International economics are increasingly turning out to be an important sphere of research as global markets become highly assimilated. As matters of fact, governments, businesses and consumers have come realize that their existences depend on what is taking place within the international market. International economics is defined as a sphere of study that explores the outcomes of lending, borrowing, investment and trade on an international scale. Conversely, international trade looks at how macroeconomic models can be used to comprehend international economics. Some of the salient features of international trade include consumer behaviour, firm behaviour, perfectly competitive monopolistic and oligopolistic market structures, and consequences of market distortions. The gross domestic product (GDP) is an important economic variable that measures the economic conditions of an individual/country. The gross national product reflects the output of economic activities within a specified period of time. For instance, the GDP/capita depicts the economic condition of a person in a country. It is important to mention that the GDP per capita differs significantly across countries. Table 1 provides up-to-date data on GDP and GDP per capita for a selected cluster of countries. Inflation and unemployment rates are used to measure the economic well-being of a country. Inflation is an economic variable that compares consumer price indices between two different periods. For instance, a lower inflation rate means that the economy is doing well and vice versa. The latter (unemployment rate) is used to measure the percentage of the unemployed people within a country. Table 2 depicts inflation rates and unemployment rates for some selected countries. It is worth mentioning that some data in table 2 are abnormal as a result of the economic meltdown that occurred in 2008. Some economists employ a government budget to gauge the performance of economic activities. Tax revenues are commonly used to fund public projects such as the construction of highways. Generally, a surplus in the government budget occurs when the amount spent by the government on public projects is less than the total amount of tax revenue. Conversely, a deficit in the government budget occurs when the tax collected is inadequate to finance public expenditure. It deserves merit to note that a Forex market is needed to facilitate transaction among different currencies in international trade. Many countries face the dilemma of whether to fix the exchange rate of their respective currencies or allow the rates to fluctuate according to the market dynamics. It is against this backdrop that the International Monetary Fund (IMF) was established to monitor and help countries solve their international currency dilemma. The IMF has created a list of currency regimes in all countries participating in international trade. The exchange rate systems adopted by some countries are depicted in table 3. The trade balance of a country is another key international statistics that indicate the economic well-being of a country. A country is deemed to have a trade surplus if the value of total goods exported surpasses the value of the total goods imported. On the other hand, a nation is considered to be experiencing trade deficits if the aggregate quantity of goods imported surpass the aggregate quantity of goods exported. This information is critical because it enables economists to describe th