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This volume on International Economics is revised in seeking to explore the economic analysis incisively applied to examine the global economic events and the exciting dynamism of new economic order of the foreign trade and finance in the fast changing world of the 21st Century. In the globalising process of the world economy today, foreign trade and investments are growing faster than the production along with rising capital flows in these days of revolutionary information and communication technology. There is an increasing trend of national economic integration and interdependence, projects and policies tied together in achieving the common goals in the gamut of shifts from competition to contacts and collaboration. In this edition, the book has been thoroughly revised and recast to incorporate a broader range of events and analysis more rigorously in an updated manner to facilitate the reader to have a better comprehension and improved ability to understand the development in the global economic fields. It is more data-oriented and research-based in its synthesisation of ideas and analysis. This edition also incorporates several relevant case studies for the benefits of the reader and purposeful classroom discussions and pragmatic courses at the graduate and undergraduate levels of studies in India and abroad. Contents - 1. Importance of International Economics 2. The Classical Theory of International Trade 3. Generalised Theory of Ricardian Comparative Cost Advantage 4. Opportunity-Cost Version of Comparative Advantage Principle 5. Heckscher-Ohlin Theorem: Modern Theory of International Trade 6. Factor Endowment Theory: Revisited 7. Recent Development in Theories of International Trade: An Overview 8. The Gravity Model 9. Gains from International Trade 10. Terms of Trade 11. Technical Progress and International Trade 12. The Rate of Exchange 13. The Real Exchange Rate 14. The Balance of Payments 15. International Capital Movements 16. Free Trade versus Protection 17. Tariffs 18. Import Quotas 19. Exchange Control 20. Miscellaneous Protection Techniques 21. State Trading 22. International Gold Standard 23. International Monetary Fund 24. International Financial Institutions 25. Major Issues of The International Monetary System: The Problem of International Liquidity 26. The Theory of Customs Union 27. The European Economic Community 28. General Agreement on Tariffs and Trade (GATT) 29. The World Trade Organisation (WTO) 30. United Nations Conference on Trade and Development (UNCTAD) 31. Euro-Dollar Market 32. Regional Economic: Integration among Developing Countries 33. Regionalism versus Multilateralism 34. India’s Foreign Trade 35. India’s Balance of Payments 36. Multinational Corporations 37. Foreign Direct Investment (FDI 38. International Debt and World Bank 39. Globalisation 40. Globalisation of Financial Markets: International Finance Hub 41. Case Study Folio Appendix 1: Additional Matter Appendix 2: Statistical Tables References and Selected Readings
