This subject introduces students to the nature of international business operations in the world economy. The first part focuses on the basic concepts and theories of international trade, investment, and foreign exchange which form the foundation of a firm's international business activities. The second part is devoted to the economic, cultural, political and ethical environments and their effects on a firm's international business operations. The third and last part provides an overview of how the functional areas of business i.e. Marketing, production, human resource and finance are conducted in and affected by the multifaceted environment of an internationally oriented firm.