Is globalization a dirty word? The shocking decision by Great Britain to leave the European Union seems to cast doubt on the viability of globalization. In this lesson you will access several types of information about the World Bank report, including a video file, a PowerPoint slide show, and a press release. Your objective is to determine the benefits of globalization and also to consider the costs of globalization.
Is globalization a dirty word? The shocking decision by Great Britain to leave the European Union seems to cast doubt on the viability of globalization. Can the world become increasingly interconnected, or will globalization’s negative effects encourage more isolationism? What do you think?
In this lesson you will access several types of information about the World Bank report, including a video file, a PowerPoint slide show, and a press release. Your objective is to determine the benefits of globalization and also to consider the costs or disadvantages of globalization.
- Define globalization and analyze its economic effects.
- Understand how globalization impacts trade and the outsourcing of jobs.
- Examine the recent challenge posed by Brexit to the trend of globalization
- Summarize the benefits and costs associated with an increasingly global economy.
- Activity Worksheet – Supplementary questions to the Video, PowerPoint Presentation and Overview Article in the activities below.
- Youtube video on globalization: the video gives an overview of globalization, outlining its positive and negative effects.
- Impact of Globalization: The Good, The Bad, The Inevitable: an article on the effects of globalization.
- International Trade from 1960-2014: shows a graph of the trade during the last 50 years. Click on the tab that says Exports of goods and services to see trade as a percentage of world GDP.
- U.S. has lost 5 million manufacturing jobs since 2000: A CNN article discussing how outsourcing has led to a decline in the manufacturing industry.
- NAFTA: Gives a brief overview of NAFTA and its purpose.
- Trade figures with Mexico
- Trade Figures with Canada
- How we lost jobs to Mexico: the article details the process of outsourcing and how it affects labor markets and employment in the U.S.
- Britain just killed globalization as we know it: an article on Britain’s exit from the European Union and the future of globalization.
If the students have not already, have the students print off the accompanying worksheet. Have the students click on the link to access a brief video outlining the basic ideas of globalization. As the students watch and listen to the video, have them answer these the question for Activity 1. Hint: the students may pause the video to write down their answers and then click play to continue. If there is time, students can read this article to learn more about globalization.
Now that your students have been introduced to the concept of globalization, let’s focus on the economic effects of globalization. In this activity, we will look at how globalization has impacted international trade, outsourcing of jobs, and the formation of trade agreements.
View the amount of international trade by going to the World Bank https://data.worldbank.org/topic/trade?end=2014&start=1960 and clicking on the tab that says Exports of goods and services. Then, to learn about outsourcing, have students read the CNN https://money.cnn.com/2016/03/29/news/economy/us-manufacturing-jobs/ on the loss of manufacturing jobs to Mexico. For the last activity, students learn about NAFTA by looking at U.S. trade between Mexico and Canada and reading a news https://money.cnn.com/2016/03/31/news/economy/mexico-us-globalization-wage-gap/ on how NAFTA affects the labor markets in the U.S.
Your students have just investigated many economic effects brought about by globalization. They should also be aware that the 3 economic effects are closely tied together and should be briefly explain in a couple of sentences how they relate. [Globalization has led to the increase in international trade but also the export of jobs abroad. Trade agreements accelerate the process of globalization, further magnifying these effects.]
We have seen the economic impacts of globalization, both positive and negative. Now students will read about the impact of https://www.washingtonpost.com/news/wonk/wp/2016/06/25/great-britain-just-killed-globalization-as-we-know-it/ and how it can impact globalization moving forward. After reading the article, students should answer the questions corresponding to Activity 3 on the worksheet.
The students have investigated how globalization has both positive and negative economic effects. They also have also noted some of the controversies that surround globalization. Because globalization is such a controversial topic, students see why Britain chose to leave the European Union and the how the future of globalization remains unclear.
Have students research a multinational corporation (McDonald’s, Apple, Toyota…), to understand how companies respond to globalization. Afterwards, have students answer the questions about their corporation as indicated on the worksheet (it’s at the end).
To conclude this lesson on globalization, have the students click on the link below and locate page four of the article. Out of the seven agenda items , have the students select the two they believe are most important and write a brief statement of support for the two items they selected.