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INTERNATIONAL TRADE AND FINANCE
Course Outcomes (COs):
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Learning Outcome (at course level) |
Learning and teaching strategies |
Assessment Strategies |
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On completion of this course, the students will be able to: CO71 Critically evaluate theories of International trade and compare tariff and non-tariff barriers in trade CO72 Appraise the role and function of IMF, World Bank, WTO and various regional economic Corporations. CO73 Evaluate the Exchange rate regime and analyse balance of Payment CO74 Appraise the role of various regulatory framework in facilitating International Trade CO75 Classify the modes of Foreign Investment |
Approach in teaching: Interactive Lectures, Discussion, Tutorials, Practical cases Demonstration, Power point presentation.
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Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects |
Introduction and Theories of International Trade
• Meaning and Role of International Trade
• Classical Theory, Hecksher-Ohlin Theory and New Trade Theory
Commercial Policy Instruments
• Tariff and non-tariff measures -Types.
• Factors contributing to growth in International Finance
International Negotiations
• GATT – An overview, WTO – Objectives, principles, organizational structure and functioning, WTO and India.
Regional Economic Co-operation
• Regional trade blocs, Meaning and relevance, Forms of regional groupings; Integration efforts among countries in Europe, North America and Asia (NAFTA, EU , ASEAN and SAARC) .
International Financial Environment
• International Financial System and Institutions (IMF and World Bank – Objectives and Functions, achievements and relations with India )
Exchange Rate and Its Economic Effects
• Meaning and Concept, Exchange rate regime, Nominal Versus Real Exchange rates. Foreign Exchange Market, Determination of Nominal Exchange rate, changes in exchange rates.
• Theories of Exchange Rate determination- Purchasing Power Parity Theory and Balance of Payment Theory
• Devaluation Vs Depreciation,
• Impact of Exchange rate fluctuations on the Domestic Economy.
Balance of Payment
• Concept, Components, Equilibrium in BOP, Measures to correct disequilibrium.
International Capital Movement
• Types of Foreign Capital, FDI and FPI, Reasons for FDI, Modes of FDI, Benefits of FDI, Potential Problems associated with FDI, FDI inflow and outflow of India
Organisation Structure for International Business Operations
• International business negotiations, Issues in International Business and Modes of International Business
Regulatory Framework
• Current Exim Policy, Guidelines by Directorate General of Foreign Trade (DGFT), Important guidelines of Foreign Exchange Management Act (FEMA)
• Role of International Chamber of Commerce (ICC)
• Summary of Important Guidelines by Foreign Exchange Dealers Association of India (FEDAI)
SUGGESTED TEXT BOOKS:
• Avadhani,V.A,” International Finance, Theory and Practice”, Himalaya Publishing Company, New Delhi.
• International Trade Finance, Indian Institute of Banking and Finance Taxmann Publications, New Delhi
• S.K. Mathur, “ International Trade and Finance”, Shivam Book House, Jaipur.
• Cherunilam Francis “International Economics”, Tata McGraw-Hill Publishing Company Limited, new Delhi
• Cherunilam Francis “International Business”, Tata McGraw-Hill Publishing Company Limited, new Delhi
• Mithani D. M. Introduction to International Economics (Latest)- Himalaya Publishing House, Mumbai
SUGGESTED REFERENCE BOOKS
• Maurice, Levi, “ International Finance”, McGraw Hill, Int. Ed. New York.
• Walter, Ingo: Handbook of International Business, John Wiley and Sons; New York.
• Wood, D. and J Byrne: International Business Finance, Macmillan, New York.
• Sodersten B, “International Economics”, Macmillan, London.
• Dominick, “ International Economics”, Macmillan Publication Company, New York.
E- RESOURCES:
• https://www.indiabudget.gov.in/economicsurvey/ (Economic survey, various issues)
• https://rbi.org.in/Scripts/AnnualPublications.aspx?head=Report%20on%20Cu... (RBI Report on Currency & Finance, various issues)
• Websites: https://www.rbi.org.in/ (RBI), https://www.imf.org/en/Home (IMF), https://www.worldbank.org/en/home (WORLD BANK), https://www.wto.org/ (WTO)
• https://www.wto.org/english/res_e/reser_e/annual_report_e.htm (WTO Annual report, various reports)
REFERENCE JOURNALS:
• International Journal of Financial Management
• Indian Journal of Finance
• Journal of Banking, Information Technology and Management
• World Affairs- The Journal of International Issues
• Foreign Trade Review
