COURSE CODE:

COURSE NAME:
Contemporary World
COURSE MODULE: 4
AUTHOR

Dr. Leoncio P. Olobia

Olobia, L. Contemporary World. Leyte Normal University.

Module 4
Market Integration & Education in the Context of Globalization
Overview

In this module, you will understand that the economy is part of an economic system that
includes consumption, production and exchange of goods and services both internally like
domestic exchange and externally as in the case of international trade. These processes are
made possible because of people’s involvement. In other words, the aforementioned economic
players keep institutions going, their systemic interactions make up a web of integrated
individuals and institutions whose actions affect one another, that is why an economy is a
system.

Economic system generally has three sectors interacting with one another. The primary sector
extracts raw materials from natural environments. Workers like farmers or miners fit well in the
primary sector. The secondary sector gains the raw materials and transforms them into
manufactured goods. This means, for example, that someone from the primary sector extracts
oil from the earth then someone from the secondary sector refines the petroleum to gasoline.
Whereas, the tertiary sector involves services rather than goods. It offers services by doing
things rather than making things (Aldama, 2018).

This module will highlight discussions of financial institutions responsible for many global
transactions that propelled economic growth of many nations throughout the world. The
second part will discuss the relationship between education and globalization.

Objectives

At the end of this module, you are expected to

 Discuss the Bretton Woods System, IMF, WB, OECD, GATT, OPEC & EU
 Choose among the given Financial Institutions the ones that speed up the globalization
process
 Analyze issues confronting International Financial Institutions
 Discuss and analyze the relationship, roles and issues of education in globalization

DISCUSSION
International Financial Institutions

For your learning purpose, International financial institutions (IFIs) are international financial
organizations which multiple nations founded. They are subject to international law instead of
the laws of any one single country. The IFIs are usually owned by national governments of the
founding members.

Sometimes other international institutions or organizations are stakeholders as well. Even

though there are IFIs that two or three nations created, the best known ones were developed
by numerous national participants. The most famous international financial institutions arose
following the Second World War in order to help rebuild Europe, as well as to offer the means
of multinational cooperation in overseeing the world’s financial system.

The largest international financial institution in the world today proves to be the European
Investment Bank. In 2013, this organization possessed a balance sheet that amounted to
512 billion euros. This compares to the main component parts of the World Bank,
the IBRD with $358 billion in assets as of 2014 and the IDA with its $183 billion in assets as
of 2014. By means of comparison, the world’s biggest international commercial
banks boast assets each totaling between $2 – $3 billion, as with Britain’s HSBC and the
United States’ JP Morgan Chase Bank.
Arguably the most important international financial institutions in the world today remain the
ones which the Bretton Woods agreement founded in 1944. These are the World Bank
and the International Monetary Fund. Both are participating members of the United Nations
system. Their goals are to improve the standards of living in their respective member nations.
Each of these two organizations has its own approach to achieving this mandate, yet they
complement each other. The IMF concentrates its efforts on larger macroeconomic issues. The
World Bank instead focuses on developing the economies and reducing the poverty of member
states over the longer term.

The World Bank and IMF came into being in July of 1944 at the internationally attended Bretton
Woods Conference held in New Hampshire. The conference had a goal to build up a new
framework of development and economic cooperation which would help to establish a more
prosperous and stable global economy. Over 70 years later, this goal is still critical to the
operations of both international financial institutions. Only the means they use to reach the
goals has changed as different economic challenges and developments arise.

The World Bank mandate is to encourage poverty reduction and economic improvement longer
term. They do this by offering financial and technical assistance to aid countries which are
trying to reform sections of their economies or to develop particular projects. These projects
could be delivering electricity and water, constructing health centers and schools, safeguarding
the environment, or fighting disease. Such help as the World Bank provides is typically longer
term in nature and funded by contributions from member nations as well as by issuing bonds.
The staff of the World Bank is typically specialized in certain sectors, issues, or methods.
The IMF on the other hand operates under a mandate to foster monetary cooperation on an
international level while it offers technical assistance and policy advice to help countries to
develop and keep more prosperous and stronger economies. As part of this, the IMF offers
loans. They also help nations to create policies and programs that will address their imbalance
of payments if they are unable to obtain affordable term financing to meet their international
financial obligations. These loans are either medium or short term. The funds come from the
quota contributions’ pool provided by member states. The staff of the IMF is mainly economists
who possess vast experience with financial and macroeconomic issues.

