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