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Ch 45: NYSTCE Social Studies: International Economics

About This Chapter

Learn about international economics in this chapter of the NYSTCE Social Studies exam study guide. Use our short video lessons and self-assessment quizzes to prepare for exam questions on this topic.

NYSTCE Social Studies: International Economics - Chapter Summary

Lessons in this chapter explore international economics, including the economics and politics of international trade, and comparative advantage, specialization, and exchange. Gains from trade and the benefit of specialization, exchange rate, and balance of payments with financial accounts are also discussed. By the end of this chapter, you should be familiar with:

  • The economics and politics of international trade
  • Comparative advantage, specialization and exchange
  • Gains from trade and the benefit of specialization
  • Exchange rate determination and conversion across countries
  • Balance of payments with financial accounts

Short, engaging video lessons make the material fun and interesting, and knowledgeable instructors are available to answer any questions you may have. Self-assessment quizzes ensure your full understanding and retention of the material. Visit your dashboard to track your progress through the course.

5 Lessons in Chapter 45: NYSTCE Social Studies: International Economics
Test your knowledge with a 30-question chapter practice test
The Economics & Politics of International Trade

1. The Economics & Politics of International Trade

We will discuss the economics & politics of international trade through the definition of open trade and its benefits and drawbacks. In addition, the ideas of competitive advantage and political patience will be shown as key indicators of global success.

Comparative Advantage, Specialization & Exchange

2. Comparative Advantage, Specialization & Exchange

Companies and individuals are often faced with the question of, 'What should we do?' This lesson examines comparative advantage, a valuable economic concept that helps firms and people determine how to focus their efforts.

Gains From Trade and the Benefit of Specialization

3. Gains From Trade and the Benefit of Specialization

Explore one of the most widely accepted ideas in economics - the idea that nations benefit from specialization and exchange, reaping gains from trade.

Exchange Rate: Determination and Conversion Across Countries

4. Exchange Rate: Determination and Conversion Across Countries

Understand what exchange rates are and the different types that can be used by governments and countries. See how they operate and how the conversion process works across countries.

Balance of Payments with Financial Accounts: Measuring Foreign Trade

5. Balance of Payments with Financial Accounts: Measuring Foreign Trade

Learn about the balance of payments and the two key components that make it up. Discover what the financial/capital account is and how it relates to foreign trade and surpluses and deficits.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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Other Chapters

Other chapters within the NYSTCE Social Studies (115): Practice & Study Guide course

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