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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.**

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**Demo Lectures**

**Exam Pattern**

**Internal Assessment (25 marks): The internal evaluation will consist of two class tests or one class test and a Project of 10 marks each, with 5 marks being allocated for attendance.**

**The End-semester Examination (75 marks): Questions will include a couple of parts with mathematical and numerical exercises. Such exercises may carry 25-35 marks. Equal weightage should be paid to the last three units.**

** 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****Lectures are as per Latest Syllabus for 2021**

**Lectures are as per Latest Syllabus for 2021****Unit – 1 : Introduction **

**Chapter 1 : Introduction [60 Minutes]**

**Based Upon Feenstra, Chapter 1**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 60 Minutes**

**Unit** – 2 : Neoclassical Trade Theories

**Unit**– 2 : Neoclassical Trade Theories

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

**Based Upon Krugman, Chapter 6**

**Based Upon Krugman, Chapter 6**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 112 Minutes**

**Chapter 5 : Heckscher – Ohlin Model [290 Minutes]**

**Based Upon Gandolfo, Chapter 4**

**Number of Lectures 9 Lectures**

**Total Duration of Lectures 290 Minutes**

**Chapter 6 : The Four Core Theorems [63 Minutes]**

**Based Upon Gandolfo, Chapter 5**

**Based Upon Gandolfo, Chapter 5**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 63 Minutes**

**Unit – 3 : New Trade Theories **

**Chapter 7 : Gravity Model [26 Minutes]**

**Based Upon Krugman, Chapter 2**

**Based Upon Krugman, Chapter 2**

**Number of Lectures 1 Lectures**

**Total Duration of Lectures 26 Minutes**

**Chapter 8 : External Economies of Scale [85 Minutes]**

**Based Upon Krugman, Chapter 7**

**Number of Lectures 1 Lectures**

**Total Duration of Lectures 85 Minutes**

**Chapter 9 : Firms in Global Economy [143 Minutes]**

**Based Upon Krugman, Chapter 8**

**Based Upon Krugman, Chapter 8**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 143 Minutes**

**Chapter 10 : Offshoring of Goods & Services [143 Minutes]**

**Based Upon Feenstra, Chapter 7**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 143 Minutes**

**Unit – 4 : Trade Policy **

**Chapter 11 : Instruments of Trade Policy [140 Minutes]**

**Based Upon Krugman, Chapter 9**

**Number of Lectures 4 Lectures**

**Total Duration of Lectures 140 Minutes**

**Chapter 12 : Political Economy of Trade Policy [140 Minutes]**

**Based Upon Krugman, Chapter 10**

**Based Upon Krugman, Chapter 10**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 140 Minutes**

**Chapter 13 : Export Policies [192 Minutes]**

**Based Upon Feenstra, Chapter 10**

**Number of Lectures 7 Lecture**

**Total Duration of Lectures 192 Minutes**

**Chapter 14 : Tariff & Non Tariff Barriers [37 Minutes]**

**Based Upon Gandolfo, Chapter 10**

**Based Upon Gandolfo, Chapter 10**

**Number of Lectures 1 Lectures**

**Total Duration of Lectures 37 Minutes**

**Chapter 15 : International Agreements [69 Minutes]**

**Based Upon Feenstra, Chapter 11**

**Number of Lectures 3 Lectures**

**Total Duration of Lectures 69 Minutes**

**Chapter 16 : The New Protectionism [50 Minutes]**

**Based Upon Gandolfo, Chapter 12**

**Based Upon Gandolfo, Chapter 12**

**Number of Lectures 2 Lectures**

**Total Duration of Lectures 50 Minutes**

**Chapter 17 : Offer Curve [48 Minutes]**

**Based Upon Gandolfo, Chapter 3**

**Number of Lectures 2 Lecture**

**Total Duration of Lectures 48 Minutes**

**End of Syllabus**

**Syllabus for International Trade as Prescribed by University of Delhi**

HE52_2021_International_Trade**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