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International Economics Papers
International economics is a branch of economics that deals with the study of how different countries interact with each other economically. This study incorporates various subjects such as;
- International trade
- International finance
Economic activities within a nation differ from activities with other nations. Government restriction on trade, production, distribution and consumption and their impact are also covered in international economics study. There are two main branches of international economics study:
Theoretical international economics which explains international economics at institutional levels, this branch has two divisions namely:
- International economics part theory, which addresses the microeconomics part of international economics.
International economics monetary theory this part addresses the macroeconomics part of international economics.
- Descriptive international economics; this second branch is concerned with the study of institutional environments between countries under which international economics takes place.
Importance of International Economics
With the rise of trade interactions between countries, international economics has drastically gained popularity and become an important concept for many nations to understand. Students taking up a major in international economics stand at a chance of landing themselves lucrative jobs at government trade organizations and institutions dealing with the import and export business. It is an unexploited career and academic area thus students taking up this course stand to reap a lot from the job market.
Challenges of Studying International Economics
However, there are several challenges faced by students taking up international economics. One of these challenges is the various economics subsections involved in this course. On its own, economics is a complex subject. That calls for a lot of focus and commitment from students. The other subjects, microeconomics, macroeconomics, international trade and international finance equally demand commitment from students. These subjects entail alit of research work, some calculations meaning students usually have a lot of homework load besides the lecture hours they spend in study.
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