International economics/Related Articles
From Citizendium, the Citizens' Compendium
- See also changes related to International economics, or pages that link to International economics or to this page or whose text .
See the related articles subpage to the article on economics  for an index to topics referred to in the economics articles.
- Economics : The analysis of the production, distribution, and consumption of goods and services.
- Macroeconomics : The study of the behaviour of the principal economic aggregates, treating the national economy as an open system.
- Financial system : The interactive system of organisations that serve as intermediaries between lenders and borrowers.
Five other glossaries are available:
- the economics glossary
- the banking glossary
- the finance glossary
- the macroeconomics glossary
- the monetary policy glossary
- Balance of payments : an accounting statement for the transactions of a country with the rest of the world.
- : Lack of sufficient foreign exchange reserves to maintain the desired fixed exchange rate of a country's currency.
- BRIC : Acronym for Brazil, Russia, India and China, as a group of large, low-income, high-growth-rate.
- Comparative advantage : The motive for trade that arises from the fact that for each trader there are things that he does best, and things that he can better obtain by trading.
- : The method of deducing the effects of an action upon an economic system by consideration of the difference between its prior and consequent static states - and without reference to transitional conditions.
- Devaluation : A policy-induced downward adjustment to a country's currency exchange rate. The term is normally applied to action to improve its international competitiveness, taken by a country that operates a nominally fixed exchange rate regime.
- Direct investment : investment in a company's foreign operations.
- Econometrics : The use of mathematical techniques to derive economic relationships from economic statistics.
- Economies of scale : The factors that cause the cost of production of a product to fall as output of the product is increased.
- Eurozone : The member states of the European Union that use the euro as their common currency (Belgium, Germany¸ Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, The Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland)
- Exchange rate : The price of one monetary currency in terms of another (when the term is used without identifying the pair of countries to which it refers, it may be taken to refer to a country's trade-weighted exchange rate).
- Exchange rate protectionism : the policy of reducing the currency exchange rate to below its market value in order to promote the country's exports.
- Gold standard : a currency system in which a country's central bank is required to exchange, on demand, any currency unit for a stipulated quantity of gold.
- Heckscher-Ohlin theorem : The proposition that a country will export those commodities that are intensive in the factor (capital or labour) in which in which it is most well-endowed.
- Institutions : Humanly devised constraints that shape human interactions; including social institutions such as norms and customs, economic institutions such as property and commercial law, and political institutions such as human rights and law enforcement.
- Institutional quality : The extent to which a country's institutions facilitate international transactions, and provide for their security and predictablity.
- International Monetary Fund : International organization that oversees the global financial system by stabilizing international exchange rates and facilitating development, and offering highly leveraged loans mainly to poorer countries.
- : A mathematical relationship between the cost of performing an action and the number of times it has been performed.
- Leontief paradox : The finding that (contrary to the Heckscher-Ohlin theorem the United States, which is the most capital-abundant country in the world, was exporting labour-intensive commodities and importing capital-intensive commodities.
- Marginal product : The additional output of a product produced by the application of one additional unit of input.
- Market power : The ability of a supplier to exercise a degree of choice concerning the pricing of a product by restricting its supply: a measure of departure from the ideal of perfect competition in which every supplier is a price-taker
- Mundell-Fleming theorem : A country cannot simultaneusly (a) maintain a stable exchange rate, (b) manage its own monetary policy,and (c) allow free movements of capital across its borders - but must choose two of the three.
- Protection : In international economics, a restriction upon trade by the imposition of quotas or tariffs.
- : The tendency of consumer price indexes to overstate inflation because they take no account of the fact that technological advances enable consumers to enjoy a higher living standard without increasing their expenditure, which leads to an understatement of inflation-corrected GDP growth (see Price index).
- Quota : In international economics, a quantitative restriction upon the volume of imports of a product.
- Special drawing right : an international reserve asset, that can be exchanged for usable currencies, that is issued to member countries by the International Monetary Fund to supplement their official reserves, and whose value is based on a basket of four international currencies.
- Systemic risk : In financial economics, the risk that failure in one part of a financial system could impair the functioning of that system.
- Tariff : In international economics, the imposition of tax upon imports that is related to the value that is imported.
- Terms of trade : The ratio of the index of a country's export prices to the index of its import prices.
- Trade-weighted exchange rate : The average of a country's bilateral exchange rates with all of its trading partners; weighted by the volume of that country's exports and imports with each partner as a proportion of their total.
- Washington Consensus : An interpretation of the conditions required by the International Monetary Fund for financial assistance to developing countries.
- World Bank : Collective name for the International Bank for Reconstruction and Development and its affiliates: the International Finance Corporation, organized in 1950 to provide long-term project financing to developing countries; and the International Development Association, formed in 1960 to make long-term loans at low interest rates.