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Master of Commerce (M.Com.) International Economics Syllabus - Mumbai University 2026

International Economics Syllabus.pdf
Mandatory course · Semester 3 · M.Com. Business Economics · 4 credits

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Syllabus for International Economics

Mandatory course · Semester 3 · M.Com. Business Economics · 4 credits

Module I: Theories of International Trade, Tariffs and Political Economy

  • (2 Credits)
  • Unit 1 International Trade Theories
  • The Ricardian Model - The Heckscher-Ohlin Model - Haberler’s Opportunity Cost Theory
  • Leontief Paradox - Stolper-Samuelson Theorem: Factor Price Equalization Theorem
  • Rybzynski Theorem – Bhagwati’s View on Immiserizing Growth - Technical Changes and International Trade
  • Unit 2 Tariff Analysis and Political Economy of Trade
  • Basic Tariff Analysis - Costs and Benefits of a Tariff – Export Subsidies – Case Studies - Tariff and Trade Policies -Brander Spencer Model
  • The Political Economy of Trade Policy- Controversy in International Trade Policies: Anti- Globalization Movements– WTO: Issues and Challenges - International Trade: Thread or Opportunities to Workers- External Economies of Scale and the International Location of Production –International
  • Factor Movements - Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises

Module II: Foreign Exchange Market and Recent Trends in International Trade

  • (2Credits)
  • Unit 3 Balance of Payment and Exchange Rate
  • Balance of Payment Account – Balance of Payment Crisis – Recent Case Studies
  • Exchange Rate and Foreign Exchange Markets - Interest Rates, Expectation and Exchange
  • Rates – Central Banks Intervention in Foreign Exchange Market
  • International Factor Movements and Theories of Foreign Direct Investments and Foreign
  • Institutional Investment, FDI Spillovers.
  • Unit 4 Recent Trends in International Trade
  • Who Trades with Whom – Gravity Model of Trade - Impediments to Trade: Distance, Barriers, and Borders – Changing Pattern of World Trade- Financial Globalization :
  • Opportunities and Crisis – India’s Foreign Trade Overview – Export and Import of Major Commodities to Principal
  • Countries- Challenges of Cross Border International Trade and Future Outlook
  • Regional Trade Blocks – BRICS- EU- NAFTA – G20- ASEAN SuggestedReferences:
  • 1 Carbaugh, Robert J (2018): International Economics, Seventeenth Edition. Thomson
  • South - Western
  • 2 Charles Van Marrewijk (2007): International Economics, Theory, Application and Policy, Oxford University Press.
  • 3 Handbook of Statistics on the Indian Economy 2022-23.
  • 4 Hoekman, B.M., &Mavroidis, P.C. (2015). World Trade Organization (WTO): Law, Economics, and Politics (2nd ed.). Routledge.
  • 5 Huiwen Gong, Robert Hassink, Christopher Foster, Martin Hess, Harry Garretsen, (2022) Globalisation in reverse? Reconfiguring the geographies of value chains and production networks, Cambridge Journal of Regions, Economy and Society, Volume
  • 15, Issue 2, Pages 165–181, https://doi.org/10.1093/cjres/rsac012
  • 6 Global Trade Outlook and Statistics 2024 available at https://www.wto- ilibrary.org/content/books/9789287076335
  • 7 Krugman, P., M. Obstfeld and M. Melitz (2017) :International Economics: Theory
  • and Policy. Pearson Global Edition; Tenth Edition
  • 8 Salvatore, Dominic (2004),Schaum’s Outlines, International Economics, 4 edition, Tata McGraw Hill.
  • 9 Salvatore, Dominic. (2013) International Economics: Trade and Finance, 11th ed.;
  • John Wiley and Sons Inc.: Hoboken, NJ, USA.
  • 10 Walter Stefanie. (2021) The backlash against globalization Annual Review of Political Science
  • 11 World Trade Report 2023.

Reproduced from the University of Mumbai syllabus for M.Com. (Business Economics) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

The complete syllabus

This subject is cut from the University circular for its specialisation. Open a document here if you want the whole thing rather than a single subject.

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