Theoretical Part Topics:
1. Introduction to International Trade
2. Trade Barrier & Imperfect Competition
3. Trade Body, Trade Law and Product introduction
4. World Apparel Market and BDG RMG Sector
5. Market and Demand Analysis
6. World Market analysis and Potentialities
7. Introduction to Marketing and Export Promotion
8. Communication Strategy
9. Process of Export and Import
International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
International economics deals with the economic relations among nations. The resulting interdependence is very important to the economic well-being of most nations of the world and is on the increase. The economic relations among nations differ from the economic relations among the various part of a nation. This gives rise to different problems, requiring somewhat different tools of analysis, and justifies International Economics as a distinct and separate branch of “Applied” Economics.
International economics deals with
1) The Pure Theory of Trade. This examines the basis for trade and the gains from trade.
2) The Theory of Commercial Policy. This studies the reasons for and the results of obstructions to the free flow of trade.
3) The Balance of Payments. This examines a nation’s total payments to and total receipts from the rest of the world. These involve the exchange of one currency with others.
4) Adjustment in the Balance of Payments. This deals with the mechanism of adjustment to balance of payments disequilibria under different international monetary systems.
Group 7
AGUILA, Don George Kinsee M.
DIMACULANGAN, Shella H.
DINGLASAN, Rydg Chrejt V.
MANTUANO, Dannah Francesca B.
OLAN, Elona Mathel B.
PAALA, Kaycee Ericka B.
PROMENTILA, Julie Anne E.
A2D - Macecon
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
international trade theory
,
why is free trade beneficial
,
what role does government have in trade
,
what is mercantilism
,
what is the heckscher-ohlin theory
,
how does the theory of absolute advantage work
,
is a current account deficit bad
,
what is smith’s theory of absolute advantage
,
what is the balance of payments
,
what is new trade theory
,
what is ricardo’s theory of comparative advantage
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
international trade theory
,
why is free trade beneficial
,
what role does government have in trade
,
what is mercantilism
,
what is the heckscher-ohlin theory
,
how does the theory of absolute advantage work
,
is a current account deficit bad
,
what is smith’s theory of absolute advantage
,
what is the balance of payments
,
what is new trade theory
,
what is ricardo’s theory of comparative advantage
The theory of comparative advantage, first developed by English economist David Ricardo in 1817, is a theory about the potential gains from trade for companies, countries or people that arise on account of differences in factor endowments or technological progress.
This presentation tells us about the how statistics tools are used to calculate how a country is performing internationally.
Kuldeep Bhardwaj- bhardwajkuldeep012@gmail.com
Gains from international trade-Terms of trade-Technical progress & trade -Balance of payment-Balance of trade-economic effects and trade restrictions-Bilateralism-OPEC & other International cartels
Gains from international trade-Terms of trade-Technical progress & trade -Balance of payment-Balance of trade-economic effects and trade restrictions-Bilateralism-OPEC & other International cartels
The Global
Economic
Environment
1
Interesting The Guardian story about Italy that combines Culture (population) + Political (govt business subsidies) + Economic environments
https://www.theguardian.com/world/2019/sep/11/underpopulated-italian-region-molise
Global Economic Environment
1 of 2
International Trade Theory
firms expanding internationally must appreciate how their international activities match with a country’s goals for international trade
Balance of Payments
a leading indicator of the international economic health of a country and may directly influence a firm’s expansion decisions https://tradingeconomics.com/united-states/balance-of-trade
Government Policy and Trade
firms are directly impacted by government policies in areas such as tariffs and non-tariff barriers
3
Global Economic Environment
2 of 2
Institutions in the World Economy
institutions such as the World Trade Organization and the World Bank greatly influence trade policies, and ultimately can influence a firm’s global strategy
Regional Economic Integration
firms generally benefit from economic integration through lower costs of doing business. However it can also lead to stronger competitors
4
International Trade Theory
Why do nations trade?
