Question 22 of 29
Q.Describe the subject matter of International Economics.
Tamil Nadu DgeTamil Nadu HSC (DGE) Commerce Board 2023Subjective· 3mImportance★★★★★
76% · 22/29 Questions
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Start your 14-day free trial to unlock the full solution →International Economics deals with trade between nations — its subject matter includes trade theory, trade policy, balance of payments, foreign exchange and international institutions.
International Economics examines economic transactions between countries. Its main subject matter includes:
- Pure theory of international trade: why countries trade, the basis and gains from trade (theories of absolute and comparative cost advantage).
- Theory of trade / commercial policy: the effects of tariffs, quotas and other trade barriers, and the case for free trade versus protection.
- Balance of payments: recording, causes of disequilibrium and measures to correct a deficit or surplus.
- Foreign exchange: determination of exchange rates, exchange-rate systems and convertibility. …
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