The main research objects are international trade theory and policy, balance of payments theory, exchange rate theory, international factor flow, international investment theory, open macroeconomic equilibrium and so on. International economics was gradually developed on the basis of traditional international trade and international finance in the early 1920s. After World War II, it has been paid more and more attention in capitalist countries.
The theory of international economics has a long history, and the study of international economy can be traced back to the international trade theory represented by Adam Smith and Ricardo. The idea of comparative advantage is the starting point of modern international economic analysis, and the "marginal revolution" after classical economic theory provides an important method for the formation of international economics to some extent.
Modern international economics is a systematic and independent theory based on the traditional theories of international trade and international finance. It appeared in the 1940s, shortly after the rise of the neo-classical school represented by Keynes. For decades, the study of international economics has attracted the attention of many western economists and has been continuously developed, and new methods and theories have emerged one after another.
Extended data:
The general theories of international economics include international trade theory and policy (trade basis, trade conditions and distribution of trade benefits), international financial theory and national monetary policy (exchange rate theory and system, balance of payments adjustment theory and policy, international monetary system), international factor flow (international flow of capital and labor force and multinational company theory) and so on.
In recent decades, under the impetus of economists such as Krugman and Friedman, all aspects of the general theory of international economics have achieved sustained and fruitful development.
References:
Baidu Encyclopedia-International Economics