International Economics (INT)

• Quizzes: 10

International economics explores how nations interact through trade, finance, and policy. Its history traces back to the mercantilist era, where wealth accumulation and trade surpluses were emphasized. The classical theories of Adam Smith and David Ricardo introduced the concepts of free trade and comparative advantage, shaping modern economic thought.

During the 20th century, Keynesian and neoclassical approaches influenced global economic policies, leading to institutions like the IMF and WTO that regulate international economic relations. The rise of globalization, regional trade agreements, and financial integration has further expanded the field’s significance.

Practically, international economics affects exchange rates, trade policies, capital flows, and economic development. Nations must navigate complex issues such as trade imbalances, protectionism, and economic crises while ensuring sustainable growth. Today, topics like digital trade, environmental sustainability, and geopolitical tensions continue to shape the global economic landscape.

Understanding international economics helps businesses, policymakers, and individuals make informed decisions in a rapidly evolving world. By analyzing historical trends and theoretical frameworks, we can better anticipate future challenges and opportunities in the global economy