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