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THE SUBJECT MATTER OF INTERNATIONAL ECONOMICS International Economics deals with international trade theory international trade policy balance of payments and foreign exchange markets and open-economy macro economics.
What is a subject matter for economics. The subject matter tells us about what we study in Economics. However for the sake of conveniences economics is concerned with the following. Subject matter of economics Economics has subject mater of its own.
According to Marshall the subject matter is study of social man in respect to material welfare. Macroeconomics is the branch of economics. The subject matter of economics is sub-divided into two core branches Micro Economics and Macro Economics.
The scope of macroeconomics can be stated by giving a list of most important problems with which it is concerned. International trade theory analyzes the basis and gains from trade. Theory of Product Pricing.
On the other hand microeconomics is the study of markets and industries so looks at things. The subject matter of economics is concerned with wants efforts and satisfaction. According to classical economists the subject matter of economics is wealth.
The determination of pricing for individual products is based on supply and demand. The purpose of macroeconomics is to present a logical framework for the analysis of these phenomena. It is concerned with the solution of society economic problems.
It is concerned with how human being earns their living through exchange ie. SUBJECT MATTER OF ECONOMICS. Definitions of economics consider economics is the study of wealth welfare and scarcity of choice.
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