Midterm Econ102
John Arnold
Econ 102
Midterm: (essays of 250-500 words per chapter; per the syllabus)
Globalization Economics Chapters 1-4
Chapter 1: Globalization in General & Globalization Economics in Particular
This chapter gives an over view concept of what globalization entails. The chapter gives a great description and definition of the concept: “Globalization is a holistic, or systematic, set of structures, dynamics, functions or goals, internal constraints, and external impediments”. All of this is relative to the exchange of goods, services, e-goods, information, ect. In other definition, globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most interesting thing I got from this chapter is the history of globalization. The chapter goes into detail about the triangular commerce of the 15th century. According to unesco.org, The transatlantic slave trade is often regarded as the first system of globalization. The transatlantic slave trade, often known as the triangular trade, connected the economies of three continents. This site also states, that it is estimated that between 25 to 30 million people, men, women and children, were deported from their homes and sold as slaves in the different slave trading systems. In the transatlantic slave trade alone the estimate of those deported is believed to be approximately 17 million. These figures exclude those who died aboard the ships and in the course of wars and raids connected to the trade. This chapter then goes into how globalization affects people today; I thought the chapter touched on a great point about how people in places like Bangladesh are now using mobile and
Econ 102
Midterm: (essays of 250-500 words per chapter; per the syllabus)
Globalization Economics Chapters 1-4
Chapter 1: Globalization in General & Globalization Economics in Particular
This chapter gives an over view concept of what globalization entails. The chapter gives a great description and definition of the concept: “Globalization is a holistic, or systematic, set of structures, dynamics, functions or goals, internal constraints, and external impediments”. All of this is relative to the exchange of goods, services, e-goods, information, ect. In other definition, globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world. The most interesting thing I got from this chapter is the history of globalization. The chapter goes into detail about the triangular commerce of the 15th century. According to unesco.org, The transatlantic slave trade is often regarded as the first system of globalization. The transatlantic slave trade, often known as the triangular trade, connected the economies of three continents. This site also states, that it is estimated that between 25 to 30 million people, men, women and children, were deported from their homes and sold as slaves in the different slave trading systems. In the transatlantic slave trade alone the estimate of those deported is believed to be approximately 17 million. These figures exclude those who died aboard the ships and in the course of wars and raids connected to the trade. This chapter then goes into how globalization affects people today; I thought the chapter touched on a great point about how people in places like Bangladesh are now using mobile and