Important terms to remember.

1. Globalization – is a process of expanding various sociocultural and socio-ecological

processes from national to international and transcultural level (Al-Rodhan, 2006).
2. Global Connected Index (GCI) – is a measurement of flows and interconnection of a
country to other global players through exchanges in trade, capital, people, and
information (Atman, et al., 2018).
3. Development paradigms – an idea of prescribed path to attain development through
certain set of activities, according to a defined vision (Bellu, 2011).
4. Economic globalization – is the expansion of national economies, the global market
driven by modern technologies and institutional set ups that promote faster and easier
flow of goods and capital (Sugden and Wilson, 2005).
5. Global economy – denotes that the economies of various countries are more
interconnected from extraction, production, distribution, consumption, to disposal of
goods and services (Carfi and Schiliro, 2018).
6. International financial institutions – are global financial institutions that support a
country’s economic growth through support (i.e., loans, technical assistance) to
governments and now other private sectors (Wood, 2019).
7. International Monetary Fund – is an international organization with 183 member
countries that promotes international monetary cooperation and exchange stability to
foster economic growth and high employment and to provide short-term financial
assistance to countries to help ease balance of payments adjustments (IMF, 2019).
8. Global civil society – is a system of nongovernment institutions that operate across
geographical borders and organize and mobilize for a common issue or cause (Keane,
200:8).
9. Global Corporation – is an enterprise that engages in activities which add value
(manufacturing, extraction, services, marketing, etc.) in more than one country (UCTC,
1991).
10. World System – is based on the theory of Wallerstein (1974) that recognizes that
social and economic change is not only endogenous to a country, but is affected by its
interaction to exogenous institutions, thus the focus on world-systems (Chase-Dunn,
2018).
11. Economic integration – is a process of combining or increasing the interconnectivity
of national economies to the regional or global economies (Clark et al., 2018).
12. International Labor Organization (ILO) – deals with labor problems and international
labor standards and social protection for workers.
13. Food and Agriculture Organization of the United Nations (FAO) – leads international
efforts to defeat hunger, eliminate food insecurity and malnutrition, and increase
resilience of livelihoods and food.
14. UNESCO – contributes to peace and security by promoting international
collaboration through educational, scientific, and cultural reforms.
15. Market integration – is a process by which economies are becoming more
interdependent and interconnected in terms of commodity flows including externalities
and spillover of impacts (Greschel and Jacktenfuchs, 2017).
16. International Financial Institutions or IFIS are institutions that provide support
through loans or grants and technical advices to promote a country’s economic and
social development (Bhargava, 2006:393).
17. Corporations- are private institutions that produce or manufacture goods, products,
and services for a more expanded market usually at the reach of regions or the world.
Transnational corporations (TNCs) have a more complex setting where each foreign
subsidiary is given more freedom to develop its own product lines and marketing
compared to multinational corporations (MNCs), which have more of a home or country
base taking care of the R&D and marketing, and focus more on exporting their products
and services (Iwan, 2007).
18. Global governance – collective efforts to identify, understand, and address
worldwide problems that go beyond the problem-solving capacities of states (Weiss,
2010).
19. UN General Assembly - is the main decision-making and representative assembly
and is responsible for upholding the principles of the UN through its policies and
recommendations. It is composed of all member states and headed by a president
elected by the member states.
20. UN Security Council – can authorize the deployment of UN member states’
militaries, can mandate a cease-fire during conflicts, and can enforce penalties on
countries if they do not comply with given mandates. It is composed of five permanent
members and 10 rotating members.
21. The International court of justice – can settle, according to international law, legal
disputes between States and give opinions, mostly advisory, on legal questions brought
to it by UN organ and agencies.
22. The Economic and Social Council – assists the UN General Assembly in promoting
economic and social development, as well as cooperation of member states.
23. The Secretariat - headed by the Secretary-General, provides studies, information,
and other dates when needed by other UN branches for their meetings.
24. International Law – laws that regulate relations of states and international persons.
25. National Law – laws that regulate individuals among themselves or within the state.
26. Treaty - an international agreement conducted between states, in written form and
governed by international law, whether embodied in a single instrument or in two or
more related instruments, whatever its particular designation (Art. 2(1) (a), Vienna
Convention on Law of Treaties).
27. Law of the sea – a body of international rules that binds states and other subjects of
international law in their maritime affairs.
28. Archipelagic state –a state constituted wholly by one or more archipelagos and may
include other islands.