to 1950-51]
2.3.2 The First Plan – [1951-52 to 1955-56]
2.3.3 The Second Plan – [1956-57 to 1960-61]
2.3.4 The Third Plan [1961-62 to 1965-66]
2.3.5 Annual Plans [1966-67 to 1968-69]
2.3.6 The Fourth Plan – [1969-70 to 1973-74]
2.3.7 The Fifth Plan – [1974-75 to 1978-79]
2.3.8 The Sixth Plan [1980-81 to 1984-85]
2.3.9 The Seventh Plan [1985-86 to 1989-90]
2.3.10 Annual Plan [1990-91 to 1991-92]
2.3.11 The Eighth Plan [1992-93 to 1996-97]
2.3.12 The Ninth Plan [1997-98 to 2001-2002]
2.3.13 The Tenth Plan [2002-2003 to 2006-2007]
2.3.14 The Eleventh Plan [2007-2008 to 2011-2012]
2.4 Role of Foreign Trade in Economic Development
2.5 Trends in India’s Foreign Trade
Review Questions
Chapter 3 Foreign Capital, Foreign Aid and Economic Development
3.1 Introduction
3.2 Foreign Capital
3.2.1 Need for Foreign Capital
3.2.2 Forms of Foreign Capital
3.2.3 Government Policy towards Foreign Capital
3.3 Foreign Aid
3.3.1 Impact of Foreign Aid on India’s Economic Development
3.3.2 Suggestions for the Use of Foreign Aid
3.4 Multinational Corporations [MNC]
3.4.1 Features/ Characteristics of MNCs
3.4.2 Challenges Faced by MNCs
3.4.3 Advantages of MNCs
3.4.4 Criticisms Against MNCs
3.5 Recent Trends in Foreign Trade
Review Questions
Chapter 4 Balance of Trade and Balance of Payments
4.1 Introduction
4.2 Definitions
4.3 Meaning
4.3.1 Balance of Trade
4.3.2 Balance of Payment
4.3.3 Difference between Balance of Trade & Balance of Payments
4.3.4 Importance of Balance of Payments
4.3.5 Limitations of Balance of Payments
4.4 Components of Balance of Payments
4.4.1 The Current Account
4.4.2 The Capital Account
4.4.3 Unilateral Transfer Account
4.4.4 Officials Adjustment Account
4.5 Structure of Balance of Payment
4.5.1 The Structure of Balance of Payments Accounts in India
4.6 BOP - Disequilibrium
4.6.1 Types of Disequilibrium
4.6.2 Methods of Correcting an Unfavourable Balance of Payment
4.7 EXIM – Bank
4.8 EXIM Policy
4.8.1 India’s Trade Policy
4.8.2 Export – Import Policy [EXIM]
4.8.3 EXIM Policy 1992 – 97
4.8.4 EXIM Policy 1997–2002 - A Modified Version
4.8.5 The New EXIM Policy (2002-07)
4.8.6 Mini EXIM Policy (2004–05)
4.9 Devaluation
4.10 Foreign Direct Investment
4.10.1 Forms of Foreign Capital
4.10.2 Categories of FDI
4.10.3 Types of FDI
4.10.4 Merits of FDI
4.10.5 Shortcomings of FDI
Review Questions
Chapter 5 Foreign Exchange and Exchange Rate
5.1 Introduction
5.2 Foreign Exchange
5.2.1 Meaning and Definition of Foreign Exchange
5.2.2 Scope of Foreign Exchange
5.2.3 Foreign Exchange – Problems, Sources of Demand and Supply
5.2.4 Major Foreign Exchange Investments
5.2.5 Transactions of Foreign Exchange
5.2.6 Methods of Foreign Payments
5.3 Foreign Exchange Market
5.3.1 Features of Foreign Exchange Market
5.3.2 Functions of Foreign Exchange Market
5.3.3 Transactions in the Foreign Exchange Market
5.4 Exchange Rate
5.4.1 Different Concepts of Foreign Exchange Rate
5.4.2 Determination of Exchange Rate
5.4.3 Terms related to the Foreign Exchange Rate
5.4.4 Factors Influencing Exchange Rate
5.4.5 Types of Exchange Rates
5.4.6 Fixed Exchange Rate: In Detail
5.4.7 Flexible or Floating Exchange Rate: In Detail
5.4.8 Fixed Rate vs Flexible Exchange Rate
Review Questions
Chapter 6 Exchange Control
6.1 Introduction
6.2 Definitions
6.3 Evolution of Exchange Control in India
6.4 Features/ Characteristics of Exchange Control
6.5 Objectives of Exchange Control
6.6 Merits of Exchange Control
6.7 Demerits of Exchange Control
6.8 Methods of Exchange Control
6.9 Theories of Exchange Rates
6.9.1 Mint Parity Theory
6.9.2 Purchasing Power Parity Theory [PPPT]
6.9.3 Modern Theory / BOP Theory
Review Questions
Chapter 7 Trade Policy
7.1 Introduction
7.2 Terms of Trade
7.2.1 Meaning & Definition
7.2.2 Concepts / Types of Terms of Trade
7.2.3 Factors Affecting Terms of Trade
