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Learn International Economics with Francis Cherunilam: A Review of His Book and Its Features



International Economics Francis Cherunilam Free Download Pdf




International economics is a fascinating and dynamic field that deals with the economic interactions among countries. It covers topics such as international trade, finance, development, integration, globalization and more. If you are interested in learning more about international economics, you might want to read a book by one of the leading experts in this field: Francis Cherunilam.




International Economics Francis Cherunilam Free Download Pdf



Francis Cherunilam is a renowned scholar and author who has written several books on international economics and business. His book International Economics is a comprehensive and updated textbook that covers both micro and macro aspects of international economics. It is designed to provide an analytical and critical account of theories and issues in a systematic and lucid manner.


In this article, we will tell you more about international economics, Francis Cherunilam and his book International Economics. We will also tell you how you can download the pdf version of his book for free. So keep reading to find out more.


International Economics: Definition and Scope




International economics is a branch of economics that studies how countries interact with each other through trade, finance, investment, migration and other economic activities. It also examines how these interactions affect economic growth, welfare, income distribution, stability and development.


International economics can be divided into two main subfields: international trade and international finance. International trade deals with the causes and consequences of trade flows among countries. It analyzes topics such as comparative advantage, trade policy, trade agreements, trade barriers, trade disputes and trade negotiations. International finance deals with the movements of money across borders. It analyzes topics such as exchange rates, balance of payments, foreign exchange markets, international monetary system, capital flows, foreign debt and international financial institutions.


International economics also covers other related topics such as international development, economic integration, globalization, multinational corporations, transfer of technology, official development assistance, international migration and environmental issues. These topics are important for understanding the challenges and opportunities faced by countries in the global economy.


Francis Cherunilam: Biography and Achievements




Francis Cherunilam is a distinguished scholar and author who has made significant contributions to the field of international economics and business. He is a postgraduate in Economics and Management and a doctorate in International Business. He has received the first Air India Excellence Award for teachers and has been a scholar of international repute.


He has been a professor and chairman of Marketing Area at the Indian Institute of Management, Kozhikode, a director of School of Management Studies at Cochin University of Science and Technology and a head of several private B-Schools. He has also been a visiting faculty at various institutions in India and abroad.


He has written about five dozen books, over 300 research papers and articles and a large number of papers presented at national and international conferences. His books are recommended for postgraduate and graduate courses in Management, Commerce, Economics, Architecture, Computer Science, Urban and Regional Planning, Law, Public Administration, Sociology, Demography, Habitat and others by universities and institutes throughout India and by some foreign universities.


Some of his popular books include International Economics, International Business, Global Economy and Business Environment, International Trade and Export Management, Economic Reforms in India and Abroad, International Marketing, Industrial Marketing, Business Environment, Business and Government, Business Policy and Strategic Management, Industrial Economics and others. His books such as Urbanisation in Developing Countries, Migration: Causes, Correlates, Consequences, Trends and Policies; Fisheries: Global Perspective & Indian Development and Housing in India are widely acknowledged as basic references for research in these areas.


International Economics by Francis Cherunilam: Overview and Contents




International Economics by Francis Cherunilam is a comprehensive and updated textbook that covers both micro and macro aspects of international economics. It is designed to provide an analytical and critical account of theories and issues in a systematic and lucid manner. It is suitable for undergraduate and postgraduate students of international economics as well as for teachers and researchers.


The book has been thoroughly revised and modified to incorporate significant changes and trends since the publication of the fifth edition more than a decade ago. The current edition is characterized by updating of information and significant modifications and recasting of most of the chapters.


The book consists of 24 chapters divided into six parts. The contents of the book are as follows:



Part


Title


Chapters


I


Introduction


  • The Nature And Scope Of International Economics



  • The International Economic Gap And NIEO



  • The Global Trade And Globalisation



  • Economic Integration And Cooperation



II


Theories Of International Trade And Trade Policy


  • The Classical Theory Of International Trade



  • The Modern Theory Of International Trade



  • The Terms Of Trade And Gains From Trade



  • The Factor Endowment Theory And Factor Price Equalisation Theorem



  • The New Trade Theories And Strategic Trade Policy



  • The Theory Of Tariffs And Non-Tariff Barriers To Trade



  • The Theory Of Economic Integration And Regionalism In World Trade



  • The Theory Of Customs Union And Partial Equilibrium Analysis Of A Customs Union



