International economics is concerned with the effects upon economic activity of international differences in productive resources and consumer preferences and the institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries, including trade, investment and migration.
- International trade International trade is exchange of capital, goods, and services across international borders or territories. It refers to exports of goods and services by a firm to a foreign-based buyer In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see studies goods-and-services flows across international boundaries from supply-and-demand Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, price will function to equalize the quantity demanded by consumers, and the quantity supplied by producers, resulting in an economic equilibrium of price and quantity factors, economic integration Economic integration is a term standing for unification of states by partial or full abolishment of customs tariffs on inner border of the states as a main feature of this phenomenon. This, in turn leads to less prices and drastically increases trade. Trade stimulation effect due to economic integration has been a foundation for second best theory:, and policy variables such as tariff A tariff is a duty imposed on goods when they are moved across a political boundary rates and trade quotas An import quota is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. Quotas, like other trade restrictions, are used to benefit the producers of a good in a domestic economy at the expense of all consumers of the good in that economy.[1][2]
- International finance International finance is the branch of economics that studies the dynamics of exchange rates, foreign investment, and how these affect international trade. It also studies international projects, international investments and capital flows, and trade deficits. It includes the study of futures, options and currency swaps. Together with studies the flow of capital In economics, capital or capital goods or real capital are factors of production used to create goods or services that are not themselves significantly consumed in the production process. Capital goods may be acquired with money or financial capital. In finance and accounting, capital generally refers to financial wealth, especially that used to across international financial markets, and the effects of these movements on exchange rates In finance, the exchange rates between two currencies specifies how much one currency is worth in terms of the other. It is the value of a foreign nation’s currency in terms of the home nation’s currency. For example an exchange rate of 91 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 91 is worth the same as USD 1.[3]
- International monetary economics Monetary economics is a branch of economics that historically prefigured and remains integrally linked to macroeconomics. It provides a framework for analyzing money in its functions as a medium of exchange, store of value, and unit of account. It considers how money, for example fiat currency, can gain acceptance purely because of its convenience and macroeconomics Macroeconomics (from prefix "macr-" meaning "large" + "economics") is a branch of economics that deals with the performance, structure, and behavior of the economy of the entire community, either a nation, a region, or the entire world. Along with microeconomics, macroeconomics is one of the two most general fields in studies money and macro flows across countries.[4][5][6][7]
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