Science, Tech, Math › Social Sciences What Is International Economics? Share Flipboard Email Print Tony Savino/Corbis Historical/Getty Images Social Sciences Economics U.S. Economy Employment Supply & Demand Psychology Sociology Archaeology Environment Ergonomics Maritime By Mike Moffatt Professor of Business, Economics, and Public Policy Ph.D., Business Administration, Richard Ivey School of Business M.A., Economics, University of Rochester B.A., Economics and Political Science, University of Western Ontario Mike Moffatt, Ph.D., is an economist and professor. He teaches at the Richard Ivey School of Business and serves as a research fellow at the Lawrence National Centre for Policy and Management. our editorial process Mike Moffatt Updated August 13, 2018 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. More precisely, international economics is the field of study that deals with trade between countries. Topics in the Field of International Economics The following topics are a sample of those considered in the field of international economics: Exchange rates and flows of money between countries Free trade and trade disputes, such as the softwood lumber dispute Immigration and migration between countriesThe role regulations and shipping costs play on trade flowsHow differences in tax regimes influence a company's decisions on which countries to operate in International Economics - One Perspective 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." Institute for International Economics' Definition The Institute for International Economics examines a number of hot topics in international economics, such as outsourcing, US steel policy, the Chinese exchange rate, and trade and labor standards. International economists study questions such as "How do sanctions on Iraq impact the lives of the common citizen in the country?", "Do floating exchange rates cause financial instability?", and "Does globalization lead to an erosion of labor standards?". Needless to say, international economists deal with some of the more controversial topics in economics.