  • The General Equilibrium Analysis Of A Customs Union And The Theory Of Optimum Currency Areas



  • The Theory Of Trade Policy And The Political Economy Of Protectionism



  • The Theory Of Dumping And Anti-Dumping Measures In International Trade



  • The Theory Of Balance Of Payments And Adjustment Mechanisms



  • The Foreign Exchange Market And Exchange Rate Determination



  • The Purchasing Power Parity Theory And The Real Exchange Rate



  • The Monetary Approach To Balance Of Payments And Exchange Rate Determination



  • The Portfolio Balance Approach To Exchange Rate Determination And The Asset Market Model



  • The Exchange Rate Regimes And The International Monetary System



  • The International Capital Flows And The International Financial Markets



  • The Multinational Corporations And Foreign Direct Investment



  • The Transfer Of Technology And Intellectual Property Rights In International Trade



  • The Official Development Assistance And The Role Of Multilateral Development Institutions In International Trade And Development



International Debt Crisis And The Debt Management Strategies In Developing Countries




One of the major challenges faced by many developing countries in the global economy is the problem of external debt. External debt is the amount of money that a country owes to foreign creditors, such as private banks, international financial institutions and other governments. External debt can be beneficial for a country if it is used to finance productive investments that generate economic growth and development. However, external debt can also become a burden for a country if it exceeds its repayment capacity and creates a debt crisis.


A debt crisis occurs when a country is unable to service its external debt obligations, either by paying the interest or repaying the principal. A debt crisis can have serious negative consequences for a country's economy and society, such as lower growth, higher inflation, reduced public spending, social unrest and political instability. A debt crisis can also affect the global economy by creating financial contagion, reducing trade and investment flows and undermining confidence and cooperation among countries.


The international debt crisis emerged in the early 1980s when several developing countries, especially in Latin America and Africa, faced difficulties in meeting their debt service payments due to a combination of factors, such as high interest rates, low commodity prices, weak export performance, overvalued exchange rates and poor economic management. The crisis was exacerbated by the reluctance of commercial banks to lend more money to these countries and the lack of an effective mechanism to resolve the debt problem.


Since then, various efforts have been made by the international community to address the debt crisis and help the debtor countries restore their debt sustainability and economic growth. These efforts include debt rescheduling, debt restructuring, debt relief and debt cancellation. Debt rescheduling involves extending the maturity or lowering the interest rate of existing loans to ease the repayment burden. Debt restructuring involves exchanging old loans for new ones with more favorable terms and conditions. Debt relief involves reducing or writing off part of the outstanding debt owed by a country. Debt cancellation involves forgiving the entire debt owed by a country.


Some of the initiatives that have been implemented to provide debt relief and cancellation to developing countries include the Brady Plan, the Heavily Indebted Poor Countries (HIPC) Initiative, the Multilateral Debt Relief Initiative (MDRI) and the G20 Debt Service Suspension Initiative (DSSI). The Brady Plan was launched in 1989 by the US Treasury Secretary Nicholas Brady to facilitate voluntary debt reduction agreements between commercial banks and debtor countries. The HIPC Initiative was launched in 1996 by the IMF and the World Bank to provide comprehensive debt relief to the poorest and most indebted countries that meet certain criteria. The MDRI was launched in 2005 by the IMF, the World Bank and other multilateral creditors to cancel 100% of their claims on eligible HIPC countries. The DSSI was launched in 2020 by the G20 group of major economies to suspend bilateral official debt service payments for 73 low-income countries affected by the COVID-19 pandemic.


These initiatives have helped many developing countries reduce their external debt burdens and free up resources for development priorities. However, they have also faced some limitations and challenges, such as insufficient coverage, conditionalities, moral hazard, creditor coordination and sustainability. Moreover, new sources and forms of external debt have emerged in recent years that pose new risks and challenges for developing countries, such as private sector debt, domestic debt, contingent liabilities and non-concessional loans from emerging creditors like China.


Therefore, there is a need for a more comprehensive and coordinated approach to address the international debt crisis and prevent its recurrence in the future. This approach should include enhancing debt transparency, strengthening debt management capacity, improving debt sustainability analysis, promoting responsible lending and borrowing practices, reforming the international financial architecture and fostering international cooperation and solidarity.


