A presentation based lecture on topic ROLE OF

A presentation based lecture on topic ROLE OF INTERNATIONAL TRADE Class: T. Y. B. Com Subject: Business Economics Paper-3 Presented by Dr. V. V. Mahamuni, Associate Professor, Department of Economics, Veer Wajekar A. S. C. College, Phunde (Uran) Navi Mumbai.

PRESENTATION OUTLINE • Purpose of presentation: To learn about role of international trade in economic development. • A brief summary of role of international trade in economic development Dr. V. V. Mahamuni/Dept-Economics/Veer Wajekar A. S. C. College, Phunde. 2

INTRODUCTION • Trade includes import and export of goods and services • Trade is an engine of economic development. • Trade is of two types: domestic and foreign (International) • David Ricardo said “ International trade beneficial to both the countries involved in to it. ” • Hekscher/Ohline Model throws light on benefits of trade. Dr. V. V. Mahamuni/Dept-Economics/Veer Wajekar A. S. C. College, Phunde. 3

ROLE OF INTERNATIONAL TRADE IN ECONOMIC DEVELOPMENT • Role: 1. Assistance to economic growth. 2. promotion to consumer welfare. 3. Wider market to producers. 4. Achievement of major macro goals etc. • To sum up. An international trade plays a very important role in economic development of country. Dr. V. V. Mahamuni/Dept-Economics/Veer Wajekar A. S. C. College, Phunde. 4

THANK YOU Dr. V. V. Mahamuni/Dept-Economics/Veer Wajekar A. S. C. College, Phunde. 5