Ever since 19th-century economists put forth their theories of international economics, the subject has consisted of two distinct but connected parts: (1) the “pure theory of international trade,” which seeks to account for the gains obtained from trade and to explain how these gains are distributed among countries,
International economics deals with issues arising from economic interaction among sovereign nations; fields such as international trade, international financial flows, international aid and technical assistance for developing countries, international migration, and exchange rate regimes present international economic
The International Economic Relations field focuses on the consequences of the economic interaction among countries and the policies that affect these interactions and their economic outcomes.
Interactions include trade in goods, services, assets, and technologies.