International Economics

Economics, in general, relates to the inter-actions between economic clients that occur within the process of exchange. However, international economics brings in an extra element, that of internationality, and differs from simple microeconomics for the fact that it explains the occurring relations between participants at an international level. In this sense, international economics is important because it provides rules, theories and a specified framework in which international economical relations can work. More so, international economics refers to the whole of the participants (countries, companies, organizations) in the international economical circuit and is thus meant to identify these players.

With the creation of customs unions, such as the EEC, as a general characteristic, trade within the members of the union is encouraged and, at the same time, trade outside the union is discouraged. The main positive effect refers to the creation of trade, that is, to the fact that...
[ View Full Essay]