International Economics

By Dr. Parag Dutta and Dr. Sarmistha Rani Baruah | Krishna Kanta Handiqui State Open University, Guwahati

Learners enrolled: 158

International Economics is that branch of economics in general that deals with the international exchange of goods and services. It is, of course, true that the dominant concern of international economics is the exchange of goods and services among the different countries. But in reality, international economics is concerned with the whole gamut of economic relationships on the international plane. The course deals with certain theoretical as well as policy matters relating to the area of international economics. exploring key concepts, theories, policy interventions, and their impact on economic dynamics.
At its core, international trade involves the exchange of goods and services across borders. Nations engage in trade to access resources, expand markets, and benefit from comparative advantages. This course on international economics defines the meaning of international economics, distinguishes between internal and international trade, and the importance of international trade for economic development. Theories form the backbone of understanding why nations trade and how they benefit from it. The course progresses into exploring classical theories such as absolute advantage, comparative advantage, and opportunity costs. These theories explain how nations specialize in producing goods and services where they have a comparative advantage, leading to mutually beneficial trade relationships.
Building upon classical theories, advanced models like the Heckscher-Ohlin theory, Leontief paradox, and Stolper-Samuelson model provide deeper insights into trade dynamics based on factors like factor abundance, factor intensity, and trade patterns. Intra-industry trade models and technological gap theories further enrich our understanding of trade patterns within industries and technological advancements' role in shaping trade. The course discussesgain from tarde, how growth affects trade, the Prebisch-Singer thesis, and the implications of trade changes on production, consumption, and overall welfare. Non-tariff barriers, export subsidies, and the role of organizations like the WTO in trade regulation are also explored. Moving towards broader economic integration, the course covers customs union theories, trade creation and diversion effects, and case studies like the European Economic Community (EEC) and South Asian Association for Regional Cooperation (SAARC). The concepts foreign trade multiplier and international monetary standard are examined in detail, showcasing how changes in trade can impact national income, investment, and overall economic activity.

Krishna Kanta Handiqui State Open University is well-placed to offer this course on International Trade via the SWAYAM Platform, given the interdisciplinary nature and significance of international economics. This initiative would enable interested students to enhance their competency and understanding in the field of international trade, thus broadening their knowledge base.

Course Credit - 4

Summary

Course Status :	Upcoming
Course Type :	Not Applicable
Language for course content :	English
Duration :	12 weeks
Category :	Economics
Credit Points :	4
Level :	Postgraduate
Start Date :	01 Jan 2025
End Date :
Exam Date :

Page Visits

Course layout

INTERNATIONAL ECONOMICS
Week-1	Module 1: Introduction to International Trade
	Video Lecture : The Basic Concept of International Economics
	Video Lecture : Distinguishing Features of International Trade
	Video Lecture : Need for a Separate Theory of International Trade
Week-2	Module 2: Basic Theory of International Trade
	Video Lecture : The Theory of International Trade
	Video Lecture : The Theory of Comparative Advantage
	Video Lecture : The Opportunity Costs Theory
	Video Lecture : Dynamic Factors and International Trade
Week-3	Module 3: Advanced Theories of International Trade I
	Video Lecture: Heckscher-Ohlin Theory of Trade and Leontief Paradox
	Video Lecture : Theorem of Factor Price Equalisation
	Video Lecture : The Rybczynski Theorem and The Stopper Samuelson Theory
Week-4	Module 4: Advanced Theories of International Trade
	Video Lecture : Meaning and Significance of Intra-Industry
	Video Lecture : Vent-For-Surplus, Availability Approach;
	Video Lecture : Product-Cycle Model; Technological Gap Model
Week-5	Module 5: Gains from Trade
	Video Lecture : Concept of Gains from Trade,
	Video Lecture : Offer Curve: Derivation of Offer curve, Equilibrium terms of trade, Elasticity of Offer Curve;
	Video Lecture : Distribution of Gains from Trade in Terms of Offer Curves; Trade as an Engine of Economic Growth
Week-6	Module 6: Terms of Trade
	Video Lecture : Meaning and Components of Terms of Trade.
	Video Lecture : Gains from Trade and Factors Affecting Terms of Trade
	Video Lecture : International Trade and Domestic Prices; Relation of Foreign Trade to National Income
Week-7	Module 7: Trade, Growth and Immiserisation
	Video Lecture : Effects of Growth on Trade
	Video Lecture : Immiserising Growth: Explanation, Necessary Conditions for Immiserising Growth
	Video Lecture : Prebisch-Singer Thesis: Explanation, Criticisms and Distributive Effects
Week-8	Module 8: Tariff
	Video Lecture : Types and classification of Tariff:
	Video Lecture : Effects of Tariff under Partial Equilibrium; Effects of Tariff under General Equilibrium:
	Video Lecture : General Equilibrium analysis of Tariff in a Small Country and Large Country
	Video Lecture : Country;
	Video Lecture : Optimum Tariff: Optimum Tariff with Retaliation, The Optimum Tariff Formula
Week-9	Module 9: No-Tariff
	Video Lecture : Objectives of Import Quotas;
	Video Lecture : Dumping-Multilateralism and WTO;
	Video Lecture : The Role of The WTO in Anti-Dumping;
	Video Lecture : Multilateralism and WTO
Week-10	Module 10: Theory of Custom Union and SAARC
	Video Lecture : European Economic Community: BREXIT
	Video Lecture : South Asian Association for Regional Cooperation: Objectives of SAARC
Week-11	Module 11: Balance of Payments and International Monetary System
	Video Lecture : Balance of Payment: Meaning and Definition, Difference between BOP and BOT,
	Video Lecture : Equilibrium and Disequilibrium in BOP:
	Video Lecture : Process of Adjustment: Fixed Exchange Rate, Flexible Exchange Rate
	Video Lecture : Evolution of International Monetary System, Special Drawing Rights
	Video Lecture : International Capital Movements
Week-12	Module 12: Foreign Trade Multiplier and determination of exchange rate
	Video Lecture : The Concept of Foreign Trade Multiplier and Contractionary Effect of Increase in Imports on National Incomes;
	Video Lecture : Foreign Trade Repercussion
	Video Lecture : Effect of Increase in Investment and Export; Deficiencies of Foreign Trade Multiplier

