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Chapter 3 the global economy

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MODULE: SS02: THE CONTEMPORARY WORLD CHAPTER 3: THE GLOBAL ECONOMY Objectives: At the end of this module, the learners must have:  Articulated the definition of market integration and its different types;  explained the importance of International Financial Institutions and The Bretton Woods System.  Articulated the concept and feature of global city Introduction Globalization has brought enormous changes to the lives of the people. Humans are the major contributors to the development of the economy. But also, at the same time, humans are the direct descendants of the success and failures of decisions made throughout history. It is therefore, a necessity to be acquainted with the trends and changes of our modern world. With such, knowledge and understanding of the various concepts of globalization and how it affects each economy is vital for the survival and success of every human. The world is moving in fast pace as technology changes every quarter of the year. Distance from each other is no longer an issue because of technology and easy travel opportunities. There is shorter waiting time and everything is fast because communication is reaching even at the farthest part of the world. This module aims to make the students better understand how each economy and market works and how it is affects us. This module will discuss about the basic concepts of global economy, market integration and global city. It will also introduce the history and types of market integration ...
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