Chapter 2- The Global Economy (9 hrs)

Learning Outcomes:
At the end of the lesson, the students must be able to:
 Define economic globalization;
 Identify the factors that facilitate economic globalization;
 Define modern world system; and
 Articulate a stance on global economic integration

GLOBAL ECONOMY
The international spread of capitalism, especially in recent decades, across national boundaries
and with minimal restrictions by governments. The global economy has become hotly
controversial. Critics allege that its props, free markets and free trade, take jobs away from
well-paid workers in the wealthy nations while creating sweatshops in the poor ones. Its
supporters insist that the free movement of capital stimulates investment in poor nations and
creates jobs in them. The process is also called globalization.
Lesson 1- What is Economic Globalization
1.The widespread of international movement of groups, capital, services, technology, and
information that increase the interdependence of world economies.

2.Economic globalization refers to the intensification and expansion of

mutual economic interactions on the world scale. Economically, three dimensions
of globalization—trade, financial, or financial and globalization of production—draw
attention. 

3.The global integration of economies through trade and investment flows as well as the
internationalization of the production of goods and services. 

Sources: https://www.igi-global.com/dictionary/economic-globalization/61002

Lesson 2- Actors of economic Globalization

Global Actors
  International Economic and Financial Organizations.
 International Governmental Organizations (IGOs)
 Media.
 Multilateral Development Banks.
 Nation-States.
 Non-Governmental Organizations (NGOs)
 Trans-National Corporations (TNCs)
 United Nations (UN) System

Sources: https://www.sciencedirect.com/science/article/pii/S0048969719326336

Lesson 3- Definitions of modern system

Modern Systems is an independent modernization company that empowers IT efficiency,
agility, and competitive advantage through core application modernization
Sources: https://prezi.com/vbpenwg-pyqq/impact-of-globalization-on-business/

TEACHER’S INSIGHT

Globalization refers to the process of integrating governments, cultures, and financial markets
through international trade into a single world market. There are benefits and drawbacks to
globalization. Often the countries that fare the worst are those that depend on natural resource
extraction for their wealth. Many critics fear globalization gives too much power to
multinational corporations and those political decisions are influenced by these major financial
players.