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The foreign exchange market (forex, FX (pronounced "fix"), or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices.
Currency markets are used to trade one currency for another, and are often used for speculation on currency exchange rates; The money market is the name for the global market for lending and borrowing; Futures markets, where contracts are exchanged regarding the future delivery of goods; Insurance markets; Debt markets
The Department of Sociology at the University of Chicago was established in 1892 by Albion Small, who also published the first sociology textbook: An introduction to the study of society. [47] George Herbert Mead and Charles Cooley, who had met at the University of Michigan in 1891 (along with John Dewey), moved to Chicago in 1894. [48]
Economic sociology is the study of the social cause and effect of various economic phenomena. The field can be broadly divided into a classical period and a ...
The adoption of a fixed rate requires intervention in the foreign exchange market by the country's central bank, and is usually accompanied by a degree of control over its citizens’ access to international markets. [citation needed]
The earlier term for the discipline was "political economy", but since the late 19th century, it has commonly been called "economics". [22] The term is ultimately derived from Ancient Greek οἰκονομία (oikonomia) which is a term for the "way (nomos) to run a household (oikos)", or in other words the know-how of an οἰκονομικός (oikonomikos), or "household or homestead manager".
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits.
An exchange rate regime is a way a monetary authority of a country or currency union manages the currency about other currencies and the foreign exchange market.It is closely related to monetary policy and the two are generally dependent on many of the same factors, such as economic scale and openness, inflation rate, the elasticity of the labor market, financial market development, and ...