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With decreasing costs of transporting goods and information, market forces, which guide the international flow of goods, assets, people, technology, and information, are becoming a dominant factor in the process of globalization as well as in international conflicts.
For example, when markets link countries, domestic policies such as subsidies and environmental regulation in one country affect the welfare of other countries. The integrating force of the market is redefining boundaries beyond those of the traditional nation state.
Economics is a social science that studies the behavior of social systems — such as markets, corporations, unions, international institutions, legislatures, and even families — through the lens of a unified analytical framework.
That framework is built on the premise that individuals have goals and pursue those goals, subject to the constraints of resources, technology, and institutional setting.
Thus, the focus is on the way individuals make decisions and how those decisions add up, and interact with one another, to produce the social systems we observe. Ultimately, economics offers insights into the study and design of policies to improve the performance of the system.
The applications of this approach to international issues are myriad, covering topics such as trade policy, international economic organizations, economic growth and development, international financial markets, financial crises, international migration, economic integration, international policy coordination, international political economy, transition to market economies, global environment and production standards, multinational corporations, international business and banking, and regional economies.
Because students receive rigorous training in quantitative techniques and objective analysis, a major in International Economics is excellent preparation for careers and leadership positions in the private or the public sector. Our students have been highly successful in areas such as finance, consulting, law, management, media, international development, international organizations, research institutes, government, non-profit organizations, and academia.
Goals of the Major The International Economics major is designed to develop in students the ability to conduct innovative, well-informed, rigorous, quantitative analysis of all aspects of the world economy.
Whether it is used in the service of business strategy, public policy, scientific research, or any other endeavor, this ability is essential to understanding the economic forces at work in the world and making sound decisions in the face of them.
All students are expected to master the theoretical and empirical tools necessary to conduct such analysis. The major provides students with in-depth knowledge and opportunities for application in three main arenas in international economics: International Economic Theory and Policy. This concentration delves deeper into the traditional areas economics and applications to economic policy, which, in addition to international economics, includes game theory, industrial organization, labor economics, public economics, development economics and macroeconomics.
International Commerce and Finance. The focus of this concentration is on practical applications of international economics in business and finance.
The emphasis is on developing skills and institutional knowledge relevant to international commerce, investment and financial markets. Economic Growth, Transition and Development.
The focus of this concentration is on international economics as it pertains developing countries. It places greater emphasis on understanding the challenges faced by different regions and on strategies for economic development.
Students deepen their knowledge in these areas through in-depth subfield courses. They expand their knowledge by taking supporting courses in a wide range of specialized topics within each area.
Objectives in the Major Economics is a social science that studies the behavior of social systems — such as markets, corporations, unions, international institutions, legislatures, and even families — through the lens of a unified analytical framework.
The focus is on the way individuals make decisions and how those decisions add up, and interact with one another, to produce the social systems we observe.
To understand and apply this approach, the student must learn the following: The basic elements of microeconomic theory including consumer choice, the impact on resource allocation of different market structures, game theory, general equilibrium analysis, and asymmetric information.
The measurement of output and prices, along with theories of economic growth, business cycles, and fiscal and monetary policy. The fundamentals of international trade and finance.
Elementary statistics, probability theory, statistical inference, electronic data acquisition and computer applications. The theory and applications of regression analysis, with emphasis on the main techniques for estimating economic relationships and testing economic hypotheses.
The application of economic theory and empirical analysis to a range of topics including labor, industrial organization, development, and the public sector. The elements of original research and writing, from posing a question, to summarizing the literature, modeling, gathering data, establishing causality and drawing conclusions.
Writing in the Major The field of Economics explores complex economic systems through a combination of deductive and inductive reasoning.Economics Q & A - 1) The current recession is the longest since the Great Depression in the 's.
We are still far from a recovery with unemployment at about % . Bellevue University's Master's in Strategic Finance prepares professionals to be strategic leaders in corporate finance, mergers and acquisitions, enterprise, insurance, and banking.
Published: Mon, 5 Dec The importance of economic growth has been a prominent and interesting topic for economists.
Economic growth is a result of greater quantity and better quality of capital, human and natural resources and technological advance that promote productivity. The international monetary system has been reformed several times during the last two centuries.
Today, it is composed of national currencies, artificial currencies and one common currency, the Euro. Research dealing with the theory of monetary integration is reviewed.
After briefly describing the genesis of the theory as foreshadowed in work on optimum currency areas, the paper assesses two main areas of recent research — the analysis of the effects of disturbances on participating countries in a currency area, and reputational .
International Economics. Rodney Ludema, Field Chair; Polly Robey, Curricular Dean; The International Economics (IECO) major is grounded in the belief that economic analysis is essential to the understanding of modern world affairs.