Institutions that govern international relations

1. What are institutions?

Answers:
 Institutions are structures and mechanisms of social order and cooperation governing
the behavior of a set of individuals. Institutions are identified with a social purpose and
permanence, transcending individual human lives and intentions, and with the making
and enforcing of rules governing cooperative human behavior.
 I think institutions operate within guidelines and from those guidelines people act in a
certain manner. It’s like customer service. People expect a certain level of treatment
and rights to be respected especially when money is involved and to attract the
consumers, they need to hit targets and they have ways of doing that.
 They work as the backbone of a society. Without the social institutions a society cannot
achieve fulfilment in terms of economy, academy or relationships. When there are no
rules and regulations in a society, people are more likely to indulge in crime and other
harmful activities (Family, Education, Religion, Economics, Government).
 Political institutions are the organizations in a government that create, enforce, and
apply laws. In addition, political institutions include political party organizations, trade
unions, and the (legal) courts.
 (Economic Institutions) Specific agencies or foundations, both government and private,
devoted to collecting or studying economic data, or commissioned with the job of
supplying a good or service that is important to the economy of a country (e.g World
Bank).
2. What is international relations?
Answers:
 International relations is an academic discipline that focuses on the study of the
interaction of the actors in international politics, including states and non-state actors,
such as the United Nations (UN), the International Monetary Fund (IMF), the World
Bank, and Amnesty International. One of the key features of the international system is
that it's a state of anarchy - each state in the system is sovereign and does not have to
answer to a higher authority.
 International relations involves the study of such things as foreign policy, international
conflict and negotiation, war, nuclear proliferation, terrorism, international trade and
economics, and international development, among other subjects. As you may expect,
international relations' broad scope requires an interdisciplinary approach, drawing
upon the fields of economics, law, political science, sociology, game theory, and even
psychology.
 International relations (often referred to international affairs) has a broad purpose in
contemporary society, as it seeks to understand:
 The origins of war and the maintenance of peace.
 The nature and exercise of power within the global system.
 The changing character of state and non-state actors who participate in
international decision-making.
  For example, some institutions may study the psychological and social-psychological
reasoning behind the actions of foreign policymakers, while others may focus their
international studies on the institutional processes that contribute to the goals and
behaviors of states. Ultimately, the area of international relations studied depends on
the goals or objectives of the organization.
 The Value of International Relations in a Globalized Society
 Although international relations has taken on a new significance because of our
increasingly interconnected world, it is certainly not a new concept. Historically, the
establishment of treaties between nations served as the earliest form of
international relations.
 The study and practice of international relations in today’s world is valuable for
many reasons:
International relations promotes successful trade policies between nations.
International relations encourages travel related to business, tourism, and
immigration, providing people with opportunities to enhance their lives.
International relations allows nations to cooperate with one another, pool
resources, and share information as a way to face global issues that go
beyond any particular country or region. Contemporary global issues include
pandemics, terrorism, and the environment.
International relations advances human culture through cultural exchanges,
diplomacy and policy development.

