It is our immense pleasure to bring out the book “International Economics: Theory and Policy” for T.Y.B.A. Economics, Paper-VIII, of the revised syllabus of Mumbai University as per Credit Based Semester and Grading System with effect from the academic year 2014-2015.
The present book has been written in a very simple and lucid manner, and experience of the faculties who are teaching the paper has been sought to prepare the book.
In the present book, the various sub-topics related to International Economics has been covered, such as in Unit-I: Balance of Payments: The Structure of Balance of Payments; Disequilibrium in BOP – Deficit and Surplus; Types and Causes of Disequilibrium; Measures (Monetary and Non-monetary) to Correct Disequilibrium in the BOP; Marshall-Lerner Conditions and so on.
Whereas in Unit-II: International Economic Institutions: IMF – Financing Facilities and Policies, SDR, Conditionality. WTO – Functions, Objectives and Principles; Agreements with Respect to TRIPS, TRIMS, GATS has been covered.
As far as Unit-III: Economics of Integration is concerned, it includes the Forms of Economic Integration; Objectives of Economic Integration; Theory of Customs Union – Trade Creation and Trade Diversion Effects; Cartels; Trade Blocs – ASEAN, EU, NAFTA, SAARC; Regionalism vs. Multilateralism.
In Unit-IV: Economic Crisis and Lessons: The Concepts of Financial Liberalization and Globalization; Currency Crisis – Meaning and Effects with Reference to East Asian Currency Crisis; European Monetary Union and the Euro Area Debt Crisis – Restructuring Sovereign Debt: Challenges and Issues; Global Financial Crisis (2007-09) has been covered.
Contents –
1. Balance of Payments (BOP)
2. International Economic Institutions
3. Economics of Integration
4. Economic Crisis and Lessons
Bibliography
