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This course provides the students a thorough understanding and deep knowledge about the basic principles that tend to govern the free flow of trade in goods and services at the global level. The contents of the Paper spread over various modules, lay stress both on theory and applied nature of the subject that have registered rapid changes during the last decade. Objectives of the course:1. To introduce rationale of recent changes in the Economic Policy globally.2. To acquaint the students with waves of globalization and liberalization3. To acquaint the students with the domestic and international economic concerns.