Study international economics
The theory of international economics focuses on trade patterns, the effect of trade on production, and consumption rates (how often are goods bought / replaced?). A final aspect of international economic theory refers to the distribution of income .
All these aspects are covered by the microeconomics of trade between nations. Rather, international macroeconomics relates to how money flows between countries and the impact of that money on individual countries.
It can sometimes be difficult to understand the international economy and the economic problems that this area of the economy addresses. For example, how can two countries be compared if their cost of living is lower, their productivity is higher, and they are richer in natural resources?
What if you do a career related to international economics?
To understand these concepts, you need at least a basic understanding of micro and macroeconomics, in addition to other areas such as politics and international relations .
Understandably, if you haven’t studied these topics before, you may find it difficult at first to understand some fundamental theories of international economics.
If you need help to fully understand complex economic policies, you can turn to a Superprof tutor .
Superprof’s private economics teachers can help you decide which branches of economics you can study further or if it is a good idea to study economics and international relations as a university degree after high school.