School of Economics

School of Economics | Part 2

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27 Mar Devaluation of the Indian Rupee

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Tejvan Pettinger The Indian Rupee has fallen in value against a basket of currencies since independence in 1947. In recent years, the Indian Rupee has continued to depreciate in value. Indian Rupee value against US Dollar In 1990, you could buy $1 for 16 Indian Rupees. By 2013,...

26 Mar Customs Union – advantages and disadvantages

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Tejvan Pettinger A Customs Union occurs when a group of countries agree to have free trade amongst themselves and agree on a common external tariff to countries outside the zone. It is a step towards a single market, but a customs union doesn’t include freedom of...

16 Mar Terms of Trade Effect

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Terms of Trade Effect Definition: The Terms of Trade is the average price of exports / by the average price of imports. It is a measure of a countries relative competitiveness. If export prices rise relative to import prices, we say there has been an improvement in the...

14 Mar Theories of Exchange Rate Determination | International Economics

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For the determination of the par values of different currencies, alternative theoretical explanations have been given. Some of the prominent explanations or theories include: 1. Mint Parity Theory 2. The Purchasing Power Parity Theory 3. The Balance of Payments Theory 4. The Monetary Approach to Foreign...