- Credit Side: Receipts from abroad (exports, income, capital inflow).
- Debit Side: Payments made to foreign countries (imports, expenses, capital outflow).
- Current Account: Records export–import of goods (visible) and services (invisible).
- Capital Account & Overall BOP: Capital account balances deficits/surpluses; total BOP always balances.
Topics
Introduction to International Trade
- International Trade
- Need and importance of international trades
- Ricardo’S Theory of Comparative Costs
- Introduction of - Ricardo’S Theory of Comparative
- Assumptions of Ricardo’s Theory of Comparative
- Types of Cost Differences
- Examples of Ricardo’S Theory of Comparative
- Critical Evaluation of Ricardo’S Theory of Comparative
- Heckscher Ohlin Theory
- Introduction of Heckscher Ohlin Theory
- Assumption of the Theory
- Criticism / Shortcomings of the Theory
- Terms of Trade
- Types of Terms of Trade
- Limitaions of Terms of Trade
- Factors Determinig Terms of Trade
- Gains from International Trade
- Types/Forms of Gains from Trade
- Importance Gains from Trade
- Offer Curves and Reciprocal Demand
Commercial Policy
- Free Trade
- Features of Free Trade Policy
- Arguments for('Pros') and Arguments against ('Cons') of free trade policy
- Protection (Policy)
- Arguments in favour of protection policy / 'Pros' of protection policy
- Economic Arguments
- Non-economic Arguments
- Fallacious Arguments
- Arguments Against Protection Policy / 'Cons' of Protection Policy
- Tariff
- Types of Tariff Barriers
- Advantages of Tariff
- Disadvantages of Tariff
- Effects of Tariff/ Effects of Tariffs on an Economics
- Non-tariff Barriers
- Type/ Forms of Non-tariff Barriers (NTBs)
- International Economic Integration
- Types/Forms of international economic integration
- Objective of International Economic Integration
- Advantages of International Economic Integration
- Disadvantages of Economic Integration
- European Union (EU)
- Introduction of European Union
- History of European Union
- What does it take to qualify for membership in the EU
- Objectives of European Union
- Organisational Structure of European Union
- Benifits to India from Enlarged Eu
- Challenges to India
- BREXIT
- Introduction to Brexit
- Transion Period
- Chequers Plan
- Three Divorce Issue
- Association of South east Asian Nations(ASEAN)
Balance of Payments and International Economic Organization
- Features of Balance of Payment
- Structure of Balance of Payment
- Accounting System of Balance of Payment
- Monetary Measures for Balance of Payments
- Balance of Trade
- Types of Disequilibrium
- Causes of disequilibrium in the Balance of Payment
- Measures to Correct Disequilibrium in the Balance of Payments
- Current Scenario of India'S Balance of Payment
- Functions / Role of WTO
- TRIPS( the Argument on Trade-related Ascpects of Intellectual Property Rights)
- TRIMS(Trade Related Investment Measures)
- GATS (Genral Agreement on trade in services)
Foreign Exchange Market
- Organisation of the Foreign Exchange Market
- Functions of Foreign Exchange Market
- Features and Characteristic of Foreign Exchange Market
- Participants in Foreign Exchange Market
- Operations/ Transactions in Foreign Exchange Market
- Factors Affecting / Influencing Exchange Rate
- Determination of Equilibrium Rate of Exchange
- Purchasing Power Parity Theory
- Spot Rate
- Arbitrage
- Foreign Exchange Rate Management in India
- Role of Central Bank in Foreign Exchange Rate Management
- Managed Flexible Exchange Rate System of India
The Current account (components of current account, balance on current account)
The Capital account (components of capital account, balance on capital account)
CISCE: Class 12
