The Definition of Trade Economics

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Trade economics studies patterns of commerce and their effects.
Trade economics studies patterns of commerce and their effects. (Image: finanzen,euro image by Alta.C from Fotolia.com)

Trade economics is a study of the structure of international financial interactions. In addition to investigating trade, the field of study also concerns the effect of these interactions upon consumption and labor within trading partners.

The Structure of Trade

Trade economics primarily studies how economic partners interact with each other while exchanging commodities. Included in this analysis is the role played by the quantity of commodities belonging to each partner and the effects of protectionist measures such as tariffs.

The Effects of Trade

Trade economics also studies the effect of international trade upon the markets within individual countries; this includes the increasing globalization of products and services. Specific objects of study include unemployment and manufacturing rates, as well as the availability of labor.

Goals

While some economists approach international trade from a purely theoretical point of view, many see the discipline as a way of alleviating the problems that have resulted from the international economy. The latter seek to create economic statutes that would optimize the use of labor and profit within a multinational system of trade.

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