You could say that the study of international trade and finance is where the discipline of economics as we know it began. Historians of economic thought often describe the essay “Of the balance of trade” by the Scottish philosopher David Hume as the first real exposition of an economic model. Hume published his essay in 1758, almost 20 years before his friend Adam Smith published The Wealth of Nations. And the debates over British trade policy in the early nineteenth century did much to convert economics from a discursive, informal field to the model-oriented subject it has been ever since. Yet the study of international economics has never been as important as it is now. At the beginning of the twenty-first century, nations are more closely linked through trade in goods and services, through flows of money, through investment in each other’s economies than ever before. [download]
Format : Ebook.Pdf
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