The theory of International Trade. Impact of dynamic factors in International Trade. Free Trade, Protection. Economic integration and developing countries. The balance of payments. International capital movements. Rate of exchange. Relationship between Trade, Foreign Aid and Economic Development. Role of multinational corporations in developing countries. The IMF and the International Monetary System. Trade problems of developing countries. The new International Economic order. The structure and trends of India's foreign trade. India's balance of payments. India's trade policy. Indian and international financial institutions.