NAME: John Rey M.

Olayvar COURSE & SECTION: BPEd-301

Lesson #: 4 THE GLOBAL ECONOMY
Activate Prior Knowledge
Direction: The global economy is like a puzzle. Explain why?

Answer:
- The global economy is like an enigma because, in its meaning, it alludes to the
interconnected international economic activity taking place between various nations it
seems paradoxical that every country comes Working together to succeed in these
economic operations. The potential of the economy to create products and services at
lower cost If there are so many, the overall opportunity cost could be called into
question The state does not participate in economic activity. This saving can have a
positive or negative impact on the countries concerned. They are four the global
economy has several characteristics, namely globalization International trade,
international finance and globalization invest. The first characteristic is that
globalization describes a Processes experienced by national and regional economies,
societies and cultures Integrate the global network of trade, communication and
immigration and transportation. The second factor that is thought to be a result of
globalization is international trade. Means transfer goods and services between other
countries, which helps countries Limit their product expertise to what they are good at
Competitive advantage The third is international finance, where can the money go The
speed of trade between countries exceeds the speed of products, services and people.
The term "global investment" means not belonging to Limited by geographical borders,
it is the last feature of the globe economy
 Assessment
Direction: Answer the following questions with not less than 250 words each.

1. In anticipation of the inevitable end of the Second World War, spearheaded by

United States and Great Britain, 44 countries formed an International economic
policy that will regulate trade and financial agreement. In what period does this
wave belong? How do they differ from the other two?

- This wave belongs to the Keynesian liberal wave or "Shaping the World Economic
Order" Economic Setbacks 1918-1938 During two world wars, such as the Great
Depression of 1929 and 1930 Political and financial leaders lay the institutional
foundations Three international economic organizations have been created. This
wave is too considered a theory of demand because it focuses on changes in the
economy Short term. Keynesian economics is the macroeconomic theory of
aggregate expenditure the economy and its impact on production, employment and
inflation. Keynesian the liberal wave is different from the other two, the early wave
and the neoliberal wave Keynesianism is a macroeconomic theory of interactions
the relationship between savings and investment and its impact on economic
growth the neoliberal wave or neoliberalism is an economic ideology. Neo-liberal
doctrine is more on freedom from the government in terms of taxation, freedom
from regulation, free flow of capital, freedom of tariffs and quotas-the more
prosperity there will be, and prosperity will trickle down from elite to lower classes.
While the other one which is the early age that due to the problem of scarcity of
resources man since time immemorial had resorted to engage trade for survival. In
Middle Ages trade increased and has expanded due to more treaties that was signed
by nations for a safe passage and secure trade. Though, this growing trade in these
times was hampered due to the fact that feudal economic system was self-
sustaining. In Age of Exploration European made an unprecedented level of
exploration because of the growing number of professional explorer and navigators.
This age is known as “changed the shape of the world and the course of history.”
2. As a student what will you do to help yourself and your country face the present
global economic order? 25 points

- As a student, I have to do a lot to prepare for my current studies the world economic
order, but now I prefer specific specifically, what I want to do is pursue the idea of
developing to maintain economic balance. As we all know, the condition our
economy is not as stable as we would like. some countries still do grow while others
get poorer, resulting in uneven economic growth Very Resources are wasted, and
some are even taken for granted, which is not good On the other hand can exceed
and advance the level of human development Live in peace. It is totally possible for
us to reduce the amount of resources we use while boosting values like human
pleasure, wellbeing, education, health, and lifespan. Due to this, I became inspired to
explore the concept of de-development, which holds that wealthy countries should
reduce their consumption to allow developing countries to catch up. Even though
our people are not special rich, but I was inspired to embrace the idea because in
doing so, I will be able to manage on their own to do their shopping and Consume
items you don't need, which is a brilliant idea overall world. I will refrain from
buying what I really need prevent yourself from buying unnecessary things. I can
contribute as a student and as a person living in this country this is we really need to
do something that doesn't just change things ourselves, but also to help other people
or citizens.