Key international trade theories:
Absolute Advantage and Comparative Advantage
Product Life Cycle – Trade patterns and production over time
5
Comparative Advantage
“Different countries have dissimilar prices and costs on goods because different goods require a different mix of factors in their production and because countries differ in their supply of these factors.” (Ohlin)
e.g., Can you grow salmon in Texas?
6
Product Life Cycle
Four Phases of the Product Life Cycle:
Phase 1: the U.S. exports the product
Phase 2: foreign production starts
Phase 3: foreign production becomes competitive in export markets
Phase 4: import competition begins
The Product Life Cycle may not explain trade and production patterns as well anymore due to:
Short gap between phases
“Born globals” may skip some phases
7
Product Life Cycle
1 of 3
Developed Nation (strong economy)
Produces more than consumes at the beginning, then a switch
8
Product Life Cycle
2 of 3
Emerging Nation
Consumes more than produces at the beginning, then a switch
9
The Consumer PLC
Extending a Product in Other Markets
Balance of Payments 1 of 2
The Balance of Payments (BOP) is a summary of a country's economic transactions w/the world, for a specified period of time.
Current Account
Goods (Merchandise)
Services
Unilateral Transfers
http://www.bea.gov/newsreleases/glance.htm
http://tse.export.gov/TSE/
https://economictimes.indiatimes.com/markets/forex/indian-rupee-hits-an-all-time-low-of-72-69-versus-us-dollar/videoshow/65769296.cms
11
U.S. Imports
vs. Exports
https://tradingeconomics.com/united-states/balance-of-trade
Financial considerations
Reflects a country’s solvency/economic health
Steady loss of foreign exch.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Resume
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If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
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how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
1. Theoretical Part Topics
Introduction to International Trade
Trade Barrier & Imperfect Competition
Trade Body, Trade Law and Product introduction
World Apparel Market and BDG RMG Sector
Market and Demand Analysis
World Market analysis and Potentialities
Introduction to Marketing and Export Promotion
Communication Strategy
Process of Export and Import
2. Some Basic Concept
GDP
GNP
Growth Rate
Exchange rate
Terms of Trade
Monetary Policy
Fiscal Policy
Unemployment rate
Age structure
Population Size
Purchasing Power
Parity (PPP)
Country’s Trade
Openness
5. Why Countries Trade?
Trade of a commodity can be executed due to this
reasons.
1. The country can’t produce or its production level is
not enough.
The rationale is very clear for such kind of trade. For exmp.
UK imports Banana from Brazil ; China imports copper.
2. The country has capability of producing goods but
still imports of that goods.
This kind of trade is of greater interest because it accounts
for a majority of world trade today.
7. Absolute Advantage
The principle of absolute advantage refers to the ability of a party (an
individual, or firm, or country) to produce more number of a good product
or service than competitors, using the same amount of resources. For
instance -
Absolute advantage in case of two countries and two goods
Country
Goods
Bangladesh China
Clothing 20 10
Food 30 40
In terms of absolute advantage, Bangladesh is superior than China in
producing Clothing and China is superior than Bangladesh in producing
food.
8. Recardian theory: Comparative
Advantage
In international economics, source of comparative advantage
is a controversial issue. British economist David Ricardo (1772-
1823) explained in his Ricardian theory that comparative
advantage occurs due to technological difference. Though, two
countries may have same opportunity in a specific factor of
production, the country enjoys comparative advantage which
has greater productivity that means technological difference.
9. Comparative Advantage
Comparative advantage in case of two countries and two
goods:
Here, Bangladesh has comparative advantage in
producing clothing where as China has comparative
advantage in producing food.
Country
Goods Bangladesh China
Clothing 20 30
Food 10 50
10. Revealed Comparative Advantage (RCA)
The Balassa index considers revealed comparative advantage with
respect to total world trade.
