International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

third industrial revolution

Economy; International economics

The third industrial revolution is a term used to describe the large scale economic transformations brought on by the digital and new energy advancements. The theory was originally developed by ...

A preference for supporting a country's own firms, industries, and workers -- and, in the case of firms and other assets, keeping them owned within the country -- even at the expense of the economic ...

economic union

Economy; International economics

A common market with the added feature that additional policies -- monetary, fiscal, welfare -- are also harmonized across the member countries.

edgeworth production box

Economy; International economics

A variation of the consumption Edgeworth Box that instead represents the allocations of 2 factors to 2 industries for use in production functions. Efficient allocations now appear as tangencies ...

Edgeworth-Bowley Box

Economy; International economics

A geometric device showing allocations of 2 goods to 2 consumers in a rectangle with dimensions equal to the quantities of the goods. Preferences enter as indifference curves relative to opposite ...

effective rate of protection

Economy; International economics

A measure of the protection provided to an industry by the entire structure of tariffs, taking into account the effects of tariffs on inputs as well as on outputs. Letting ''b ij '' be the share of ...