Chapter Seven: Module Intro -- Foreign Exchange and the Balance of Payments

The United States' involvement in the international economy has increased significantly since 1980. The U.S. imports more than $1 trillion in goods and services each year. Despite the importance of international trade, many people do not understand the fundamentals of exchange rates and foreign exchange. As the world becomes smaller due to advances in communication and transportation, an understanding of international economics becomes all the more important.

This module introduces you to the basic terminology of international economics. We recommend that you read the lecture notes, take the on-line quiz, and then review the main points in the module summary.

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