Microeconomic aspects of international economics; theories of international specialization and exchange; trade policy and economic welfare; international factor movement; trade and growth; trade and technical progress; trade policy and welfare economics. Product cycle, H.O. Theorem and factor price equalization, Regional blocks trading, WTO and trade liberalization. B.O.P deficit and approach to pure B.O.P. Determinants of foreign exchange rates. Foreign direct investment, International institutes and their role, IMF, World Bank etc.