Source: What are International Financial Institutions (IFI)? Retrieved from [Link]-
[Link]

A. Bretton Woods System. In this section, you will be introduced to one financial
institution. Organized in New Hampshire in 1944, the Bretton Woods system was an agreement
signed by members of allied nations such as USA, United Kingdom, Canada, Japan and other
superpowers as an economic cooperation so that the destabilizing effects of World War II, the
Great Depression would not recur anymore, thus, reduction of barriers to trade and free flow of
money among nations were sought to instill global economic order.

One of the important elements of the system that you need to know is that gold was the basis
for the US dollar and all currencies were pegged against the dollar. During its incipient stage,
the dollar value of an ounce of gold was $35 to an ounce of gold. Such money-gold relationship
is likened to a term called gold standard as a monetary system where a country’s currency or
paper money has a value directly linked to gold.
Another element of the Bretton Woods System was the imposition of a fixed exchange rate
system that was determined by the Central Bank.
Under a fixed exchange rate system, the currency is not allowed to have a flexible rate, hence it
is fixed as determined by the Central Bank. The third element of the Bretton Woods System was
the establishment of the International Monetary Fund and the World Bank.
In order that you will learn more about Bretton Woods System, watch the video below and
answer the question that follows.
……… What’s the “Bretton Woods” System? Retrieved from [Link]

International Monetary Fund (IMF)

Apart from the role of IMF to monitor exchange rates, you will begin to realize that the
institution was tasked to help war-ravaged economies to rebuild from devastation. Next, it was
built to lend reserve currencies to nations with trade deficits and to encourage and further
international trade.
Today, the IMF has 189 member nations working to foster global monetary cooperation, secure
financial stability, facilitate international trade, promote high employment and sustainable
economic growth, and reduce poverty around the world.
The IMF helps economies by extending loans in order to revive financial instability. Likewise, it
provides precautionary loans to certain economies that are about to experience unfortunate
economic backlash, thus, the loan is a precaution. The overarching idea of IMF’s role is the
increased interdependence of nations following devastation in WWII which linked nations in
their quest for economic progress. Not all economies experienced positive growth, others were
immersed in recessions and depressions, hence, IMF helped by extending low-interest loans to
recover – this was the balancing effect of the institution to prevent from any further instability.
For further knowledge of the IMF, watch the video below:
[Link]

B. World Bank. The World Bank is an international financial institution that provides
loans and grants to the governments of poorer countries for the purpose of pursuing capital
projects ([Link]). It was organized in mid 1940’s to extend temporary loans to war-torn
nations with poor income that could not obtain loans by themselves to pursue economic
recovery plans. Although it started with such mission, today WB is more focused on addressing
poverty such as construction of roads, health facilities, among others, not the typical banking
system one can see. There are 189 member countries of WB that are called shareholders since
they own shares with the organization depending on the size of the fees they pay to the
organization. Naturally, these fees comprise the funding source of the various capital projects
of the organizations that benefit poverty-stricken nations. Depending on the number of shares,
voting power follows the ratio: one share one vote. United States of America has about 15
shares so it gets 15 votes. China, a big economy that should get high share is actually owning
small share because it is more of a beneficiary to the loans rather than as a provider, at least at
some point of its operation.
Because of the large membership of the organization, it has large reserves for lending at low
interest rate, its credit rating is also high so that countries in need of loans can borrow from WB
as its reserves are backed up strongly by high economies.
 C. General Agreement on Tariffs and Trade (GATT). The General Agreement on Tariffs
and Trade (GATT) was a legal agreement that reduced international trade barriers among
member nations. The law which took effect on January 1, 1948 reduced quotas, tariffs and
subsidies mean to revitalize WW II-stricken economies through liberalizing global trade. This
ultimately eased international trade. In 1995 GATT was absorbed into the World Trade
Organization (WTO).
Historically GATT was implemented as a response against costly restrictions of pre-war
protectionist policies. Also, the agreement was meant to arbitrate commercial disputes among
nations, and the framework enabled a number of multilateral negotiations for the reduction of
tariff barriers (Majaski, 2019).
The guiding principle of the organization that practiced non-discrimination among member
nations was called most-favored nation principle. For example, if a tariff cut was implemented
in one country, the same action was given to other member nations without prejudice.
To learn about the impact of GATT on the agriculture sector in the Philippines, read the article
below and do the activity.

