Globalisation Lecture 1

Question 1

What is Globalisation

Answer 1

Globalisation is described as the interconnectedness and integration of economics, cultures and societies on a global scale

Question 2

What macro factors inform the debate over whether globalisation is a ‘good’ or ‘bad’ thing

Answer 2

macro factors such as economic growth, income inequality , cultural homogenisation, environmental sustainability, and geopolitical stability

Question 3

What micro factors inform the same debate

Answer 3

Micro factors such as individual job security, wage levels, access to healthcare, cultural preservation, and community cohesion

Question 4

What are the key risks and rewards associated with globalisation

Answer 4

The key risks of globalisation include increased economic inequality, loss of cultural identity, and environmental degradation. While the rewards of globalisation encompass enhanced economic growth, access to possible new markets, and cultural exchange.