DUQUE, NICOLE MARIE T.

BSA 2A

Directions: You can quote/adopt answers from the Modules/Videos for naming, enumerating, and citing
evidences/facts but rephrase them in your own words for the explanation. You may encode or write
your answers on a sheet of paper then take a picture of it. Send/attach your output to the assignment
section.

Essay: Answer briefly and concisely.

1. Cite and explain the different factors that led to Economic Integration. (20 pts.)

Interactions among the Fundamental Factors Driving Economic Integration

Despite the fact that technology, preferences, and public policy all have significant independent impacts
on the pattern and pace of economic integration in its many aspects, they obviously interact in
significant ways. Improvements in transportation and communication technologies do not happen by
themselves in an economic vacuum. People's desire to take advantage of what they perceive to be the
benefits of deeper economic integration—that is, their taste for integration's benefits—is a significant
reason why it is lucrative to make the innovations and investments that improve transportation and
communication technologies. Furthermore, public policy has frequently played a key role in encouraging
innovation and investment in transportation and communication in order to reap the benefits of greater
economic integration.

Human Migration

All current humans are derived from common pre-human ancestors who lived in Africa around one
million years ago, according to DNA evidence. People going from one location to another, primarily on
foot, was definitely the most significant method for contact among and integration of the activities of
diverse human cultures from that time until a few centuries ago. Humans travelled out of Africa and
settled over the Eurasian land mass over a long period of time, around fifty thousand years ago. The
Americas were only settled later; around ten thousand years ago, my mother's Native American
ancestors crossed across the land bridge between Asia and North America, which is now buried under
the Bering Strait.

Trade in Goods and Services

Traditionally, economists have seen trade in commodities and, to a lesser degree, trade in services as
the primary mechanism for integrating economic activity across nations and as a significant (though not
the sole) conduit for conveying economic shocks across countries. Indeed, trade in products is
considered as a substitute for factor mobility in economic theory of international commerce
(particularly, the Hecksher-Ohlin-Samuelson theory taught in most textbooks). The theory claims that,
under certain limited conditions, trade in the outputs of production processes can be an essentially
perfect substitute for factor mobility, with the result that factor returns are equalized internationally—
i.e., factor price equalization is achieved—without the need for factors to move internationally.
2. Enumerate and elaborate the six Epochs or Waves of Globalization. (20 pts.)

The Great Dispersal

The beginning of humanity, what might be called the great dispersal of Homo sapiens, our species, out
of Africa and spreading throughout the whole world.

The Neolithic Revolution

From hunting and gathering to agriculture, from a nomadic life to a settled life in villages, and then
eventually in towns, and eventually in cities

Land-Based Globalization

The Han Empire in China, the Roman Empire in the Mediterranean region. And the trade in between.
And of course other large land-based empires of that age

Ocean-Based Globalization

It’s the globalization that took place with the discoveries of Christopher Columbus on the sea route from
Europe to the Americas and Vasco da Gama on the sea route between Europe and Asia, which
connected all parts of the world through ocean navigation. And that led to profound changes in
geopolitics, in the world economy, in ideas and in many ways was one of the most tumultuous eras and
events of human history

The Anglo-American World

It’s the period when first, the United Kingdom and then after World War II, the United States, were the
dominant powers of the world and really shaped the world institutionally, in language, in the use of
English as the common language for business and science throughout the world in knitting together the
modern, highly integrated world economy that we live in and know of today

The New Globalization

It is the globalization that is underway.

3. Compare and Contrast: A. Intergovernmental vs. Supranational B. Multi National vs.

Transnational (15 pts.)

The term intergovernmental organization (IGO) refers to an entity created by treaty, involving two or
more nations, to work in good faith, on issues of common interest.

Supranational is a term which usually refers to an institution or jurisdiction to which several sovereign
nations have jointly delegated a portion of the sovereignty of each—exempli gratia "the European Union
and the International Court of Justice are supranational entities".
Multinational usually refers to an entity or organization--often a commercial one--that operates
significantly within and interacts with several sovereign nations—exempli gratia, "General Motors is a
multinational corporation or Doctors without Borders is a multinational charity."

Transnational refers to a process, event, or thing to which accrues an essential characteristic of

tangibles transiting international borders—exempli gratia "transnational shipment" viz "international
communication".

4. Discuss the metaphors of globalization as an increasing liquidity and growing multi directional
flows. ((15 pts.)

Globalization is a trans planetary process or group of processes including increased liquidity and
multidirectional movements of people, goods, places, and information, as well as the structures they
meet and build that act as barriers to or expedite those flows.

Liquidity Metaphor : With globalization, things including people, objects, information, and places are
melting and becoming liquid

Solid material realities (people, cargo, newspapers) continue to exist, but because of technological
development (transportation, communication, the internet, and so on) they can move

5. Name and explain the structural barriers to just or fair economic globalization. (20 pts.)

Natural obstacles, such as geography and language, tariff barriers, or tariffs on imported products, and
nontariff barriers are the three primary impediments to international commerce. Import quotas,
embargoes, buy-national policies, and exchange restrictions are examples of nontariff trade obstacles.