This course provides conceptual and theoretical framework with empirical evidences to understand recent developments in trade strategies and policy changes. Under the Pure Theory of Trade, the basis of trade, gains from trade, direction of specialization and its effects on factor of production are discussed. Various advanced theories on strategic trade and barriers are also incorporated. The discussions on Trade Policy introduce various aspects of protectionism with respect to tariff, quota, subsidies and some latest non-tariff measures (like SPSs and TBTs), trade blocs and regional trading arrangements. In short(a) to provide an analytical framework for understanding recent developments in trade issues(b) to explain country’s policy strategies to deal with the latest complexities in trade restrictions and facilitation to enhance trade.
INTENDED AUDIENCE : Under-Graduate and Graduating students inEconomics, Management Studies, International Business and Strategies. Professionals and Teachers specific to this field.
PREREQUISITES :Basics of Microeconomics Theory
INDUSTRY SUPPORT :Consultancy, Research and Analytics, Banking, Power, Director General of Foreign Trade (DGFT), Trainees at Ministry of Commerce and Industry, Faculties for capacity building
Week 1 : Introduction to International Trade and Protectionism Week 2 : Classical Theories of Trade – Basis for Trade Week 3 : New Theories of Trade – More Complexities Week 4 : Differentiated Products and Intra-Industry Trade Week 5 : Complete Versus Incomplete Specialization in Trade Week 6 : Partial Equilibrium Analysis of Trade Protectionism – Tariff Week 7 : Non-Tariffs including TBTs and SPSs Week 8 : WTO: Trade Blocks and Trade Blocs