International Relations (The Role and functions of the IMF and the Essay

International transaction (The Role and functions of the IMF and the World Bank in the International Economic System) - Essay Exampletical science, is the subject field of foreign affairs of and traffic among states within the worldwide system, including the roles of states, inter-governmental organizations (IGOs), non-governmental organizations (NGOs), and multinational corporations (MNCs). It is both an academic and public policy field, and can be either positive or normative as it both seeks to analyze as well as formulate foreign policy. It overly referred to IR as drawing upon such respective(a) fields as economics, history, law, philosophy, geography, sociology, anthropology, psychology, and cultural studies and that it involves a diverse range of issues, from globalization and its impacts on societies and state sovereignty to ecological sustainability, nuclear proliferation, nationalism, economic development, terrorism, organized crime, human security and human rights. (Paraphrasing made)As to how international relations originated, one cannot avoid talking about the Peace of Westphalia of 1648. It is with Westphalia that e the modern state system was demonstrable since it encouraged the rise of the nation-state and the institutionalization of diplomacy and armies. (Wikipedia-IR, 2006) (Paraphrasing made)Having a background therefore of IR, we are confronted with the questions What are the institutions involved? The united Nations assumes a major role in IR as it describes itself as a global stand of governments facilitating co-operation in international law, international security, economic development, and social equity. Wikipedia, (2006) stated that it is the most prominent international institution and many of the legal institutions follow the same organizational structure as the UN. (Paraphrasing made)UN has therefore affiliations with some(prenominal) legal institutions which include International Court of Justice, European Court of Jus tice and the African Court of Justice. It has also affiliations with human rights organisations which include, United Nations Human Rights Council,