IECO

The International Economics (IECO) major is grounded in the belief that economic analysis is essential to the understanding of modern world affairs. With decreasing costs of transporting goods and information, market forces, which guide the international flow of goods, assets, people, technology, and information, are becoming a dominant factor in the process of globalization as well as in international conflicts. For example, when markets link countries, domestic policies such as subsidies and environmental regulation in one country affect the welfare of other countries. The integrating force of the market is redefining boundaries beyond those of the traditional nation state.

Description of the Major

Economics is a social science that studies the behavior of social systems – such as markets, corporations, unions, international institutions, legislatures, and even families – through the lens of a unified analytical framework. That framework is built on the premise that individuals have goals and pursue those goals, subject to the constraints of resources, technology, and institutional setting. Thus, the focus is on the way individuals make decisions and how those decisions add up, and interact with one another, to produce the social systems we observe. Ultimately, economics offers insights into the study and design of policies to improve the performance of the system.

The applications of this approach to international issues are myriad, covering topics such as trade policy, international economic organizations, economic growth and development, international financial markets, financial crises, international migration, economic integration, international policy coordination, international political economy, transition of former communist countries, global environment and production standards, multinational corporations, international business and banking, and regional economies.

Because students receive rigorous training in quantitative techniques and objective analysis, a major in International Economics is excellent preparation for careers and leadership positions in the private or the public sector. Our students have been highly successful in areas such as finance, consulting, law, management, media, international development, international organizations, research institutes, government, non-profit organizations, and academia.