Books and references

Salvatore, D. International economics. Wiley.
Jhingan, M. L. .International economics. Vrinda Publishing Pvt. Ltd.
Mannur, H. G. .International economics. Vikash Publishing House Pvt. Ltd.
Mithani, D. M. .International economics. Himalaya Publishing House.
Rana, K. C., & Verma, N..International economics. Vishal Publishing Co.
Sodersten, B., & Reed, G. International economics. Macmillan.
Krugman, P., Obstfeld, M., & Melitz, M. J. International economics: Theory and policy (10th ed.). Pearson.
Bhagwati, J. N., & Srinivasan, T. N.International trade: Theory and policy. MIT Press.

Instructor bio

Dr. Parag Dutta

Krishna Kanta Handiqui State Open University, Guwahati

Dr. Parag Dutta is an Associate Professor in Economics at Krishna Kanta Handiqui State Open University, Guwahati, Assam. With a Ph.D. from the Indian Institute of Technology Guwahati (2013) and over 14 years of teaching experience, he specializes in Econometrics, Financial Systems, and Operations Research. His research primarily focuses on Public Economics, employing advanced methodologies like time-series and panel data analysis using software such as SPSS, STATA and E-Views. Dr. Dutta has published extensively in reputed international and national journals, contributing to critical areas like fiscal sustainability, public infrastructure, and economic growth. He has also guided MPhil dissertations and currently supervises six Ph.D. scholars. He is an accomplished academic editor, serving as the editor of the Journal of Open Learning and Research Communication. In addition to his academic achievements, Dr. Dutta actively participates in capacity-building programs, national and international seminars, and as a resource person in workshops on research methodology and data analysis. Recognized for his dedication, he received the Best Teacher Award (2019) and the AAOU-COL Fellowship (2022). A commissioned Sub-Lieutenant in the NCC, Dr. Dutta embodies a dynamic blend of academic rigor, research excellence, and leadership in education.

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Dr. Sarmistha Rani Baruah

Krishna Kanta Handiqui State Open University, Guwahati

Dr. Sarmistha Rani Baruah is an Assistant Professor at Krishna Kanta Handiqui State Open University, where she has been serving since 2015. She also holds the position of Assistant Registrar (Examination In-charge), contributing to the smooth administration of academic assessments. She has been a recipient of various accolades, including the prestigious Shyam Sundor Award for excellence in Mathematics and multiple merit scholarships. She was awarded Ph.D. degree by Assam Agricultural University in the year 2017 specializing in the diversity of Citrus of Assam. She has developed a four-week self-paced course on Capacity Building of Tea Growers under the UNESCO Chair OER4BW initiative. She has also created a MOOC module on the SWAYAM platform to enhance learning opportunities. In addition to these, she is an active participant in national and international conferences and published number of research articles in regional, national and internarial journals, conference proceedings.

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