| John Spacey, December 30, 2017 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.
The competition between nations to advance, grow and improve quality of life. The economic strengths of nations defined by their ability to produce a particular good cheaper or higher quality than other nations.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 CooperationModels of economic cooperation. For example, pooling resources for space exploration such that all benefit.Cooperation designed to preserve common goods such as air, water and ecosystems.International finance and the flow of capital over borders such as international investment and currency exchange markets.
LaborLabor markets such as the differences in wages and productivity rates from one nation to the next.
DevelopmentThe process that a nation undergoes to advance its industries, infrastructure, social systems and quality of life.
Financial StabilityThe financial stability of the global economy such as the impact of trade wars, financial leverage and monetary policy on growth, inflation and employment.
This is the complete list of articles we have written about international economics.
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An overview of the topics covered by international economics.
An overview of globalization.
The net gain achieved by countries, organizations or individuals from trade.
The definition of common goods with examples.
The definition of currency war with examples.
An overview of comparative advantage with examples and comparisons.
An overview of global culture with examples.
A complete overview of free markets.
The definition of economic change with examples.
A list of economic theories that are particularly useful for business.
The tendency for people at high risk to buy insurance.
A list of economic positions or capabilities that allow you to outperform in a particular industry.
A definition of knowledge work with examples.
A definition of production with examples.
An overview of post-scarcity.
The common types of economic infrastructure.
The common types of business competition.
The common types of inefficiency.
An overview of supply with common examples.
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