Course Contents
International Trade Theories
• Mercantilist view / absolute advantage theory
• Comparative advantage theory
• Opportunity cost theory (Increasing, decreasing and constant case)
Determination of relative commodity prices
• Partial equilibrium analysis
• General equilibrium analysis
Heckscher – ohlin model
Relaxing Assumption of H.O Model and new Trade Theories
• Demand Reversal
• Factor Intensity reversal
• Specific Factor Model
• Imperfect competition and international Trade
• Technological gap theory / product cycle theory
• Economies of scale and international trade
• Cost of transportation and international trade
International trade & economic growth
Course Synopsis
The objective of this course is to equip students with elementary concept of international trade theories and to provide strong foundation in international economics to deal with changing global scenario.
Course Learning Outcomes
After the completion of this course students will be able to identify, formulate and solve practical economics problems relating to international trade.
The Students will be able to recommend policy option in foreign trade with refers to international scenario.
International Trade Theories: Mercantilism, Mercantilist View
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Absoulte advantage theory and Comparative advantage Theory
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Opportunity cost theory (increasing, decreasing and constant case)
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Determination of relative commodity prices: Partial Equilibrium Analysis
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General Equilibrium Analysis : Offer Curves
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Heckscher-ohlin Model: Assumptions of H.O model
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H.O model
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H.O model
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H.O model and factor price equalisation Theorm
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Factor Intensity Reversal
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Effects of international trade on income, Demand Reversal and Leontief Paradox
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Specific Factor Model
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Imperfect Competition and International Trade
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Technological gap Theory/Product Cycle Theory
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Economies of Scale and International Trade: Intra industry Trade Model
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Intra industry Trade Model (continued)
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Cost of Transportation and International Trade
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International trade and Economic Growth: Rybenzsky Theorem
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International trade and Economic Growth: (Small country case)
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International trade and Economic Growth(the large country case)
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International trade and Economic Growth(Beneficial growth and trade)
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Book Title : International Economics
Author : Dominick Salvatore.
Edition : 11th edition
Publisher : Wiley
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Title : International economics
Type : Reference Book
View International economics