NDSS Academy

International Trade and Indian Economy (B.A Economics)

Theories of trade, balance of payments, exchange rates and the structure and problems of the Indian economy.

6 MonthsDuration 5Chapters29Topics
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Syllabus · पाठ्यक्रम

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01Unit 1: Theories of International Trade 7 topics
  1. Internal and international trade
  2. Adam Smith's absolute advantage
  3. Ricardo's comparative cost theory
  4. Haberler's opportunity cost theory
  5. Heckscher-Ohlin theory
  6. Gains from trade
  7. Terms of trade
02Unit 2: Balance of Payments and Exchange Rate 6 topics
  1. Balance of trade and balance of payments
  2. Current and capital account
  3. Causes of disequilibrium and corrective measures
  4. Exchange rate: mint parity and purchasing power parity theories
  5. Fixed and flexible exchange rates
  6. Devaluation and depreciation
03Unit 3: Trade Policy and International Institutions 5 topics
  1. Free trade versus protection
  2. Tariffs, quotas and other trade barriers
  3. WTO: objectives and agreements
  4. IMF and the World Bank
  5. India's foreign trade policy
04Unit 4: Structure of the Indian Economy 5 topics
  1. Basic features of the Indian economy
  2. Demographic features and census
  3. Sectoral composition of GDP and employment
  4. Natural resources
  5. Role of agriculture, industry and services
05Unit 5: Problems of the Indian Economy 6 topics
  1. Poverty: measurement and programmes
  2. Unemployment: types and schemes
  3. Inequality of income and wealth
  4. Inflation in India
  5. Regional imbalance
  6. Composition and direction of India's foreign trade

About

You will be able to

  • Explain the absolute advantage, comparative cost, opportunity cost and Heckscher-Ohlin theories of trade
  • Work out gains from trade and the terms of trade
  • Distinguish balance of trade and balance of payments and explain methods to correct a deficit
  • Explain exchange rate determination, the PPP theory and devaluation
  • Describe the roles of WTO, IMF and the World Bank and the debate on free trade versus protection
  • Describe the structure of the Indian economy and analyse its major problems

Who it is for

  • B.A Semester 4 students with Economics as a major subject (UP State Universities, NEP 2020)
  • Aspirants of UPSC, UPPSC and other exams with an Indian economy section

What you need

  • Principles of Micro and Macroeconomics (Semesters 1-3) or equivalent basics

Questions

Which syllabus does this course follow?

It follows the UP State Universities NEP 2020 common minimum syllabus (MGKVP, VBSPU, Lucknow University and others) for B.A Economics, Semester 4. Where your own university's syllabus differs, the centre follows your university syllabus.

How will I be tested?

Unit-wise MCQ tests, short and long answer practice in university exam pattern, and a final mock paper.

Does the course help in competitive exams?

Yes. The Indian economy units are also the core of the economy section in UPSC, UPPSC and SSC exams.

Download the syllabus (PDF)

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