PPTs Available to You
My Web Page:
http://instruction2.mtsac.edu/rjagodka/
• Click on the “Courses” tab
“Lecture Slides” – in PDF for easy viewing …
How Much Do We Know?
�How much do we know about the world?
How much do you know about geography?
We have much to learn . . .
So, let’s get started!
7 billion people FILM
What Is Globalization?
�The world is moving away from self-contained national economies toward an interdependent, integrated global economic system
Globalization has two facets: 1) Globalization of markets
2) Globalization of production
What Is The Globalization of Markets?
� Globalization of markets refers to the merging of
historically distinct and separate national markets
into one huge global marketplace
� In many industries, it is no longer
meaningful to talk about the
“German market” or the
“American market”
Characteristics:� Falling trade barriers
� Converging consumer tastes
� Same basic products offered worldwide
The Globalization Of Markets
� Find a partner or two - Introductions
� What was your most recent trip/vacation abroad? (even if it was quite a while ago …)
� Did you buy anything unique while there?
� Were products/services similar to what can
be found in the US?
� Share ideas - debrief
Spend some time at the museum Relax at the beach
Global Socializing Trends
Go to a game
How much time do you
spend texting?
Are you addicted to
smart phones and
texting?
Texting in Class
Technology in the classroom . . . Appropriateness
If you have an emergency and
need to receive a text or call –
this is fine
If you habitually text in class –
this is NOT OK (even if you
are addicted to texting)
Laptop use OK - if it does not
cause any distractions – no technology allowed during exam review
The Globalization Of Markets
� Lets test your knowledge
World Eating Quiz
� 200 counties over 200 years FILMhttp://devdata.worldbank.org/DataVisualizer/
What is Globalized Production?
�Globalization of production refers to the sourcing of goods and services from locations around the globe
�Take advantage of Differences in the cost and quality of factors of production
�Land, labor, and capital
Improve
Quality
Lower
Costs
Selection of Country for Semester
We will each get one country to study this semester.
Selection Process based on draw of paper slips
You will get 5 minutes to walk around the room and trade if you like.
The Emergence Of Global Institutions
Globalization requires basic ground rules
Institutions are needed:
�manage, regulate, and police the global marketplace
� promote multinational treaties (to govern)
Global Institutions
WTO
IMF
World Bank
UN
Polices world trade system
• Ensure nations follow rules
• In 2007, 150 nations
(97% of world trade) were
WTO members
• Promotes lower barriers to
trade and investment
G20
Declining Trade & Investment Barriers
Average Tariff Rates on Manufactured Products as Percent of Value
Global Institutions
Monetary cooperation
• Polices the international
monetary system
• Lender of last resort for countries in crisis
• Provides temporary
financial assistance to
countries to help ease
balance of payments
adjustment
WTO
IMF
World Bank
UN
G20
Global Institutions
Economic development
• Financial and technical
assistance to developing
countries
• Is two unique development
institutions (owned by 185
member countries)
• International Bank for
Reconstruction and
Development (IBRD) and
• International Development
Association (IDA).
WTO
IMF
World Bank
UN
G20
Global Institutions
• Peace and security
• Develop friendly relations
among nations
• Cooperate in solving
international problems
• Promote respect for human
rights
• Harmonize the actions of
nations
WTO
IMF
World Bank
UN
G20
Global Institutions
• Largest 19 economies• Finance ministers• Central bank governors• EU & EU Central Bank
• Originally coordinated policy response to financial crisis in developing countries
• Forum through which major nations tried to launch a coordinated policy response to the 2008-2009 global financial crisis
WTO
IMF
World Bank
UN
G20
Globalization
Globalization impacts countries differently
World Bank Economist Branko Milanovic
Elephant in the Room - video
How does this make you feel?
Globalization
Globalization video (15 minutes)
Globalization
While watching, write answers to these questions:
1. What are the 4 main arguments against globalization?
2. Do you agree or disagree with each?