Concepts and elements of business environment: Economic environment- Economic systems, Economic policies(Monetary and fiscal policies); Political environment- Role of government in business; Legal environment- Consumer Protection Act, FEMA; Socio-cultural factors and their influence on business; Corporate Social Responsibility (CSR)
Scope and importance of international business; Globalization and its drivers; Modes of entry into international business
Theories of International Trade; Government intervention in international trade; Tariff and non-tariff barriers; India’s foreign trade policy
Foreign direct investment (FDI) and Foreign portfolio investment (FPI); Types of FDI, Costs and benefits of FDI to home and host countries; Trends in FDI; India’s FDI policy
Balance of payments (BOP): Importance and components of BOP
Regional Economic Integration: Levels of Regional Economic Integration; Trade creation and diversion effects; Regional Trade Agreements: European Union (EU),ASEAN, SAARC,
NAFTA
International Economic institutions: IMF, World Bank, UNCTAD
World Trade Organisation (WTO): Functions and objectives of WTO; Agriculture
