Republic of the Philippines

NUEVA VIZCAYA STATE UNIVERSITY

Bayombong, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.: IM-GEWORLD-1STSEM-2020-2021

College of Arts and Sciences

Bayombong Campus

DEGREE General COURSE NO. GE WORLD

PROGRAM Education
SPECIALIZATION COURSE TITLE The Contemporary World
YEAR LEVEL All level TIME FRAME 9 hrs WK NO. 2 IM NO. 1

I. CHAPTER 2: THE STRUCTURES OF GLOBALIZATION

II. LESSON TITLE:

 The Global Economy

 Market Integration
 Core Claims of Market Globalism

III. CHAPTER OVERVIEW

This chapter is devoted to discuss the Structures of Globalization. Discussing global economy and market
integration, this chapter aims to orient the student with the actors that facilitate economic globalization. The
chapter shall also discuss the concept of market integration in relation to global economy while highlighting the
core claims of market globalism and its upshot with globalization.
DESIRED LEARNING OUTCOMES

At the end of the chapter, the students should be able to:

1. Describe the evolution of the world economy

2. Distinguish the actors that contributed in economic globalization
3. Unearth applications of the core claims of market globalism in grasping the totality of the concept of
globalization

IV. LESSON CONTENT

Global economy has its core o the economic interactions among the community of nations. To be able to
have a good grasp of what is global economy, first we have to take a look at the description of the community of
nations and peoples who are its citizens. The second is to take a look at the description of the economic
interactions that occur between nations. These include international trade in goods and services, the international
flow of financial capital, investments by multinational corporations, migration of workers, The proverb of the
three blind men examining an elephant acts as a metaphor for the global economy. Each man touching a different
part of the elephant, leg, trunk and tail, has a very different impression of what is an elephant. The same is true
about the global economy. Countries and regions are economically very different from each other. Its defining
characteristic is the wide disparities in economic achievement and consequent standards of living. A well know
institution, the World Bank, has used a taxonomy or classification scheme ranking the nations of the world based
on average income. The notion is that average income is a measure of the standard of living. Average income.
These relationships involve the exchange of goods and services, financial flows across borders, exchanging
different nations' currencies, movement of people in search of better standards of living. If the global economy is

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 Republic of the Philippines
NUEVA VIZCAYA STATE UNIVERSITY
Bayombong, Nueva Vizcaya
INSTRUCTIONAL MODULE
IM No.: IM-GEWORLD-1STSEM-2020-2021

defined as the economic interactions of among the community of nations, then global economic issues deal with
issues and controversies surrounding these economic interactions.

V. LEARNING ACTIVITIES

Reading Assignment: “The Globalization Paradox” by Dani Rodrik (2011) p.10-18

“The Contemporary World” by Abelos, et. al. (2018) p. 19-23

VI. ASSIGNMENT

Name: ________________________________ Section _______ Date of Submission: _____________

Instruction: Read and comprehend the reading assignments above then answer the following questions in essay
form. Each question is equivalent to 30pts. (20pts for content, 5pts.for organization of thought and writing skill,
5pts.cleanliness and presentation of output)

1. Using the illustration/mapping by Rodrik (2011) on the age of chartered trading companies, give at least three

(3) major turning points the influenced the boom of long-distance trade. Highlight the contribution of each by

elaborating with an example (which can be lifted from the article or can be sourced from other materials).

2. Do you agree to the claim of economic liberals that “economies flourish when markets are left free of state

control”? Using a specific situation/case or instance concerning the Philippines, argue why you agree or disagree.

3. Identify the core claims of globalization by Abelos, et.al (2018) and describe how it becomes applicable in the

Philippine setting by providing a factual example for each.

VII. EVALUATION

1.Choose one top earning company that you know, (or search on the internet) that you had personal experience

with such as shopping from them, eating at their restaurants, etc. Explain the experience and why you think they

reached their recent rank as a top earning company. (10pts.)

VIII. REFERENCES

Rodrik, Dani (2011). The Globalization Paradox. W.W. Norton and Company. New York
Abelos, et. al (2018). The Contemporary World. Mutya Publishing House. Malabon City.

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