Introduction

In this first lesson, you will be introduced to information on globalization: what it is; why it's important; and the positive and negative effects of globalization.  Understanding the interdependence and integration of various economic and political systems is an integral aspect to understanding  globalization. We will study the impact of lowering trade and investment barriers, along with the advancement of technology as these are the two major drivers of globalization. To grasp how so many countries, economies, and trading systems can function synergistically, we will also address the international institutions that help make this happen, as well as the impact of changing demographics on the global economy.

Learning Objectives

After completing this lesson, students will be able to:

1. Define the term globalization and create their own working definition of the term globalization.
2. Evaluate the main drivers of globalization.
3. Analyze the changing nature of the global economy.
4. Demonstrate the impacts of lowered trade and investment barriers.
5. Recognize the strong influence of technological change on globalization.
6. Describe various international institutions and their functions.
7. Discuss the changes in world demographics.
8. Discriminate between the cost and benefits of globalization.
9. Explain how the process of globalization is creating opportunities and challenges for business.

Lesson Readings & Activities

By the end of this lesson, make sure you have completed the readings and activities found in the Lesson 1 Course Schedule.