No modern economy is completely self-sufficient. Trade is critical to global growth and wealth creation. This domain features concepts that explain why trade matters, how it happens, and why some countries limit it.
Overview: Why does the United States import so many clothes and shoes? Why do some countries seem to be associated with one product, like oil, so much? The answers to these questions, and more, can be found in this lesson.
Overview: In this lesson we explain why trade is not always equal and why it is not necessarily bad to import more than you export.
Overview: Most economists agree that trade is good and free trade is even better. If that's the case, why - and how - do almost all nations try to limit it? This lesson explains.
Overview: It's no secret that trade is beneficial. Some nations like to put that in writing and make agreements with each other called trade blocs. Learn more here.
Overview: Pesos, dollars, and rupees - oh my! With so many different currencies in the world, buying and selling goods and services across borders can get complicated. This lesson explains how trading currencies works.
Overview: In this lesson you will learn how currencies are really no different than most goods and services when it comes to how they respond to supply and demand.
Overview: Producer decisions are affected by many things other than prices. Learn what those things are in this lesson.
Overview: So you want to borrow some money? I need to know that you are very likely to repay it. But how? This lesson explains what lenders look for before making important loans.
Sine Die, a Latin phrase meaning "without day," is the final day of the legislative session. Host Stephen Fowler explains why this is such an important day to lawmakers and why they often work until the very last minute of the day to pass bills.