D. World Trade Organization. The WTO is based on agreements signed by the majority
of the world’s trading nations. The main function of the organization is to help producers of
goods and services, exporters, and importers protect and manage their businesses. As of 2019
the WTO has 164 member countries, with Liberia and Afghanistan the most recent members,
having joined in July 2016, and 23 “observer” countries. The WTO is essentially an alternative
dispute or median entity that upholds the international rules of trade among nations. The
organization provides a platform that allows member governments to negotiate and
resolve trade issues with other members. The WTO’s main focus is to provide open lines of
communication concerning trade between its members.

For example, the WTO has lowered trade barriers and increased trade among member
countries. On the other hand, it has also maintained trade barriers when it makes sense to do
so in the global context. Therefore, the WTO attempts to provide negotiation mediation that
benefits the global economy.

Once negotiations are complete and an agreement is in place, the WTO then offers to interpret
that agreement in the event of a future dispute. All WTO agreements include a settlement
process, whereby the organization legally conducts neutral conflict resolution.

No negotiation, mediation, or resolution would be possible without the foundational WTO

agreements. These agreements set the legal ground rules for international commerce that the
WTO oversees. They bind a country’s government to a set of constraints that must be observed
when setting future trade policies. These agreements protect producers, importers, and
exporters while encouraging world governments to meet specific social and environmental
standards.

President Trump has threatened to withdraw from the WTO, an act that could disrupt trillions
of dollars in global trade.
Advantages and Disadvantages of the World Trade Organization (WTO)
The history of international trade has been a battle between protectionism and free trade, and
the WTO has fueled globalization with both positive and adverse effects. The organization’s
efforts have increased global trade expansion, but a side effect has been a negative impact
on local communities and human rights.

Proponents of the WTO, particularly multinational corporations (MNCs), believe that the
organization is beneficial to business, seeing the stimulation of free trade and a decline in trade
disputes as beneficial to the global economy. Skeptics believe that the WTO undermines the
principles of organic democracy and widens the international wealth gap. They point to the
decline in domestic industries and increasing foreign influence as negative impacts on the world
economy.

As part of his broader attempts to renegotiate U.S. international trade deals, President Trump
has threatened to withdraw from the WTO, calling it a “disaster.” A U.S. withdrawal from the
WTO could disrupt trillions of dollars in global trade.

Source: World Trade Organization. Retrieved from [Link]

The Organization for Economic and Development (OECD), the Organization of Petroleum
Exporting Countries (OPEC) and the European Union (EU).

