This book has been prepared with the objective of explaining the concepts of International Economics to students studying economics through the Marathi medium in a simple, systematic, academic, and examination-oriented manner. While designing the book, due consideration has been given to students’ level of understanding, the requirements of the syllabus, the perspective of university examinations, and the practical relevance of the subject.
The book covers the fundamentals of International Economics, ancient trade, India’s exports and imports, balance of payments, its disequilibrium, and the convertibility of the Indian rupee. It also includes the foreign exchange market, various types of exchange rates, the managed flexible exchange rate system, and different foreign exchange markets. Relevant examples and calculation methods have also been provided to help students understand these concepts more easily.
While writing this book, one thought remained constant in our minds: economics is not merely a subject of memorisation; it is an effective tool for understanding and interpreting the economic events taking place around us. Changes in the exchange rate of the rupee against the dollar, changes in India’s exports and imports, foreign investment, foreign exchange reserves, and the country’s balance of payments are economic developments that students should learn to examine from an economic perspective. This is one of the major objectives behind this book.
Students studying through the Marathi medium often face difficulties in understanding economic concepts because of technical terminology in English. Keeping this difficulty in mind, we have used simple, clear, and fluent Marathi language to the greatest extent possible in the book. Wherever necessary, commonly used English technical terms have been provided in parentheses so that students can easily establish a connection between the Marathi concepts and the economic terminology used at the international level.