Rising international economic interdependence arises a need of studying International Economics as separate field under economics. International economics studies the economic interactions among the different nations that make up the global economy.

In many countries, international economics is a matter of life and death. "International economics describes and predicts production, trade, and investment across countries. International Economics And Its Importance International economics deals basically with those economic principles which govern the exchange of goods (and services) between sovereign nations (more accurately, between their residents) and with special policy problems which arise in view of this. international economics is the idea that there are gains from trade-that is, that when countries sell goods and services to one another, this is almost always to their mutual benefit. Wages and income rise and fall with international commerce even in large rich developed economies like the US.

The range of circumstances under which international trade is beneficial is much wider than most people appreciate. Often this interaction is viewed in terms of the domestic economy and the foreign sector. Importance of International Trade The buying and selling of goods and services across national borders is known as international trade. international economics & general economics By its name General Economics includes all other forms of Economics including International Economics, however the application is not simple. In addition, it covers the study of various international economic institutions, such as IMF, WTO, World Bank, and UNCTAD. The key economic principle underlying international economics is the law of comparative advantage.

Descriptive international economics also studies issues related to international flow of goods and services and financial and other resources. International trade is the backbone of our modern, commercial world, as producers in various nations try to profit from an expanded market, rather than be limited to selling within their own borders.

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