55 Terms
Home > Industry/Domain > Economy > International economics
International economics
International trade theories, policies, finances and their effects on economic activities.
Industry: Economy
Add a new termContributors in International economics
International economics
Labour scarce
Economy; International economics
A country is labour scarce if its endowment of labour is small compared to other countries. Relative labour scarcity can be defined by either the quantity definition or the price definition.
Labor-saving
Economy; International economics
A technological change or technological difference that is biassed in favour of using less labor, compared to some definition of neutrality.
Labor-using
Economy; International economics
A technological change or technological difference that is biassed in favour of using more labor, compared to some definition of neutrality.
Lagging indicator
Economy; International economics
A measurable economic variable that varies over the business cycle, reaching peaks and troughs somewhat later than other macroeconomic variables such as GDP and unemployment. Contrasts with leading ...
Lagrangian
Economy; International economics
A function constructed in solving economic models that include maximisation of a function (the "objective function") subject to constraints. It equals the objective function minus, for each ...
Large country
Economy; International economics
A country that is large enough for its international transactions to affect economic variables abroad, usually for its trade to matter for world prices. Contrasts with a small open economy.
Internal rate of return
Economy; International economics
A way of quantifying the stream over time of returns on an investment relative to its cost. Defined as the interest rate at which the present value of the returns equals the cost.