Organization for Economic and Development

OECD is an intergovernmental economic organization established in 1961 to promote economic
growth and world trade specifically to its 37 member countries. The members are united by a
common principle of democracy and market economy. Members of this organization are high-
income countries with high Human Development Index (HDI). In other words, they are
developed countries ([Link]).
Although the member countries come from rich regions, the organization’s mission is to
promote policies that will improve the economic and social well-being of people around the
world. Also, poverty alleviation and environmental protection are among the urgent issues of
this thin-tank group of countries that meet in order to formulate solutions to global issues.
Today, OECD takes pride in its collaborations with policymakers in coming up with sound
policies that extend beyond economic growth. Issues such as sustainable development, health,
skills, work-life balance and life satisfaction are part of a growing concern among member
groups and the use of new technologies helps hasten production processes while addressing
the well-being of the general people.
Organization of Petroleum Exporting Countries
Organization of Petroleum Exporting Countries (OPEC) was an intergovernmental organization
established at the Baghdad Conference on September 10-14, 1960 by Iran, Iraq, Kuwait, Saudi
Arabia and Venezuela. Its objective was to coordinate and unify petroleum policies among
Member Countries, in order to secure fair and stable prices for petroleum producers; an
efficient, economic and regular supply of petroleum to consuming nations; and a fair return on
capital to those investing in the industry ([Link]).
In the 1970s, OPEC gained international prominence when its member countries had a say in
crude oil prices globally and controlled domestic production. This created an oil cartel that
would limit competition by controlling the production and distribution of oil.
In 2016, OPEC formed partnership with non-OPEC countries, called OPEC+ (OPEC Plus), to
further control crude oil prices. OPEC+ controls over 50% of global oil supplies and about 90%
of proven oil reserves (Lioudis, 2020).
European Union
European Union (EU), is an international organization comprising 27 European countries and
governing, common economic, social and security policies (Gabel, nd). In the beginning, it was
confined to Western European countries but later included Eastern Europe in its scope.
EU was created by the Maastricht Treaty in 1993 that rallied for economic integration through a
single currency (euro) to solidify oneness, common citizenship rights and advancing
cooperation in the areas of immigration, asylum, and judicial affairs (Gabel, nd). In 2012, EU
was awarded the Nobel Price for Peace in recognition of the organization’s efforts to promote
peace and democracy in Europe.
The union’s objectives based on the Lisbon Treaty, Art. 3 TEU include:
 The promotion of peace and the well-being of the Union’s citizens
 An area of freedom, security and justice without internal frontiers
 Sustainable development based on balanced economic growth and social justice
 A social market economy – highly competitive and aiming at full employment and social
progress
 A free single market
Due to the increasing openness of market, EU countries are faced with competition that results
in lowering of commodity prices. However, competition puts pressure on local producers of a
EU firm resulting in lower wages of workers due to lowering of prices of goods. In some cases,
those in the employed sector are forced to accept lower wages rather than be unemployed.
Thus, factors of production that are capital-based should freely move within nations in order to
make up for labor reduction. These capital-intensive technologies, aside from their capacity to
replace labor, can intensify production of goods, knowledge and information as seen in today’s
proliferation of digital technologies.
Finally, it is incumbent upon EU nations to assert its central power as a trading bloc, united and
open so that neighboring countries do not attempt to undermine its power. It can also be a
leading source of Foreign Direct Investments (FDI) and can form alliance and partnership from
countries of the rest of the world.
Being a cartel, the 13 members of OPEC and 10 countries from non-OPEC group forming OPEC+
has a collective of agreement of controlling oil prices normally at high levels to ensure profit.
However, during the Covid-19 pandemic, oil prices collapsed and its allies agreed to historic
production cuts to stabilize prices, but they dropped to 20-year lows (Liuodis, 2020). As a
consequence, consumers incurred gains through reduced gasoline prices which ultimately lead
to cheaper airplane tickets. On the producer’s side, oil price reduction meant less oil
production, exploration leading workers to get retrenched as the downward trend of prices
slowed down search for oil.
However, it cannot be undermined that Covid-19 has twisted normal activities into the new
normal mode where restrictions on travel have been put to prevent the virus from running wild
which has been the case for the last 7 months since it was discovered in China.
Source: World Trade Organizations. Retrieved from [Link] .
ANSWER ALL QUESTIONS IN THE MODULE
1. Enumerate and discuss all the financial institutions mentioned here using YOUR OWN
WORDS only.
2. What are some new developments of the European Union today? (Research from the
Internet).
3. What are some recent news/developments of OPEC? (Look from various sources).
Reminder: You have to indicate all references after Question3.

III. History of Global Market Integration

A. The Agricultural Revolution and Industrial Revolution. In this section, you will learn
big economic revolutions that impacted the whole world: agriculture and industry based
revolutions. The first big economic change was the Agricultural Revolution (Pomeranz, 2000).
Hunting-gathering activities ended when people realize that food was getting scarce throughout
the passage of time so they learned to plant, domesticate animals and plants which created
surplus later resulting from increased supply. Agricultural societies came around as a result of
surplus production giving rise to trading, permanent settlement, growth of population. Families
had the advantage of labor surplus with members helping farm and domesticate animals. In
most cases, laborers were not really paid as everybody shared family income within the same
household.
Strengthening of agriculture paved the way for the rise of another economic revolution called
Industrial Revolution. During these times, family workers began working in factories receiving
wage labor. Manufacturing sector proved to be rewarding for workers with the invention of
steam engine, the wheel which dramatically increased production levels and improved
transportation. Roads and bridges were constructed and people increased trading of goods
from farm to market giving rise to urban centers.

