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International Economics - Honors

International Economics - Honors. ECN 3891 Dr. Ali R. Moshtagh 2605 Coleman Hall (217) 581-6967 amoshtagh@eiu.edu Office Hours: 11:00 - 11:50 MWF 10:00 - 10:50 TR. International Economics.

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International Economics - Honors

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  1. International Economics - Honors • ECN 3891 • Dr. Ali R. Moshtagh • 2605 Coleman Hall • (217) 581-6967 • amoshtagh@eiu.edu • Office Hours: • 11:00 - 11:50 MWF • 10:00 - 10:50 TR

  2. International Economics International Economics concerns the flow of commodities, services, and productive factors (capital and labor) across national boundaries.

  3. International Transactions • Trade in commodities refers to imports and exports of merchandise; • Trade in services involves such activities as shipping, insurance, travel, or tourist services performed by companies of one country for the residents of another;

  4. International Transactions • Capital flows represent: • the establishment of manufacturing plants in foreign countries; or • the acquisition of foreign bonds, stocks, and bank accounts. • Labor flows describe the international migration of workers.

  5. Why Nations Trade • International trade provides us with a variety of goods and services from other countries; • International trade promotes specialization and efficiency in production; and • International trade provides a source of income and employment for the countries involved

  6. Domestic Vs. International Economic Relations National boundaries have profound implications for the conduct of trade: • Exchange Rates; • Commercial Policy; • Different Domestic Policies; • Relative Immobility of Productive Factors; • Statistical Data; and • Marketing Considerations

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