Foreign Languages

International Economics and everything you need to know

In the current era of strong global integration, international economy is an increasingly popular phrase. So what is international economics and what are the career prospects when students choose to study Economics in English right from high school?

1. What is International Economics?

Economics is a subject of social sciences, born with the aim of helping society learn how to manage limited resources in order to meet the unlimited consumption needs of people. Because of the scarcity of people, money, assets and more, we need to learn to run as efficiently as possible.

International economics is the economic relationship between two or more countries, the total economic relationship of the international community. As such, International Economics studies the economic interdependence between nations in the exchange of goods and services and the movement of productive resources, the conversion of money and liquidity between countries to maximize human needs.

See also: IB program

2. Economics in the international – bilingual schools

In the international – bilingual schools, Economics is taught from grade 9 and is very focused on the last 2 years of high school. Although it is an optional subject, most students with orientation in economics, business, commerce… choose this subject because early learning helps them have a more complete view of society and the way society works.

With an important position in the development of society, from developed countries to developing countries, studying Economics offers more career opportunities not only in the country but also in the international environment, making it easier to connect people and reducing cultural and language gaps.

3. What can you learn about International Economics?

3.1. IB Economics

IB Economics program includes the following main sections: microeconomics, macroeconomics, and the global economy. The subject is divided into 2 levels: Standard Level and Higher Level. Students are completely free to choose the level they want to study.

With this syllabus, students will have access to extensive knowledge of markets, supply and demand, economic issues, international relations, government intervention and more. These topics bring a complete view of the economic world to IB students to the fullest.

3.2. AP Economics

With AP Economics program, students will have the choice of studying Microeconomics or Macroeconomics.

    • Microeconomics delves into topics such as corporate economic activity, individual spending behavior, and small-scale market analysis.
    • Macroeconomics studies larger topics such as the common market, domestic and international markets, and foreign trade.

See also: AP program

3.3. A-level Economics

In A-level Economics program, students will learn through the same encompassing knowledge as IB Economics program, starting with the basics for the first year and deepening in the second year. The subject has quite high requirements because students are required to apply knowledge to the test, and there are topics that will need Math.

To do well in A-level Economics, students must develop reasoning, debate and critical thinking, along with the ability to use evidence to answer questions related to the subject. The key point lies in the case studies and students need to understand the knowledge and skills above to be able to present the work convincingly.

3.4. IGCSE Economics

IGCSE program is gradually becoming familiar to most Vietnamese students, in which Economics is one of the subjects that are most interested. The course consists of 8 main units on the following topics:

    • Analyze and effectively use resources
    • How the market works
    • Supply and demand
    • Micro-analysis of the company and employees
    • Economic intervention from the government
    • Economic activity in the market
    • Overview of economic development
    • International economic relationship

In addition to the core economic knowledge, the course also equips students with the ability to plan a business, make a strategy, analyze data… along with related chapters such as market prices, economic overview, GDP, deficit – surplus…

3.5. Economics at undergraduate and college level

Economics at undergraduate and college level is like high school, it will be divided into Microeconomics and Macroeconomics. Both sections look at the micro and macro aspects of economics, supply and demand, the system of money, economic crisis, government policy and related topics.

Students are also equipped with a modern knowledge of applied economics, from which they are able to apply economic theories to analyze and evaluate economic activities, organize and manage production and business activities, as well as building and organizing socio-economic development projects.

3.6. Economics at postgraduate level

Economics at postgraduate level is much more general and advanced in content, with a focus on research capabilities and economic outcomes in the curriculum.

4. Economics terms in English

    • Supply / Demand
    • Exchange rate
    • Financial market
    • Commodity
    • Capitalism
    • Stock (shares)
    • Revenue
    • Market share
    • Inflation
    • Interest

5. Economics textbooks in English

    • Basic Economics: A Common Sense Guide to the Economy (Thomas Sowell)
    • Principles of Economics (Gregory Mankiw)
    • Economics Today: The Micro View (Roger LeRoy Miller)
    • The Economics of Money, Banking and Financial Markets (Frederic S. Miskin)
    • Economics: Principles & Practices (McGraw-Hill)

6. Should you study International Economics or International Business?

If you aspire to be an entrepreneur or productive worker in the business world, International Business is for you. But if you are pursuing majors related to social understanding of economics, International Economics is the subject that should be pursued.

See also: IGCSE program

7. Career opportunities when studying International Economics

After studying International Economics, you can work at some of the following agencies: 

    • Ministry of Industry and Trade, Ministry of Planning and Investment, Departments of Industry and Trade, Department of Planning and Investment, and related industries.
    • Foreign investment management offices, economic and social organizations.
    • University and economic research institutes.
    • Import and export trading companies, transportation and forwarding companies.

Intertu Education is currently enrolling Economics courses (IB Economics, AP Economics, A-level Economics, IGCSE Economics). If you have any questions about International Economics, please contact us directly, via email or hotline for free advice.