The formula of RCA calculation is as follows
Where xiw
k= Country i’s export of good k to world
Xiw=Country i’s total export to world
xww
k=World export of good k to world
Xww=Total world export to world
)
X
X
()
X
X
(RCA
ww
k
ww
iw
k
iwk
iw
11. RCA Explaination(Continued)
product
code
Total Export
Value of
Knitwear of
BD (Eij)
Total export of
BD (∑Ej)
World
Export of
Knitwear
(Eiw)
world total
export of all
goods (∑Ew)
RCA
61 13.16 30.99 223.37 17974.40 34.17
A comparative advantage is “revealed” if RCA>1. If
RCA is less than unity, the country is said to have a
comparative disadvantage in the commodity or
industry.
RCA of Bangladesh Knitwear 2013(Million US$)
12. Other Trade Theory
• Heckscher-Ohlin Model:
A country with much capital compared to labor will
have a comparative advantage in capital intensive
goods and a country with much labor compared to
capital will have a comparative advantage in labor
intensive goods.
• Stolper-Samuelson Theorem:
International trade will increase the incomes of some
resources and lower the incomes of other resources
within each country.
• Factor Price Equalization theorem
• Rybczynski theorem.
13. Balance of Payment
Balance of Payment (BoP) is a statement of accounts of
a country of all economic transactions that it engages in
with the rest of the world. Transactions include trade
in goods, services, and financial instruments and each
transaction is noted either as a credit (+) or a debit (-)
item. In general
where Balancing Item is simply an amount that
accounts for any statistical errors.
ItemBalancingAccountCapitalAccountCurrentBoP
14. Terms of Trade
A country’s terms of trade measures a country’s
export prices in relation to its import prices, and is
expressed as:
When the terms of trade rise above 100 they are said
to be improving and when they fall below 100 they
are said to be worsening. This is an indicator of
competitiveness.
100
priceImportofIndex
priceExportofIndex
Tradeoferms T
15. Terms of Trade (cont.)
So , Using the Data of
FY 2013 from the table,
we have
3.70
100
6.345
9.242
ToT
16. Trade openness
Trade openness is a measure of the value of total trade (export +
import) as a percentage of GDP.
It shows the importance of international trade in the overall economy.
It can give an indication of the degree to which an economy is open to
trade. However it largely determined by factors like tariffs, non-tariffs
barriers, foreign exchange, non trade policies and structure of national
economies. Mathematically
Where d is the country under study, s is the set of all other countries , X is
total bilateral exports, M is total bilateral imports and GDP is Gross Domestic
Product.
100OpennessTrade
d
s s
sdds
GDP
MX
17. Monetary and Fiscal Policy
These two policy measures has significant impact on
international Trade.
Monetary Policy which is adopted by Central Bank of a country.
For instance, Bangladesh Bank promulgates half yearly
monetary policy on regular basis.
Fiscal Policy is adopted by Government of a country. It is
basically an account of income and expanse of govt. i.e. govt.
budget. A government can also reduce spending power more
directly by means of higher taxation, hire-purchase controls,
etc.
18. Foreign Exchange Regime
Foreign exchange market is a market where foreign
currencies are exchanged by govt., exporters, importers,
financial institutions, tourists, currency speculators, and
anybody who wants to engage in international trade.
Exchange rate is the rate at which one currency can be
exchanged for another usually expressed as the value of
the one in terms of the other. For instance,
A dollar can be exchange with TK 80. So,
0.0125
80
1
e
Dollar
Taka
(e)dollarofrateexchange
19. Types of Exchange rate
The followings are the types of exchange rate regime
Flexible or Floating Exchange Rate Regime
Managed Floating Exchange Rate Regime
Fixed or “Pegged” Exchange Rate Regime
Other things that should keep in mind:
Appreciation is the Strengthening of one currency against
another
Depreciation is the weakening of one currency against
another.
Exchange Rate appreciation would lead to trade deficit.
Exchange Rate depreciation would lead to trade surplus.
20. Reference
For further study
“Principal of Economics”
Greg Mankiw.
“International Trade Theory and Policy”
Miltiades Chacholiades.
“International Trade: Theory and Policy”
Paul R. Krugman.