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**The International Trade Course for BA (Hons) Economics Semester V, Delhi University has been taught by Mr. Dheeraj Suri. The Video Lectures are based upon the books prescribed by the University of Delhi. The Duration of Video Lectures is approximately 45 Hours.**

**Course Fee : Rs. 6000**

**Access of Video Lectures is provided on one device, Windows Computer or Android Phone, till end of Semester V Exams.**

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**You will Get**

**Full Course Video Lectures****Complete Study Material (PDF Notes) which includes Concepts, Previous Year Questions, Numerical Questions, MCQ’s and Important Questions****Online Discussion Forum to Post Your Queries to Discuss with Faculty & other fellow Students****Live online Doubts Sessions for resolution of Doubts****Mock Tests at the Website****Video Lectures Cover Theory Portions Exchaustively + Complete Solutions of Back Questions of readings + Solutions of Previous Years Papers + Large Number of Numericals**

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**Access of Video Lectures is provided on one device, Windows Computer or Android Phone, till end of the Semester V Exams**

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**Account Details**

**Dheeraj Suri**

**Saving Account Number**

**392010100053871**

**Axis Bank, Model Town Branch**

**Delhi – 110009**

**IFS Code : UTIB0000392**

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**Demo Lectures**

**Exam Pattern**

**The End-semester Examination (75 marks) will have the following format:The question paper will have two parts: Part A and B.Part A consists of Topic No. 1, 2 and 3. Part B consists of Topic 4.Part A shall have 5 questions (15 marks each), out of which 3 questions to be answered.Part B shall have 3 questions (15 marks each), out of which 2 questions to be answered.The weightage for numerical questions in Part A and B together shall be 15 to 20 marks**

**Questions may cut across chapters.**

** Click Here for Reading List of International Trade**

**Click Here for Reading List of International Trade**** Course Content of Our ****Video Lectures**

**Course Content of Our****Video Lectures****Topic** – 1 : Introduction

**Topic**– 1 : Introduction

**Chapter 1 : Gravity Model [26 Minutes]**

**Based Upon Krugman, Chapter 2**

**Number of Lectures 1 Lectures**

**Total Duration of Lectures 26 Minutes**

**Topic** – 2 : Theories of International Trade

**Topic**– 2 : Theories of International Trade

**Chapter 2 : Ricardian Model [242 Minutes]**

**Based Upon Krugman, Chapter 3**

**Based Upon Krugman, Chapter 3**

**Number of Lectures 5 Lectures**

**Total Duration of Lectures 242 Minutes**

**Chapter 3 : Specific Factors Model [163 Minutes]**

**Based Upon Krugman, Chapter 4**

**Number of Lectures 4 Lectures**

**Total Duration of Lectures 163 Minutes**

**Chapter 4 : Heckscher Ohlin Model [109 Minutes]**

**Based Upon Krugman, Chapter 5**

**Based Upon Krugman, Chapter 5**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 109 Minutes**

**Chapter 5 : Standard Trade Model [112 Minutes]**

**Based Upon Krugman, Chapter **6

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 112 Minutes**

**Chapter 6 :External Economies of Scale [85 Minutes]**

**Based Upon Krugman, Chapter 7**

**Based Upon Krugman, Chapter 7**

**Number of Lectures 1 Lectures**

**Total Duration of Lectures 85 Minutes**

**Chapter 7 : Firms in Global Economy [143 Minutes]**

**Based Upon Krugman, Chapter 8**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 143 Minutes**

**Topic** – 3 : Trade Policy

**Topic**– 3 : Trade Policy

**Chapter 8 : Instruments of Trade Policy [140 Minutes]**

**Based Upon Krugman, Chapter 9**

**Number of Lectures 4 Lectures**

**Total Duration of Lectures 140 Minutes**

**Chapter 9 : Free Trade [140 Minutes]**

**Based Upon Krugman, Chapter 10**

**Based Upon Krugman, Chapter 10**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 140 Minutes**

**Chapter 10 : Controversies in Trade Policy [48 Minutes]**

**Based Upon Krugman, Chapter 12**

**Number of Lectures 1 Lecture**

**Total Duration of Lectures 48 Minutes**

**Topic – 4 : International Macroeconomic Policy **

**Chapter 11 : Equilibrium in Foreign Exchange Market [65 Minutes]**

**Based Upon Krugman, Chapter 14**

**Number of Lectures 1 Lecture**

**Total Duration of Lectures 65 Minutes**

**Chapter 12 : Exchange Rate & Open Economy [308 Minutes]**

**Based Upon Krugman, Chapter 17**

**Based Upon Krugman, Chapter 17**

**Number of Lectures 5 Lectures**

**Total Duration of Lectures 308 Minutes**

**Chapter 13 : Fixed Exchange Rate [171 Minutes]**

**Based Upon Krugman, Chapter 18**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 171 Minutes**

**Chapter 14 : International Monetary System [83 Minutes]**

**Based Upon Krugman, Chapter 19**

**Based Upon Krugman, Chapter 19**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 83 Minutes**

**Chapter 15 : International Globalisation [63 Minutes]**

**Based Upon Krugman, Chapter 20**

**Number of Lectures 1 Lecture**

**Total Duration of Lectures 63 Minutes**

**End of Syllabus**

**Course Description**

**Course Objective**

The purpose of this course is to inform the basics of international trade theory and to examine the effects of international economic policies on domestic and world welfare. This course develops a systematic exposition of models that try to explain the composition, direction, and consequences of international trade, and the determinants and effects of trade policy. Although the course is based on abstract theoretical models, students will also be exposed to real-world examples and case studies.

**Course Learning Outcomes**

The module aims to introduce students to the main theoretical and empirical concepts in international trade, equip students with a thorough analytical grasp of trade theory, ranging from Ricardian comparative advantage to modern theories of intra-industry trade, and familiarise students with the main issues in trade policy and with the basic features of the international trading regime. At the end of the course, the students should be able to demonstrate their understanding of the economic concepts of trade theory. In some models, the student will be required to deal with simple algebraic problems that will help them to better understand these concepts, use diagrammatic analysis to demonstrate and compare the economic welfare effects of free trade and protection, demonstrate their understanding of the usefulness and problems related to topics in international trade, and demonstrate their critical understanding of trade policies.

**Unit 1**

Introduction: What is international economics about? An overview of world trade. Stylized facts about international trade

**Unit 2**

Neoclassical trade theories: Ricardian trade theory (notion of comparative advantage and gains from trade due to specialisation); an introduction to the distributional effects of trade; the specific factor model; Heckscher-Ohlin theory: Rybczinski and Stolper-Samuelson theorems; Heckscher-Ohlin theorem; factor price equalisation

**Unit 3**

New trade theories: external economies of scale, internal economies of scale; the Krugman model; firm heterogeneity; international movement of factors; introduction to the theory of multinational firms

**Unit 4**

Trade policy: instruments of trade policy; tariffs, quotas, export subsidies, voluntary export restraints. The economics of trade policy; political economy of trade policy; controversies in trade policy

**References**

1. Feenstra, R., Taylor, A. (2014). International economics, 3rd ed. Worth Publishers.

2. Krugman, P., Obstfeld, M., Melitz, M. (2018). International Economics -Theory and Policy, 11th ed. Pearson Education.

3. Pugel, T. (2015). International economics, 16th ed. McGraw-Hill