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International Trade and Economics

International Trade and Economics

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Published by: D Attitude Kid on Jun 13, 2010
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Punjab College of Technical EducationCourse ModuleMBA IB (3
Semester)Subject: International Trade and EconomicsCode: MBAIB 301Tests: 04Case Study: 03Assignment: 02Total lectures: 38Weightage of Internal Assessment
:MSE – 15 Marks Tests – 5 MarksPresentation – 10 MarksCase study – 5 MarksAssignment- 5 Marks
Course Instructor – Deepa KapoorCourse Objectives:
 The objectives of this course are to help you gain toolsthat will enable you to systematically think about issues in internationaleconomics. The course will cover two main areas in international economics:international trade and international development.
International trade
will cover: development of trade among nations;theories of trade; policies, factor endowments, trends, and barriers totrade.
International Development 
will cover basic development topicssuch as: the role of free trade, foreign aid, and institutions foreconomic growth and development.
S.No.Topics To Be CoveredAssignmentTestCaseStudy1
Introduction to class about the subject-Relevance, Topics to be covered, Requirementsof the course.2
Theories of Trade
-Adam Smith’s The Law of Absolute CostAdvantage
Trade occurs between two countries if one of them has an absolute advantage
in producing one commodity & the other country having absolute advantage in producing some other commodity.
Ricardo’s Comparative Cost Advantage Theory-
Trade takes place because differencountries have different advantages(efficiency) in the production of different specialization.
Opportunity - Cost Version of ComparativeAdvantage Theory
Assignment 14
Hecksher-Ohlin Theorem (Theory and GraphicalRepresentation)
Countries will export those goods that make intensive use of those factors tat are locally abundant, while importinggoods that make intensive use of factorsthat are locally scarce.
Factor- Price Equalization Theorem (GraphicalModel)-In terms of Physical Criterion
Factor- Price Equalization Theorem (GraphicalModel)-In terms of Price CriterionLeontief Paradox
National Competitive Advantage: Porter’sDiamond Model for Trade
Four attributes of a nation shape theenvironment in which local firms compete, &these attributes promote or impede thecreation of competitive advantage
Factor Endowment-Demand Conditions-Related and Supporting Industries-Firm strategy, Structure and Rivalry
9Case Study- Rise of Indian SoftwareIndustry110Test1
Terms of Trade
the rate at which onecountry’s goods exchange against those of 
.-Gross Barter Terms of Trade-Net Barter Terms of Trade-Income Terms of Trade-12-Single factoral Terms of Trade-Double Factoral Terms of Trade-Real Cost Terms of Trade-Utility Terms of Trade13Mill’s Doctrine of Reciprocal DemandMarshall- Edgeworth Offer Curves14Factors Affecting terms of trade
Shifts in the Demand for country’sexports/ imports-Economic growth and Terms of trade15Factors Affecting terms of trade-Effect of Tariffs-Effect of Devaluation16Factors Affecting terms of trade-Change in supply on TOT-Change in tastes of people17Tariff Barriers 
Effect of Tariffs
-Price Effect-The Protective Effect-Revenue Effect-Consumption effect18Effect of Tariffs-Terms of Trade Effect-Balance of Payment Effect19Effect of Tariffs-Income EffectRetaliation20Non-Tariff Barriers
Assignment 2
21,22WTO-Role of WTO-Uruguay Round and the WTO-Doha Round and the WTO-India and WTO23

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