This course introduces students to the basis of trade: the theory of
comparative costs and comparative advantage, impediments to trade; balance of
payments; structure, interpretations and problems of definition; causes of
imbalance and methods of adjustment; analysis of official intervention;
stabilization funds and exchange controls; payment abroad; various forms of
making payments abroad, banking services and facilities available for this
purpose: problems and risk of Importation and exportation: official and
unofficial assistance available to overcome the problems; the theory and
practice of foreign exchange (spot and forward rates, fixed and flexible
exchange rates. speculation).
Level of Study: 400 Level