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What is International Economics?

 , updated on January 01, 2018
International economics is the economics of the global economy and commercial exchanges between nations. This includes modeling the impact of global factors on the economy of a nation. International economics can also be used to model the global economy as a single system of value creation and distribution. The following are common elements of international economics.

Competition

The competition between nations to advance, grow and improve quality of life.

Comparative Advantage

The economic strengths of nations defined by their ability to produce a particular good cheaper or higher quality than other nations.

Gains From Trade

The principle that nations typically benefit from trade because it allows each nation to focus on its comparative advantages. If a nation is good at producing peanuts and terrible at producing walnuts, the nation benefits from exporting peanuts and importing walnuts.

Economic Cooperation

Models of economic cooperation. For example, pooling resources for space exploration such that all benefit.

Sustainability

Cooperation designed to preserve common goods such as air, water and ecosystems.

Capital

International finance and the flow of capital over borders such as international investment and currency exchange markets.

Labor

Labor markets such as the differences in wages and productivity rates from one nation to the next.

Development

The process that a nation undergoes to advance its industries, infrastructure, social systems and quality of life.

Financial Stability

The financial stability of the global economy such as the impact of trade wars, financial leverage and monetary policy on growth, inflation and employment.
Overview: International Economics Definition
Type
Definition
The economics of the global economy and commercial exchanges between nations.
Related Concepts

International Economics

This is the complete list of articles we have written about international economics.
Economic Institutions
Economic Relations
Economic Security
Foreign Direct Investment
Gains From Trade
Global Business
Global Issues
Globalization
Grey Market
Hegemony
Imports
Industrialization
International Trade
Specialization
Tax
Value Chain
World Economy
More ...
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International Economics

An overview of the topics covered by international economics.

Globalization

An overview of globalization.

Gains From Trade

The net gain achieved by countries, organizations or individuals from trade.

Common Goods

The definition of common goods with examples.

Currency War

The definition of currency war with examples.

Comparative Advantage

An overview of comparative advantage with examples and comparisons.

Global Culture

An overview of global culture with examples.

Free Market

A complete overview of free markets.

Economic Change

The definition of economic change with examples.

Economic Theories

A list of economic theories that are particularly useful for business.

Adverse Selection

The tendency for people at high risk to buy insurance.

Economic Advantage

A list of economic positions or capabilities that allow you to outperform in a particular industry.

Knowledge Work

A definition of knowledge work with examples.

Production

A definition of production with examples.

Post Scarcity

An overview of post-scarcity.

Economic Infrastructure

The common types of economic infrastructure.

Business Competition

The common types of business competition.

Inefficiency

The common types of inefficiency.

Supply Examples

An overview of supply with common examples.
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