International finance International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries.   The field of international finance concerns itself…

Free trade Free trade is the economic policy of not discriminating against imports from and exports to foreign jurisdictions. Government follows a policy of non-interference. Buyers and sellers from separate economies may voluntarily trade without the domestic government applying tariffs,…

Global governance or world governance Global governance or world governance  is a movement towards political cooperation among transnational actors, aimed at negotiating responses to problems that affect more than one state or region. Institutions of global governance—the United Nations, the…

Competing theories of hegemonic stability Hegemony is an important aspect of international relations. Various schools of thought and theories have emerged in an attempt to better understand hegemonic actors and their influence. The Systemic School of thought According to Thomas…

Hegemonic Stability Theory   Introduction In the second half of the 20. century the term of “Hegemonic Stability Theory “ was introduced by political scientists such as Stephen Krasner, Robert Gilpin and Robert Keohane to explain the mechanisms of the…

1. Producer – It helps the businessman understand the pattern of demand in the market and to anticipate the quantity and the quality of goods that he can sell at different prices. 2. Monopolist – In case of monopolies, price…

1] A change in number of consumers – a) If Px rises then some existing consumers buy less and some who cannot afford to buy will leave the market therefore demand for X will fall. b) If Px falls then…

The law of demand has been put forward by   Dr Alfred Marshall in his book “ Principles of economics ” published in 1890. According to by   Dr Alfred Marshall demand ie “  the desire backed by willingness and ability to…