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    Unit I Introduction

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    deepakarora201188
    International economics describes production, trade, and investment between countries. It studies the economic interactions and transactions between nations as well as related policies and institutions. The scope of international economics includes trade, globalization, comparative economic policy, international organizations, monetary dynamics in open economies, migration, and international investment. The study of international economics has three aspects: trade theory, trade policy, and international finance/open economy macroeconomics.

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    Unit I Introduction

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    deepakarora201188
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    International economics describes production, trade, and investment between countries. It studies the economic interactions and transactions between nations as well as related policies and institutions. The scope of international economics includes trade, globalization, comparative economic policy, international organizations, monetary dynamics in open economies, migration, and international investment. The study of international economics has three aspects: trade theory, trade policy, and international finance/open economy macroeconomics.

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    International economics describes production, trade, and investment between countries. It studies the economic interactions and transactions between nations as well as related policies and institutions. The scope of international economics includes trade, globalization, comparative economic policy, international organizations, monetary dynamics in open economies, migration, and international investment. The study of international economics has three aspects: trade theory, trade policy, and international finance/open economy macroeconomics.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    33 views13 pages

    Unit I Introduction

    Uploaded by

    deepakarora201188
    International economics describes production, trade, and investment between countries. It studies the economic interactions and transactions between nations as well as related policies and institutions. The scope of international economics includes trade, globalization, comparative economic policy, international organizations, monetary dynamics in open economies, migration, and international investment. The study of international economics has three aspects: trade theory, trade policy, and international finance/open economy macroeconomics.

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    of 13

    Unit I - An introduction to

    International Economics
    (IE)

    Day and Date: Thursday, July 24,’08


    Unit Highlights…

    • Meaning
    • Significance
    • Scope
    • Composition of IE –
    Trade theory
    Trade policy and
    International finance/Open economy
    macroeconomics
    Text book reference chapters…

     International Economics by Dominick


    Salvatore – Chapter 1

     International Economics by Francis


    Cherunilam – Chapter 1
    What is IE?

    International economics describes and


    predicts PRODUCTION, TRADE, and
    INVESTMENT across countries.
    What is IE?

    The study of ECONOMIC INTERACTIONS


    among countries -- including trade,
    investment, financial transactions, and
    movement of people -- and the POLICIES
    and INSTITUTIONS that influence them.
    Why study IE?

     Trends towards ever-increasing openness-


    Liberalization and Globalization
     Rapid integration of international economic
    markets – new opportunities, new challenges
     Revolution in ICT
    Scope of IE
    • Trade
    • Globalization and regional integration
    • Comparative economic policy
    • International political economy –international
    organizations and policy cooperation
    • Monetary and real/technological dynamics in
    open economies
    • Migration
    • International investment
    • Internet commerce and regulation
    Composition of the study of IE

    Three aspects of IE –
    1. Trade theory
    2. Trade policy and
    3. International finance/Open economy
    macroeconomics
    1. Trade theory

    International trade theory helps us assimilate,

    • Why nations trade?


    • What are gains from trade?
    • What is the pattern of trade?
    2. Trade policy

    Restrictions and regulations that nations


    impose on the free movement of
    commodities, capital, investment, and
    people across borders.
    3.International finance/Open economy
    macroeconomics

    Cross-border capital flows


    To conclude…

    Hallmarks of today’s world economy,


     Liberalization
     Integration
     Innovation
    You should now know…
     What is IE?
     Why study IE?
     What is the scope of IE?
     What is the composition of IE as an
    academic discipline?

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