7.3 Free Trade
7.3.1 Advantages of / Arguments in Favour of Free Trade
7.3.2 Disadvantages of / Arguments Against Free Trade
7.4 Free Trade vs Protection Trade
7.4.1 Argument for Protection Trade
7.4.2 Arguments Against Protection Trade
Review Questions
Chapter 8 International / Regional Economic Integration
8.1 Introduction
8.2 Levels of Economic Integration
8.3 European Union / European Economic Community [EEC]
8.4 Launching of Euro
8.5 EEC — Organisational Structure
Review Questions
Chapter 9 Tariffs
9.1 Introduction
9.2 Tariff – Meaning
9.3 Tariff – Barriers
9.4 Classification / Types of Tariffs
9.4.1 Based on Purpose
9.4.2 Based on Origin & Destination
9.4.3 Based on Discrimination [Country-wise]
9.4.4 Based on Retaliation
9.5 Effects of Tariffs
9.5.1 Partial Equilibrium Approach
9.5.2 General Equilibrium Approach
Review Questions
Chapter 10 Quota
10.1 Introduction
10.2 Meaning
10.3 Objectives / Purposes of Quota
10.4 Types of Quota
10.5 Reasons for Imposing Import Quota
10.6 Similarities between Quotas & Duties
10.7 Differences between Quotas and Tariffs
Review Questions
Chapter 11 Dumping, Anti-Dumping and Cartels
11.1 Introduction
11.2 Dumping - Meaning & Definition
11.2.1 Kinds of Dumping
11.2.2 Essential Conditions for Dumping
11.3 Anti-Dumping – Meaning
11.3.1 Anti-Dumping Measures
11.4 Cartels – Meaning & Definition
11.4.1 Advantages & Disadvantages of Cartels
Review Questions
Chapter 12 Export Management
12.1 Introduction
12.2 Export Management and Export Marketing
12.3 Meaning & Definition of Export Management
12.4 Features of Export Management
12.5 Scope of Export management
12.6 Need for Exports
12.7 Functions / Process of Export Management
12.7.1 Planning
12.7.2 Organizing
12.7.3 Staffing
12.7.4 Directing
12.7.5 Controlling
Review Questions
Chapter 13 Export Procedures and Documents
13.1 Introduction
13.2 Incoterms (International Commercial Terms) / Contract Terms
13.3 Export Procedures and Documents – An Overview
13.4 Export Procedures – In Detail
13.5 Export Documents – In Detail
13.6 Types of Bill of Lading
Review Questions
Chapter 14 Export Promotion
14.1 Introduction
14.2 Need for Export Promotion
14.3 Hindrances Faced in Exports
14.4 Export Promotion Measures
14.5 Incentives and Facilities to Exporters
14.6 Institution for Export Promotion
Review Questions
Chapter 15 Export Pricing
15.1 Introduction
15.2 Objectives of Export Pricing
15.3 Factors Influencing / Determining Export Price
15.4 Process of Export Pricing
15.5 Techniques of Export Pricing [Methods/Principles/Strategies/Approaches/ Policies]
Review Questions
Chapter 16 Export Finance
16.1 Introduction
16.2 Importance of Export Finance
16.3 Methods / Sources / Types of Export Finance
16.4 Institutional Support for Export Finance
Review Questions
Chapter 17 Letter of Credit
17.1 Introduction
17.2 Meaning
17.3 Definition
17.4 Mechanism of Letter of Credit
17.5 Parties to Letter of Credit
17.6 Advantages of Letter of Credit
17.6.1 To the Exporter
17.6.2 To the Importer
17.7 Disadvantages of Letter of Credit
17.7.1 To the Exporter
17.7.2 To the Importer
17.8 Types of Letter of Credit
Review Questions
Chapter 18 Euro-Dollar Market
18.1 Introduction
18.2 Meaning
18.2.1 Euro-Dollar
18.2.2 Euro-Dollar Market
18.3 Origin of Euro-Dollar Market
18.4 Growth of Euro-Dollar Market
18.5 Features / Characteristics of Euro-Dollar Market
18.6 Functions of Euro-Dollar Market
18.7 Benefits & Shortcomings of the Euro-Dollar Market
18.8 Role of Euro-Dollar Market in International Financial System
Review Questions
Chapter 19 International Trade and Financial Institution
19.1 Introduction
19.2 International Monetary Fund [IMF]
19.2.1 Objectives
19.2.2 Functions
19.2.3 Organisation and Structure
19.2.4 Quotas and Fixation
19.2.5 Lending Operations of the Fund
19.2.6 IMF and Gold
