18 Terms
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International economics
International trade theories, policies, finances and their effects on economic activities.
Industry: Economy
Add a new termContributors in International economics
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 ...
economic nationalism
Economy; International economics
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 ...
efficient allocation
Economy; International economics
An allocation that it is impossible unambiguously to improve upon, in the sense of producing more of one good without producing less of another.
