Globalization and the World Economy

Curriculum Guideline

Effective Date:
Course Code
ECON 1103
Globalization and the World Economy
Commerce & Business Administration
Start Date
End Term
Not Specified
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
Course Designation
Certificate in Global Competency
Industry Designation
Contact Hours
Lecture: 3 Hours Discussion: 1 Hour
Method(s) Of Instruction
Learning Activities

Lecture and discussion.

Course Description
Globalization and the World Economy provides an overview of the broad economic trends in the development of the world economy since the second world war. The course will address the major debates relating to economic interdependence, economic development and growth, the patterns of international trade and investment, global financial markets, natural resource scarcity, and the role of major multilateral economic institutions such as the World Bank and IMF. The course will also introduce some of the main economic theories which have played a significant role in these debates. The material presented in this course will appeal to anyone looking for a deeper understanding of contemporary world events in the economic, political and social spheres.
Course Content
  1. Facts relating to the global economy in the 21st century
  2. Review of economic concepts relating to markets
  3. Overview of world trade
  4. Protectionism vs free trade
  5. Commercial Policy since the second world war
  6. Foreign direct investment and locational competition between governments
  7. Economic growth, income distribution, poverty and population growth
  8. Energy and the world oil market
  9. Global financial markets
  10. World monetary system and financial imbalances
  11. Global warming and Kyoto
  12. The global information economy
Learning Outcomes

The student will be able to: 

  1. Describe the state of the world economy at the beginning of the 21 st century;
  2. Explain the issues surrounding the debate over protectionism vs free trade;
  3. Outline the major international agreements governing commercial policy;
  4. Explain the major issues associated with direct foreign investment;
  5. Analyze the issues associated with economic growth, income distribution and poverty, and population growth;
  6. Explain the growth of global financial markets;
  7. Evaluate the role played by major multilateral institutions such as the IMF and World Bank.
Means of Assessment
Paper  0% - 20%
Assignments  0% - 30%
Term Tests  0% - 20%
Midterm Exam       20% - 40%
Final Exam 20% - 40%
Total        100%

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Textbook Materials

Textbooks and Materials to be Purchased by Students

To be chosen from:

Friedman, Thomas. The Lexus and the Olive Tree, Latest Ed.  Anchor Books.


Wolf, Martin. Why Globalization Works, Latest Ed. Yale University Press.


Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses