Reviewing Globalization Globalization Day 11. Objectives Review basic economic principles. Review key trade agreements & agencies. Review issues and controversies.

Slides:



Advertisements
Similar presentations
POSC 1000 Introduction to Politics Russell Alan Williams.
Advertisements

VENUE: TRANSCORP HILTON HOTEL, ABUJA
Understand the role of business in the global economy. 1.
GLOBALIZATION UNIT LESSON 3 GLOBAL FINANCIAL CRISIS.
Economics 151 International Economic Issues. International Economic Institutions Three global organizations play major role in international economic.
Understand the role of business in the global economy.
Globalization. What is a global society? Globalization refers to the process by which one society becomes integrated with other nations around the world.
6.2. Managing the Global Economy: From Theory to Practice Learning Objectives: –Familiar with the objectives of global economic management –Understand.
3 Business in the Global Economy 3-1 International Business Basics
Describe the key policy measures that make globalization sustainable.
Growth of Free Trade in the World. Free Trade and Economic Globalization The increase in free trade is directly responsible for the spread of economic.
Lesson 4: Global Financial Integration. Global Financial System “During the past two decades, financial markets around the world have become increasingly.
GLOBALIZATION LESSON 3 GLOBAL FINANCIAL CRISIS. OBJECTIVES Review events leading up to financial crisis that struck the US in Explore the reverberations.
Globalization & Economics. What is Economic Globalization? Interrelations Capital & technology  trade 2 Types of Trade 1.Merchandise trade Primary goods.
Globalization Day 9 Mini Lesson.  Students will identify purpose of G-20.  Students will explain issues surrounding currency wars and trade imbalances.
GLOBAL ECONOMIC ORGANIZATIONS Organizations Promoting Internationalism.
Business in a Global Economy
1.9 Globalization Chapter 9. What is Globalization? The growing trend towards world-wide markets in products, capital and labor, and unrestricted by barriers.
Influence of Institutions on Firms, Managers and Firm Behavior
© 2012 Cengage Learning. All Rights Reserved. Principles of Business, 8e C H A P T E R 3 SLIDE International Business Basics The Global.
Intro to Business Chapter 3 Business in the Global Economy
Supranationals. Coming Together or Falling Apart Devolution = decentralizing the unitary state, share policy-making with regional governments Integration.
Competing in Global Markets
Globalization Day 8 Mini Lesson.  Explore events leading up to financial crisis that struck the US and the world in  Interpret political cartoons.
Global Financial Crisis
WHAT IS GLOBALIZATION? WHY IS IT HAPPENING? HOW DOES IT IMPACT US AND THE WORLD?
Economics- Money Matters. Economics 1.A social science- deals with production of goods and services 2.With limited or scarce resources 3.For consumption.
How can states working together to protect economic security? What are the main intl. issues that countries seek to address internationally? (a) Preventing.
Reviewing Globalization. Objectives Review basic economic principles. Review key trade agreements & agencies. Review issues and controversies surrounding.
Lecture 07. Lecture Review  The Role Of Technological Change  The Changing Demographics Of The Global Economy  The Changing World Output and World.
LESSON 2 REGULATING GLOBALIZATION. OBJECTIVES Review economic systems. Review key economic terms. Introduce trade agreements and regulating bodies. Identify.
GLOBALIZATION. What is globalization? n A single economy n Free movement of capital. n Internationalization of non- business activities. n Awareness of.
International Monetary Funds IMF works to: foster global monetary cooperation secure financial stability facilitate international trade promote high.
Economic Recovery in Europe West German Economic Miracle Assisted by US to fight cold war Rebuild industry High quality German goods in demand around world.
5 October 2015 by Sigrid Brevik Wangsness.  The largest economy in the world with a major impact on the global economy  Until October 2008 an economic.
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms related to globalization.
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms related to globalization.
NS3040 Fall Term 2015 World Trade Organization (WTO)
INTERNATIONAL FINANCE Lecture 6. Balance of Payment (Accounting of transactions) – Current Account – Capital Account Current Account (Purchase Summary)
Money, Banking, & Finance Key Terms. Bonds Formal contract to repay borrowed money and interest on the borrowed money at regular future intervals.
The International Financial System Chapter 13 © 2003 South-Western/Thomson Learning.
Developed by Cool Pictures and MultiMedia Presentations Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Developed.
© 2017 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
Copyright © 2004 by South-Western, a division of Thomson Learning, Inc. All rights reserved. Part 1 Business in a Global Environment.
Economics Goals Textbook reference Unit 6 (Ch. 17 – 21)
Economic Globalization
Chapter 11 International Economics: The Alternative Road.
Global Economic Competition and Cooperation
BUSINESS IN THE GLOBAL ECONOMY Chapter 3. Lessons  International Business Basics  The Global Marketplace  International Business Organizations  EQ:
World Regional Geography Unit I: Introduction to World Regional Geography Lesson 3: Institutions of Economic Integration Question.
Globalization A process that makes something worldwide in its reach or operation. Globalization is often used in reference to the spread and diffusion.
Global Financial Crisis GLOBALIZATION LESSON 3. Objectives  Review events leading up to financial crisis that struck the US in  Explore the reverberations.
Global Impacts and Global Organizations. Environmental Challenges Technology and industrialization have helped to raise the standard of living for many.
ECONOMIC INTERDEPENDENCE MAURY HIGH SCHOOL HONORS WORLD STUDIES II MAURY HIGH SCHOOL HONORS WORLD STUDIES II.
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms and theories related to globalization.
Globalization & Economics. What is Economic Globalization? Interrelations Capital & technology  trade 2 Types of Trade 1.Merchandise trade Primary goods.
Bell Ringer List in your notes anything you know about economics.
Objectives Describe the ways in which countries around the world are interdependent. Understand how international treaties and organizations make global.
Textbook reference Unit 6 (Ch. 17 – 21)
Globalization & Economics
Business in the Global Economy
International Relations. Law & Organisations Terms
Global Financial Crisis
International Economics Analyze costs and benefits of global trade
Organizations Promoting Internationalism
Bilateral/Multilateral/ Regional (Handout)
Explain what the term soft loans mean.
NS3040 Fall Term 2018 World Trade Organization (WTO)
How can states working together to protect economic security?
Warm - up One of the arguments in support of protective tariffs is that they save domestic jobs. Demonstrate this on a graph. Who are the stake holders.
Presentation transcript:

