International Economics

International Economics is a branch of economics that examines the economic and financial interdependence among nations, applying macroeconomic principles to a global context. It is broadly divided into two main areas: international trade, which analyzes the flows of goods and services across borders, the gains from trade, and the effects of policies like tariffs and quotas; and international finance, which focuses on the macroeconomic aspects of the global economy, including exchange rate determination, the balance of payments, international capital flows, and the policy challenges arising from global financial integration.

1. Introduction to International Economics
   1. Defining International Economics
      1. Scope and Subject Matter
      2. Relationship to Other Economic Fields
      3. Importance in the Modern World
   2. Key Distinctions from Domestic Economics
      1. Cross-Border Transactions
      2. Currency Differences
      3. Policy Coordination Challenges
      4. Legal and Institutional Differences
      5. Sovereign Risk Considerations
   3. Major Subfields
      1. International Trade Theory
      2. International Trade Policy
      3. International Finance
      4. Open-Economy Macroeconomics
      5. Development Economics
   4. Key Actors in the Global Economy
      1. Nation-States and Governments
         1. Trade Policy Formation
         2. Central Banks and Monetary Policy
         3. Regulatory Frameworks
      2. Multinational Corporations
         1. Foreign Direct Investment Strategies
         2. Global Supply Chain Management
         3. Transfer Pricing
      3. International Organizations
         1. International Monetary Fund
         2. World Bank Group
         3. World Trade Organization
         4. Regional Development Banks
         5. United Nations Conference on Trade and Development
      4. Financial Markets and Institutions
         1. Commercial Banks
         2. Investment Banks
         3. Hedge Funds and Sovereign Wealth Funds
   5. Globalization and Economic Interdependence
      1. Historical Waves of Globalization
         1. First Wave (1870-1914)
         2. Interwar Deglobalization
         3. Second Wave (1945-1980)
         4. Third Wave (1980-Present)
      2. Drivers of Globalization
         1. Technological Advances
         2. Transportation Cost Reductions
         3. Communication Improvements
         4. Policy Liberalization
      3. Measuring Economic Integration
         1. Trade Openness Indicators
         2. Financial Integration Measures
         3. Migration and Labor Mobility
         4. Technology Transfer Metrics
      4. Benefits and Costs of Globalization
         1. Efficiency Gains
         2. Economic Growth Effects
         3. Distributional Consequences
         4. Cultural and Social Impacts
         5. Environmental Implications