UGC NET Management Unit - IX Syllabus

Unit - IX syllabus — full chapter and topic list

Expand any chapter to see its topics and sub-topics. This is the whole examinable outline for Unit - IX in UGC NET Management, not a summary of it.

1. 1

   Managing Business in Globalization Era

   1 topic

   • Theories of International Trade
2. 2

   Foreign Direct Investment

   2 topics

   • Benefits
   • Costs
3. 3

   Multilateral regulation of Trade and Investment under WTO

   overview

   Examined as a single unit within Unit - IX — no further topic split in the official outline.

4. 4

   International Trade Procedures and Documentation

   1 topic

   • EXIM Policies
5. 5

   Role of International Financial Institutions

   2 topics

   • IMF
   • World Bank
6. 6

   Information Technology

   3 topics

   • Use of Computers in Management Applications
   • MIS
   • DSS
7. 7

   Artificial Intelligence and Big Data

   overview

   Examined as a single unit within Unit - IX — no further topic split in the official outline.

8. 8

   Data Warehousing, Data Mining and Knowledge Management

   1 topic

   • Concepts
9. 9

   Managing Technological Change

   overview

   Examined as a single unit within Unit - IX — no further topic split in the official outline.

Unit - IX flashcards for UGC NET Management

19 of 50 cards from the Unit - IX deck — real questions with worked answers.

1. What is the Theory of Absolute Advantage and who proposed it?

   Proposed by Adam Smith (1776), it states a country should specialize in and export goods it can produce more efficiently (at lower absolute cost) than other countries, and import goods produced less efficiently.

2. What is the Theory of Comparative Advantage and who proposed it?

   Proposed by David Ricardo (1817), it states a country should specialize in producing and exporting goods in which it has the lowest opportunity cost (comparative advantage), even if it has no absolute advantage. Both countries gain from trade.

3. What is the Heckscher-Ohlin (Factor Endowment) Theory of international trade?

   It states that countries export goods that intensively use their abundant and cheap factors of production and import goods that use their scarce factors. Trade arises from differences in factor endowments (labour, capital, land).

4. What is the Mercantilist theory of international trade?

   An early (16th-18th century) doctrine holding that national wealth is measured by gold/silver stocks; nations should maximize exports and minimize imports to maintain a favourable trade balance (trade surplus).

5. What is the difference between Absolute Advantage and Comparative Advantage?

   Absolute advantage compares actual productivity/cost between countries; comparative advantage compares opportunity costs. A country can gain from trade via comparative advantage even with no absolute advantage in any good.

6. What does the Leontief Paradox refer to?

   Wassily Leontief's empirical finding that the capital-abundant USA exported labour-intensive goods and imported capital-intensive goods - contradicting the prediction of the Heckscher-Ohlin theory.

7. What is Vernon's Product Life Cycle theory of trade?

   Raymond Vernon's theory that products move through stages (new product, maturing product, standardized product); production initially occurs in the innovating (developed) country, then shifts to other developed and finally developing countries as the product standardizes.

8. What is the New Trade Theory associated with Paul Krugman?

   It explains trade through economies of scale, network effects, and product differentiation; first-mover advantages and increasing returns allow a few firms/countries to dominate certain industries even without factor or cost differences.

9. What is Porter's Diamond Model (theory of national competitive advantage)?

   Michael Porter's framework explaining why nations gain competitive advantage in industries via four determinants: (1) Factor conditions, (2) Demand conditions, (3) Related & supporting industries, (4) Firm strategy, structure & rivalry.

10. List the main benefits (gains) from international trade.

    Optimal resource allocation and specialization, access to a wider variety of goods, economies of scale, lower prices for consumers, technology and knowledge transfer, increased competition/efficiency, employment generation, and access to foreign exchange.

11. What are 'gains from trade' in economics?

    The net benefits each country receives from voluntary trade, arising from specialization according to comparative advantage; both partners can consume beyond their domestic production possibility frontier.

12. What are the main costs/disadvantages of international trade?

    Dependence on foreign markets, vulnerability to external shocks, harm to infant/domestic industries, trade deficits, exploitation of resources, dumping, loss of economic sovereignty, and possible widening of income inequality.

13. What is 'dumping' in international trade?

    Selling goods in a foreign market at a price below their normal value (often below cost or below the home-market price), typically to capture market share or dispose of surplus, harming domestic producers of the importing country.

14. What is the EXIM (Export-Import) Policy / Foreign Trade Policy of India?

    A set of guidelines and instructions issued by the Government of India (DGFT, Ministry of Commerce) governing the export and import of goods and services, aimed at promoting exports and regulating imports to boost the economy.

15. Which authority administers India's EXIM/Foreign Trade Policy?

    The Directorate General of Foreign Trade (DGFT) under the Ministry of Commerce and Industry, Government of India.

16. What are the main objectives of India's EXIM Policy?

    To accelerate exports, ensure sustained economic growth, enhance technological strength and global competitiveness of Indian industry, generate employment, and provide consumers quality goods at reasonable prices.

17. What is the duration/term of an Indian Foreign Trade (EXIM) Policy?

    Traditionally announced for a five-year period (with annual supplements/reviews); e.g., the policy framework is revised every five years by the DGFT.

18. What is the IEC (Import Export Code) in India's EXIM framework?

    A 10-digit Importer-Exporter Code issued by the DGFT that is mandatory for any person or firm to undertake import or export of goods/services from India.

19. Name some export promotion schemes under India's Foreign Trade Policy.

    EPCG (Export Promotion Capital Goods) scheme, Advance Authorisation scheme, Duty Drawback, SEZ/EOU schemes, and RoDTEP (Remission of Duties and Taxes on Exported Products).

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