Role of International Trade in Economic Development
This presentation focuses on the significant role of international trade in economic development, highlighting benefits such as assistance to economic growth, promotion of consumer welfare, providing wider markets for producers, and achieving major macro goals. The lecture covers the basics of trade, its types (domestic and international), and insights from renowned economists like David Ricardo. Presented by Dr. V. V. Mahamuni, Associate Professor at Veer Wajekar A.S.C. College, the session aims to enhance understanding of the pivotal role international trade plays in a country's economic progress.
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Presentation Transcript
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