Yet, you will realize that even with increased economic productivity, wage laborers began to
feel alienated in factories because of increased demand for work with meager salary that could
barely cope up with expenditures. Also, increasing disparity between low wage earners and
high positioned jobs paved the way for labor unions to surface out asking for better wages and
good working conditions in the workplace.
B. Capitalism and Socialism. Two economic models you need to understand have
shaped global economy. As an offshoot of Industrial Revolution, capitalism came about when
factories operated under the rule of profit maximization. By definition, capitalism is a system in
which all natural resources and means of production are privately owned (Aldama, 2018).
Private ownership is a condition where everyone has the right to own property without
being told by the government in the same manner that profit maximization posits that the goal
of every firm is earn profit at the maximum or potential. You must realize that profit will always
be realized if costs or expenditures are low. Therefore, a profit-maximizing firm will achieve
profit maximization only if it has the least cost incurred.
Corollary to the idea of private ownership is the concept of free enterprise which
encourages competition among business establishments without control from the government.
Firms do anything to increase output and profit otherwise they incur financial difficulties.
One of the pitfalls of capitalism that you must be familiar with is that the system of
capitalism has several flaws like work alienation, detrimental work conditions, welfare issues
and many other problems that arise from firms that are always glued to amassing profit
without consideration for employee satisfaction.
Another economic system that has different features with capitalism is socialism. In
socialism, there is no private ownership because the government or state owns all property.
Incidentally, profit maximization does not occur in socialism due to the fact that government
controls economic activities to prevent people from property acquisition and not indulge in
greed as a result of collective ownership.
You will also notice that in a socialist society, as all resources are owned by the
government, people are subservient to the state, they do not exercise freedom, something that
was enjoyed fully in capitalism.
C. Information Revolution. You are living in a time of information revolution. The
preponderance of technology around you, has given rise to information and knowledge
economy where the use of computers, the internet and other digital tools has been an
everyday phenomenon. In fact, technology is now considered a factor of production unlike
before where capital and labor were considered major factors of production.
As a consequence of computerization, several electronic activities have sprung up from
banking to education and online shopping using digital applications. With this, digital jobs have
been so popular while those in the conventional labor force that barely knew how to use the
computer lost their jobs. This, among many other issues, has been considered a major pitfall of
the information revolution. In addition, differences in internet accessibility has resulted in a
digital divide among those who had technological affordance and good accessibility against
those who could not access and considered the ‘have-nots’. The latter has been labeled
information-poor sectors because they did not access to digital ways of living, among others.
4. Compare and contrast Capitalism and Socialism in YOUR OWN words only.
5. Describe the economic transitions between the agricultural and industrial
revolutions.
6. What is information revolution all about?

INFORMATION ECONOMICS and KNOWLEDGE ECONOMICS

This section will take you to two major topics that derived from information revolution:
information economics and knowledge economics.
Information economics is the study of how different degrees of information affect economic
analysis ([Link]). When it was conceived as a neoclassical theory, it was under the
assumptions of perfect information and uncertainty. In market analysis, it was construed before
that market always clear or had the ability to clear itself, called equilibrium, without any
intervention. This idea has been contested by many economists arguing that market will have
imperfections, failures that are not factored out like externalities such as pollution, disease as
social costs transferred to the society for production processes.
In many ways, imperfect information or the incapacity to hold valuable information has led
economists to make gross errors inherent in economic activities. An example that illustrates
imperfect information is articulated in Game Theory where an individual trying to win against
his or her opponent will be met with challenges as available information on opponent’s
strategies, moves, characteristics may not be available, hence, such imperfect information leads
to error judgements and miscalculations. This concept is explained in asymmetric
information implying that some will have more information while others will not have as much.
This information asymmetry is well-pronounced in a highly digitized world where companies try
to extract information from consumers as they surf the internet. For example, online ticket
pricing might present different prices for different consumers depending on time of booking,
company’s extraction of consumer’s profile and such. In another instance, a faculty member
publishes an article in a peer-reviewed journal will have his or her intellectual capital rights
surrendered to the institution who owns the intellectual product –research, journal article
among others. Even more staggering can occur when such valued information is sold by the
journal company to others eventually enriching themselves at the expense of the author. Fame
and job tenure seem to be the argument for such continued affliction. This is a monopolistic
power enjoyed by many information industries simply because they have advantage of owning
information, the power of asymmetric information that works on their behalf for the most part.
But this not to say that information economics will always lure profits away from achieving
society’s balance. Profusion of information nowadays as a consequence of Information Society
that has put many production levels geared towards information tools, economic analysis is
more robust in information search. Google search engines are good examples of how massive
information library in the internet has eased economic activities giving rise to e-commerce,
online learning, internet banking and such. The level of economics awareness is far greater with
information tools and processes available.