Reviewing Globalization Globalization Day 11

Objectives Review basic economic principles. Review key trade agreements & agencies. Review issues and controversies surrounding globalization.

Warm Up What is economics? –Way in which we manage limited resources to meet unlimited needs –Market Free choice, competition, limited govt role –Command Govt decides, controls Security over risk –Traditional Custom dictates Support selves

Review Key Terms –Identify the term being described in the pictures you’ve been given.

Review What is globalization? –Growing integration of the world’s economies and societies. –New communications technology –Free trade, open currency markets, privatization

Trade Agreements and Regulating Bodies Regional Trade –NAFTA –EU –AU –ASEAN International Trade –IMF –World Bank –WTO

Trade Agreements and Regulating Bodies Bretton Woods Conference International Monetary Fund (IMF) –Short term loans to countries in economic crisis World Bank –Financial aid for long- term development GATT World Trade Org. –Promote & monitor free trade among member nations –Settle disputes

Globalization: Issues and Controversies National Sovereignty Loss of Cultural Identity Free Trade or UnfairTrade Globalization & Human Rights Globalization & Migration Emerging Powers Global Economic Crisis

Global Pool of Money –How did world invest in US housing market? Mortgage Backed Securities –Problem ? Not enough mortg’s = Lowered standards (NINAs) Default / Foreclosure = securities worth less Stock Market “Crash” = banks / financial co’s bankrupt Credit crunch (no loans for cars, school, house, small business) Unemployment –Fix ? Govt bailouts Overhaul / Regulate system

Global Economic Crisis Global Impact US Crisis? –Global investors $1 trillion loss –Decline international trade –Drop US demand hurts growing economies –Lower US interest rates = weaker dollar = declining profits for trade partners –Fear of repeat in Eurozone = PIGS

Handout 10 Things You Should Know about Globalization