3. Institutions that govern international relations

Answers:
 World Trade Organization
 WTO was formed in 1995 to replace the General Agreement on Tariffs and
Trade (GATT), which was started in 1948. GATT was replaced by WTO because
GATT was biased in favor of developed countries. WTO was formed as a global
international organization dealing with the rules of international trade among
countries.
 The main objectives of WTO are as follows:
Raising the standard of living of people, promoting full employment,
expanding production and trade, and utilizing the world’s resources
optimally.
Ensuring that developing and less developed countries have better
share of growth in the world trade.
Introducing sustainable development in which balanced growth of trade
and environment goes together.
 The main objectives of WTO are as follows:
Setting the framework for trade policies.
Reviewing the trade policies of different countries.
Providing technical cooperation to less developed and developing
countries.
 Setting a forum for addressing trade-related disputes among different
countries.
Reducing the barriers to international trade.
Facilitating the implementation, administration, and operation of
agreements.
Setting a negotiation forum for multilateral trade agreements.
Cooperating with the international institutions, such as IMF and World
Bank for making global economic policies.
Ensuring the transparency of trade policies.
Conducting economic research and analysis.
 WTO has the following advantages:
Promoting peace within nations: Leads to less trade disputes. WTO helps
in creating international cooperation, peace, and prosperity among
nations.
Handling the disputes constructively: Helps in lesser trade conflicts.
When the international trade expands, the chances of disputes also
increase. WTO helps in reducing these trade disputes and tensions
among nations.
Helping consumers by providing choices: Implies that by promoting
international trade, WTO helps consumers in gaining access to a large
number of products.
Encouraging good governance: Accelerates the growth of a country. The
rules formulated by WTO encourage good governance and discourage
the unwise policies that lead to corruption in a country.
Stimulating economic growth: Leads to more jobs and increase in
income. The policies of WTO focus on reducing trade barriers among
nations to increase the quantum of import and export.
 International Monetary Fund
 IMF, established in 1945, consists of 187 member countries. It works to secure
financial stability, develop global monetary cooperation, facilitate international
trade, and reduce poverty and maintain sustainable economic growth around
the world. Its headquarters are in Washington, D.C., United States.
 The objectives of IMF are as follows:
Helping in increasing employment and real income of people.
Solving the international monetary problems that distort the economic
development of different nations.
Maintaining stability in the international exchange rates.
Strengthening the economic integrity of the nations.
Providing funds to the member nations as and when required.
Monitoring the financial and economic policies of member nations.
Assisting low developed countries in effectively managing their
economies.
 United Nations Conference on Trade and Development
  UNCTAD, established in 1964, is the principal organ of United Nations General
Assembly. It provides a forum where the developing countries can discuss the
problems related to economic development. UNCTAD is headquartered in
Geneva, Switzerland and has 193 member countries. The conference of these
member countries is held after every four years. UNCTAD was created because
the existing institutions, such as GATT, IMF, and World Bank were not
concerned with the problem of developing countries. UNCTAD’s main objective
is to formulate the policies related to areas of development, such as trade,
finance, transport, and technology.
 The main objectives of UNCTAD are as follows:
Eliminating trade barriers that act as constraints for developing
countries
Promoting international trade for speeding up the economic
development.
Formulating principles and policies related to international trade
Negotiating the multinational trade agreements
Providing technical assistance to developing countries specially low
developed countries
 It is important to note that UNCTAD is a strategic partner of WTO.
Both the organizations ensure that international trade helps the low
developed and developing countries in accelerating their pace of
growth. On 16th April, 2003, WTO and UNCTAD also signed a
Memorandum of Understanding (MoU), which identifies the fields
for cooperation to facilitate the joint activities between them.
 United Nations
 The UN officially came into existence on October 24, 1945, after its charter's
ratification.
 The principles of the UN are to save future generations from war, reaffirm
human rights, and establish equal rights for all persons. In addition, it also aims
to promote justice, freedom, and social progress for the peoples of all of its
member states.
 The United Nations is an international organization designed to make the
enforcement of international law, security, and human rights; economic
development; and social progress easier for countries around the world. The
United Nations includes 193 member countries and two permanent observer
entities that cannot vote. Its main headquarters is in New York City.
 As it was in the past, the main function of the UN today is to maintain peace and
security for all of its member states.
 In addition to maintaining peace, the UN aims to protect human rights and
provide humanitarian assistance when needed. In 1948, the General Assembly
adopted the Universal Declaration of Human Rights as a standard for its human
rights operations.
 The UN currently provides technical assistance in elections, helps to improve
judicial structures and draft constitutions trains human rights officials, and
 provides food, drinking water, shelter, and other humanitarian services to
peoples displaced by famine, war, and natural disaster.
 Finally, the UN plays an integral part in social and economic development
through its UN Development Program. This is the largest source of technical
grant assistance in the world.

Resources:

 https://www.econlib.org/library/Topics/HighSchool/EconomicInstitutions.html
 https://www.thoughtco.com/political-institutions-44026
 http://www.psawa.com/The_role_of_institutions_in_society.html#:~:text=Institutions%20are
%20a%20part%20of%20the%20social%20construction,society%2C%20and%20provide%20order
%20and%20stability%20within%20society
 https://www.internationalrelationsedu.org/what-is-international-relations/#:~:text=Research
%20centers%2FThink%20tanks%20Brookings%20Institution%20Center%20for
%20International,on%20Foreign%20Relations%204%20Global%20Public%20Policy%20Institute
 http://internationalrelations.org/
 https://study.com/academy/lesson/what-is-international-relations.html
 https://www.economicsdiscussion.net/international-economics/4-major-international-
economic-institutions/4249
 https://www.thoughtco.com/the-united-nations-p2-1435441