Subject(s): Scale Economics -- International trade. -- Basic model of international trade : Commodity trade, Free trade equilibrium, Intra-Industry trade, -- Expanded gains from trade with resource movements : Production possibilities schedule and autarky equilibrium, Import demand -- Application and interpretations : Protecting Impot-competing goods, Growth and trade, Basic trade model, Trade and market structure -- Trade patterns, Income distribution and growth -- Technology and productivity- Ricardian trade model: International wage comparison and productivity, Globalization, Non-trade commodities, Globalisation -- Trade and local income distribution- Specific factor model : Diminishing return and factor hires, Income distribution, Political Economy aspects, Dutch disease -- Factor endowment and trade - 2*2 Heckscher-Ohlin Model : Rigid technology, Flexible technology and autarky comparison -- Trade, growth and product variety , Economic growth -- Trade in Intermediate goods and factors of production : fixed resources and footloose production processes , Factor movement , efficiency and welfare, International capital movement, Multinational and foreign direct investment -- Theory and practice of commercial policy : protection and the national welfare: Tariff, Domestic welfare, World welfare -- Political economy of protection : Revenue, Growth, Protection and welfare, Unemployment -- Trade policy and imperfect competition : Monopoly and the gains from trade, Consumer countries, Exporting and importing policies, Industrial policy and market rivalry -- Trade control in Practice : Multilateral tariff reduction, managed trade -- Preferential arrangements and regional issues in trade policy : Regional preference and trade, Asian NICs -- Money, income and the balance of payments : Balance of payments accounts , Double -entry booking -- Foreign exchange market and trade elasticities :Flow of supply and demand for foreign exchange, Trade balance -- National income and trade balance : Small country and two country Keynesian model, National saving investment identity,Multipliers -- Spending and the exchange rate in the Keynesian model : Expenditure-switching and expenditure-reducing policies , Monetary polices -- Money supply, the price level, and the balance of payment : Nonsterilization assumption, Purchasing power party assumption, Hyperinflation -- Developing countries and other small open economies with non-traded goods -- International financial markets and their macroeconomics implications -- Globalization of financial markets , Euromarket, Foreign exchange market, Liberalization -- Mundell-fleming model with partial international capital mobility : fiscal policy, Monetary policy -- Fiscal and monetary policy under modern financial market conditions , Policy under perfect capital mobility -- Crises in emerging markets : IMF country programmes. Devaluation, Capital control -- Interdependence and policy coordination : Floating Exchange rates, Econometric models of the interdependent world economy, international macroeconomic policy coordination -- Supply and inflation : Aggregate supply relationship, Indexed wages, Inflation, Exchange rate regime -- Determination of exchange rate in international asset markets -- Expectations, money and the determination of the exchange rate : Interest rate parity conditions -- Exchange rate forecasting and risk : exchange risk