Opportunities in international business careers by Jeffrey S. Arpan

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By Jeffrey S. Arpan

Presents an outline of the sector, discusses academic standards, and comprises info on salaries, obligations, and employment outlook.

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Or there is some money available for investing or borrowing but not enough to fulfill the domestic demand. In these situations, international business (in this case, importing goods or money) occurs because of an unfulfilled need. In other cases, people may have unfulfilled wants or preferences for products or services that do not exist in their country. Or they do not exist in the quantity, quality, or variety desired. For example, while people really do not need VCRs, they may want them anyway.

At age 24, he was the youngest person to receive a doctoral degree in international business from Indiana University, and his doctoral dissertation was selected by the Academy of International Business as the best international business dissertation completed in 1971. Other honors he has received include being selected in 1976 as one of the "Outstanding Young Men in America," receiving an award from the American Library Association for being the author of one of the best new reference books published in 1979, and being admitted to Phi Beta Kappa and several other academic honoraries.

Any time one currency is exchanged for another currency, there must be an exchange rate that tells how much one currency is worth in terms of the other currency. These rates are called foreign exchange rates. As long as exchange rates do not change, there is no uncertainty about the value of money in one currency in relation to another currency. But if foreign exchange rates change, the value of the foreign currency changes in terms of the domestic currency. In general terms, if a country's currency decreases in relationship to other countries' currencies, the country's exports become cheaper abroad, but importing foreign products costs more.

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