International economics is concerned with international economic activities and their consequences. It studies the economic interactions and transactions between various countries, which also include factors like trade, migration and investments. It also analyzes the issues related to politics and economics to international trade and finance. If you are a student who is acquiring a professional degree in economics, then you can hire international economics assignment writing help on any concept of this course from the experts of BookMyEssay. However, in this post, we would discuss the concept of international economics that every student should know.
In this age of globalization, international trade and finance are increasing day by day. The international trade is concerned with the exchange of goods and services across international borders. Similarly, international finance is the flow of financial transaction on the international level. The globalization is a kind of integration of the economy of different countries.
The Concept of International Economics is Classified into Two Major Parts:
Theoretical International economics: It deals with the explanation of the economic transactions that are taking place on the international level. This is further classified into two groups:
- The pure theory of international economics
- The monetary theory of international economics
Descriptive international economics: This concept deals with the environment in which the international transactions take place between two major countries. It also studies the issues that are related to the flow of finance, goods, services and other resources. The popular institutions that handle international economics are IMF, WTO, World Bank, and UNCTAD.
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