International Economics

International economics places economic study and research in a global lens. It is a broad field that may refer to several subjects such as international trade or international finance. It deals with the economic interactions between two or more countries, which may include trade deals, tariffs, exchange rates, and so on. On an international level, the trade of goods and services is subject to the relationship between autonomous countries, rather than within them. Because of this, international economics may also incorporate discussions of international relations or politics.


A quota, which is a type of trade barrier, is a restriction on the quantity that can be imported into a country. Quotas and Tariffs are effectively the same except that governments collect revenue from tariffs while exporting firms can collect extra revenue from quotas.