19.2.7 Criticism of IMF
19.3 International Liquidity
19.3.1 Definition
19.3.2 Components of International Liquidity
19.3.3 Sources of Liquidity
19.3.4 Problems of International Liquidity
19.3.5 Measures to Solve the Problem of International Liquidity
19.3.6 Role of IMF in International Liquidity
19.4 Special Drawing Rights [SDR]
19.4.1 Meaning of SDR
19.4.2 Origin of SDR
19.4.3 Features of SDR
19.4.4 Allocation of SDR
19.4.5 Value of the SDR
19.4.6 Interest Rate of SDR
19.4.7 Uses of SDR
19.4.8 Merits / Advantages / Benefits of SDR
19.4.9 Demerits / Disadvantages / Criticisms of SDR
19.5 International Bank For Reconstruction and Development [IBRD/World Bank]
19.5.1 Objectives and Functions
19.5.2 Organisation and Membership
19.5.3 Capital Resources
19.5.4 Lending Operations
19.5.5 Criticisms
19.6 Industrial Development Association [IDA]
19.6.1 Objectives of IDA
19.6.2 Organisation and Membership of IDA
19.6.3 Capital Structure
19.6.4 Functions of IDA
19.6.5 Features of IDA Loans
19.7 Multilateral Investment Guarantee Agency [MIGA]
19.8 Asian Development Bank (ADB)
19.8.1 Membership
19.8.2 Objectives
19.8.3 Organisation
19.8.4 Capital Resources
19.8.5 Functions
19.8.6 Principles in Lending
19.8.7 Criticism
19.9 United nations industrial development organisation [UNIDO]
19.9.1 Functions of UNIDO
19.9.2 Services/Activities of UNIDO
19.10 International Finance Corporation [IFC]
19.10.1 Objectives
19.10.2 Functions
19.10.3 Capital and Membership
19.10.4 Investment Policy of the IFC
19.10.5 Criticisms
19.11 United Nations Conference on Trade and Development [UNCTAD]
19.11.1 Organisation of UNCTAD
19.11.2 Functions of UNCTAD
19.11.3 UNCTAD – I
19.11.4 UNCTAD – II
19.11.5 UNCTAD – III
19.11.6 UNCTAD – IV
19.11.7 UNCTAD – V
19.11.8 UNCTAD – VI
19.11.9 UNCTAD – VII
19.11.10 UNCTAD–VIII
19.11.11 UNCTAD – IX
19.11.12 UNCTAD – X
Review Questions
Chapter 20 WTO and Trade Liberalisation
20.1 Introduction
20.2 General Agreement on Trade and Tariffs [GATT]
20.2.1 Objectives
20.2.2 Provisions of GATT
20.2.3 GATT Conferences – Uruguay Rounds
20.2.4 Dunkel Draft
20.2.5 Defects of GATT
20.3 World Trade Organisation [WTO]
20.3.1 Features of the WTO
20.3.2 Objectives of WTO
20.3.3 Functions of WTO
20.4 TRIPs - Trade Related Intellectual Property Rights
20.5 TRIMs - Trade Related Investment Measures
20.6 Patent
20.7 Copyrights, Designs and Trademark
20.7.1 Copyrights
20.7.2 Designs
20.7.3 Trademark
20.8 Liberalisation of Trade in Manufacturing and in Agricultural Trade
20.9 State Trading
20.9.1 Introduction
20.9.2 Purposes of State Trading
20.9.3 Advantages of State Trading
20.9.4 Disadvantages of State Trading
Review Questions
Chapter 21 New Economic Reforms
21.1 Introduction
21.2 Economic Reforms in India
21.3 Liberalization
21.4 Privatization
21.4.1 Arguments in Favour of Privatization
21.4.2 Arguments Against Privatization
21.4.3 Methods of Privatization
21.5 Disinvestment
21.5.1 Objectives of Disinvestment
21.5.2 Methods of Disinvestment
21.6 Globalization
21.6.1 Globalization is Identified with External Sector Liberalization
21.6.2 Views in Favour of Globalization
21.6.3 Views Against the Globalization
21.6.4 Measures towards Globalization
21.7 New Economic Policy/ Reforms
21.7.1 New Industrial Policy – 1991(NIP)
21.7.2 Arguments in Favour of New Economic Reforms
21.7.3 Arguments Against New Economic Reforms
Review Questions
Index

T. Arya Mala is Asst. Prof, Department of Commerce, Asan Memorial College of Arts and Science, Chennai. She has over 15 years of teaching experience and is currently pursuing her Ph.D. in Gender Budgeting. Her areas of specialization are Business Economics, Managerial Economics and Indian Economy.

Comments should not be blank
Rating

Highlights Notes

  • You don’t have any highlights!!

  • You don’t have any Notes!!