What is International Economics? - Intel by JazLive

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What is International Economics? What exactly international economics is and what it covers tend to depend on the views of the person using the definition. Roughly speaking, it covers economic interactions between countries such as international trade. The book International Economics: Global Markets and International Competition gives the following definition: International economics describes and predicts production, trade, and investment across countries. Wages and income rise and fall with international commerce even in large rich developed economies like the US. In many countries, international economics is a matter of life and death. Economics as a field began in England in the 1700s with a debate over issues of free international commerce, and the debate continues. Domestic industries pay politicians for protection against foreign competition.