International Economics is the application of economic theory to situations in which countries are closely connected, through the exchange of goods and services, or through some other type of economic relationship, such as that between a creditor country and a debtor country. International economics is concerned with the interrelationships and interdependencies between national economies. Paul Samuelson, Nobel prizewinner and one of the foremost economists in the world today, has written that no complete understanding of any modern economy is possible without a thorough grounding in international economics. International economics illuminates the interaction between domestic economic events, and important changes in the world economy. Samuelson himself has made important theoretical contributions to the pure theory of trade. [download]
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