Conclusion




In this article, we have discussed international economics, Francis Cherunilam and his book International Economics. We have also explained how you can download the pdf version of his book for free.


How to Download International Economics by Francis Cherunilam Pdf for Free




If you are interested in reading International Economics by Francis Cherunilam, you might be wondering how you can download the pdf version of his book for free. After all, buying a hard copy of the book can be expensive and inconvenient. However, before you start searching for free pdf downloads, you should be aware of some legal and ethical issues involved in downloading books for free.


First of all, you should respect the intellectual property rights of the author and the publisher. Downloading a book for free without their permission can be considered as piracy and infringement of their copyrights. This can have negative consequences for both the author and the publisher, as they lose their revenues and incentives to produce more quality books. It can also have negative consequences for you, as you might face legal actions or penalties if you are caught downloading pirated books.


Secondly, you should be careful about the sources where you download books for free. Some websites or platforms that offer free pdf downloads might not be reliable or trustworthy. They might contain viruses, malware or spyware that can harm your device or compromise your personal information. They might also provide low-quality or incomplete versions of the book that can affect your reading experience and learning outcomes.


Therefore, we recommend that you download books for free only from legitimate and reputable sources that have the permission of the author and the publisher to distribute their books for free or at a low cost. Some of these sources are:



  • Google Books: Google Books is a service that allows you to search and preview millions of books online. Some books are fully available for free download in pdf format, while others are partially available with limited pages or snippets. You can check if International Economics by Francis Cherunilam is available for free download on Google Books by clicking here.



  • Open Library: Open Library is a project that aims to create a web page for every book ever published. It provides access to over 20 million books that you can borrow or download for free in various formats, including pdf. You can check if International Economics by Francis Cherunilam is available for free download on Open Library by clicking here.



  • PDF Drive: PDF Drive is a search engine that allows you to find and download over 80 million free pdf files of books, articles, reports and more. You can check if International Economics by Francis Cherunilam is available for free download on PDF Drive by clicking here.



These are some of the sources where you can find and download International Economics by Francis Cherunilam pdf for free or at a low cost. However, we advise you to use these sources with caution and discretion, as we cannot guarantee their quality, accuracy or legality. We also encourage you to support the author and the publisher by buying a hard copy of the book if you can afford it and if you find it useful.


Conclusion




In this article, we have discussed international economics, Francis Cherunilam and his book International Economics. We have also explained how you can download the pdf version of his book for free.


FAQs




Here are some frequently asked questions and answers related to the topic of the article:



  • What is the difference between international economics and international business?



International economics is a branch of economics that studies how countries interact with each other through trade, finance and other economic activities. International business is a broader term that encompasses all the activities of firms and individuals that cross national boundaries, such as production, marketing, finance, management and strategy.


  • Who are the main contributors to the development of international economics?



There are many contributors to the development of international economics, but some of the most influential ones are Adam Smith, David Ricardo, John Stuart Mill, Alfred Marshall, Eli Heckscher, Bertil Ohlin, Paul Samuelson, Robert Mundell, Jagdish Bhagwati and Paul Krugman.


  • What are the main benefits and costs of international trade?



The main benefits of international trade are that it allows countries to specialize in what they do best, exploit economies of scale, increase competition, enhance consumer choice, promote innovation and foster economic growth and development. The main costs of international trade are that it can create winners and losers within and across countries, cause structural adjustment problems, generate trade imbalances, create environmental and social problems and undermine national sovereignty.


  • What are the main determinants of exchange rates?



The main determinants of exchange rates are the supply and demand for foreign currencies in the foreign exchange market. The supply and demand for foreign currencies depend on various factors such as interest rates, inflation rates, trade balances, capital flows, expectations, speculation and government policies.


  • What are the main challenges and opportunities for developing countries in the global economy?



The main challenges for developing countries in the global economy are to overcome poverty, inequality, debt, instability, corruption, governance issues, institutional weaknesses, human capital deficiencies and environmental degradation. The main opportunities for developing countries in the global economy are to benefit from trade liberalization, foreign investment, technology transfer, regional integration, multilateral cooperation and global governance reforms.


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