The global Economy – Perspective on the theory of International Trade – The importance of International trade – Counter Trade – Forms of Counter Trade – Reasons for Growth of Counter Trade – Global Trade and Developing Countries.

International commodity Agreements – Quota agreements, Buffer stock Agreements –Carts – State Trading – Bilateral and Multilateral contracts. Gains from Trade – Terms of Trade –Factors influencing the terms of trade.

Tariff – Meaning – Tariffs, Taxes and Distortions – Imports Tariffs and Export Taxes –Export Subsidies – Arguments for free Trade – Arguments for protection – Demerits of protection – Trade barriers.

International Investments – Types of Foreign Investment – significance of Foreign Investments – Limitations and Dangerous of Foreign Capital – Factors affecting International Investment – Foreign Investment by Indian companies.

Multinational Corporation – Definition and Meaning – Importance of MNCS – benefits of MNCs – Criticism – Globalization – Meaning – stages – Essential conditions for Globalization – Implications and Importance of Globalization – Benefits – Obstacles to Globalization in India – Factors favoring Globalization.