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Trade-lecture-01-Why-International Economics

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9 views8 pages

Trade-lecture-01-Why-International Economics

Uploaded by

tauhidarahman02
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Why Studying

International Economics?
Dr. Selim Raihan
Professor
Department of Economics
University of Dhaka
Introduction
• The study of international economics has never been as
important as it is now.

• At the beginning of the 21st century, nations are more closely


linked through trade in goods and services, through flows of
money, and through investment in each others’ economies
than ever before.
What is International Economics About?

• International economics deals with economic interactions


that occur between independent nations.
• The role of governments in regulating international trade
and investment is substantial.
• There are several issues that recur throughout the study of
international economics.
What is International Economics About?

• The Gains from Trade


• Many people are skeptical about importing goods that a country
could produce for itself.
• When countries sell goods to one another, all countries benefit.
• Trade and income distribution
What is International Economics About?
• The Pattern of Trade (who sells what to whom?)
• What determines the trade pattern (endowment of
resources, climate, geographical location).
• There are two types of trade:
• Interindustry trade depends on differences across countries.
• Intraindustry trade depends on market size and occurs among
similar countries.
What is International Economics About?

• How Much Trade?


• Many governments are trying to shield certain industries
from international competition.
• This has created the debate dealing with the costs and
benefits of protection relative to free trade.
What is International Economics About?

• The Balance of Payments


• Some countries run large trade surpluses.
• Is it good to run a trade surplus and bad to run a trade deficit?
• Exchange Rate Determination
• The role of changing exchange rates is at the center of
international economics.
What is International Economics About?

• International Policy Coordination


A fundamental problem in international economics is how
to produce an acceptable degree of harmony among the
international trade and monetary policies of different
countries.

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