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This chapter is excerpted from 'A Guide to International Economics'. The study of international economics has never been more vital than it is today. The global financial crisis, the economic turmoil in many advanced countries, increasing barriers to international trade, and currency crises have created challenges for both policy makers and corporate decision makers involved in international trade and finance. Corporate managers and MBA students must learn the complex interrelationships between trade policies, the actions of central banks, and changes in government spending and taxes, on interest rates, prices, exchange rates, and economic activity.This book aims to present a concise introduction to international economics. Unlike standard textbooks on international economics that focus on developing complex theories and models, this book provides a rigorous and lucid approach to the understanding of international trade and finance. It explains the basis and pattern of trade, the effects of trade and trade policies on companies, national welfare, and the global economy. It explains the determination of exchange rates and changes in exchange rates. Finally, it examines the role and impact of national economic policies on the domestic economy and the rest of the world. This book is suitable for students taking an introductory course in international economics in MBA and other graduate international business programs, and for business practitioners and decision makers with limited knowledge of basic economic principles.