Finally, knowledge economics puts emphasis on knowledge being a “non-rival good” meaning it
can be shared infinitely, and thus, it is the only thing that could grow in per-capita terms
(Hidalgo, 2018). One implication for such phrase is that knowledge has no price as one product
would normally have. Knowledge is not sold in the market with a price but truthfully economic
analysis suggests that countries with greater knowledge stock are far richer than those with
little knowledge. Economic growth theories emphasize high utilization of factor endowments
most especially with capital and technological progress that increase investment opportunities.
There is a question that can be raised in such assumption – is knowledge explicitly stated as a
factor in economic growth? If technological progress assumes increase in technology, it must
assume knowledge accumulation that has led such technological evolution. This is where
investment in education becomes so important.

Both information economics and knowledge economics have important roles in achieving
economic growth and development. One affects the other as both require inputs of information
and knowledge in battling imperfect information that hounds societies. Such imperfect
information is being studied with a sense of precision and certainty that characterize economic
forecasts, models, theorems and other economic phenomena. Economics as a social science
follows rigorous mathematics and scientific method to equip individuals with robust
information and knowledge for various use.

7. Discuss briefly the relationship between information economics and knowledge

economics.

EDUCATION AND GLOBALIZATION

Relationship Between Globalization and Education

Globalization And Education

Globalization means to increase the working or efficiency of a country’s economy and its
society at a high level. It is to increase the likeness or reputation of the one country to over
all countries in the world. Globalization is very much beneficial and efficient for the countries
in terms of increasing their working efficiency of the overall economy of their country. The
globalized countries get more fame and benefits of having positive relationships with other
countries and meet the best efficiency on demand. The globalization performs the best in terms
of increasing the efficiency of the country.

Education is that important factor without which countries even a single person cannot survive
and get success. The most important factor is that education tells a person how efficiently
and beneficially he or she can manage its life to live happily and with the best outcome in
terms of having success. The education teachers the person that what is right and what is wrong.
Which things person should think or choose and what about not. Education is something that
leads you to the right path because education teaches you about life aspects that ho3w must face
that situation and how that situation will accompany you if you face it n good way. (Jackson,
2016)

Globalization is actually a method of increasing the working efficiency of one country in

terms of having a positive impact on other countries. Globalization provides you with the
ways in which you can increase your reputation in a positive way into the eyes of other countries
as well as they are going to manage the working of the country at a high level as the other
countries would know about you because of globalization. As a matter of fact, when countries
get themselves globalize they get the best place into the overall world because they became
known by the most of the countries in the world.

Globalization in education is a very beneficial and important step as it takes your

education level at a high place. Education needs to be given to every person in the country, as
it is the right of every citizen of the country that he or she should provide by the best form of
education. The education is the fact that should be accepted according to its true needs and wants
with which it should be accepted well. Education when globalized it increases the level of
education as well as it enhances the education system of that specific country because it
improves the education system and brings revolutionary changes in the education system of the
globalized country. ([Link], 2018)

The country which gets themselves globalized will get the most unique and different way of
teaching to the kids from unique teaching technique learned by the foreign teachers and
instructors. They will guide you about the unique and efficient way of teaching to the kids that
they will involve more in the teaching and they will feel study as fun. Sometimes it happens that
students do not give efficient results as well as they do not want to study more due to some
infinite reasons which make their teaching efficiency low. This is a bad sign for a country that
leads to the failure of their education system. As well as that leads to the deficiency of the rate of
educated children or elders in their country.

When teachers do not introduce the new way of learning’s for the kids then those kids do not pay
proper attention towards their students then children do not want to get an education anymore
from you as well. The way of teaching of the teachers towards kids is always very much positive
as well as it should also be very much unique so that it will attract themselves towards the study
more and they do not find it a burden. They must like to study and they should get motivated by
the way, you teach them so that they will get the best success in the overall criteria of life. The
globalization affects very much positively on the teaching efficiency of the kids towards their
studies as well as towards the education scale of the country. The more you introduce an
innovative and unique way of teachings to the kids the more efficiency you will have in your
education system. (Misra, 2011)

The globalization influences the education with unique topics of research with them. In
fact, it provides a bulk of information for the teacher to get themselves learned from it as well as
they will get the best out of it if they have the right form of study criteria in their teachings. The
criteria of teaching are the actual form of working that needs to be done with a lot of consistency
and efficiency because of the increase of education level based on the teaching system of your
education centres. The more you have efficient teaching system in your institutions the more
efficiently you will have your teaching scale increased and your education system depends very
much on the improved methods of your teaching to the children of your country.

The actual thing is that globalization provides you from the ways that enhance your education
efficiency as well as that increases the working criteria of you in your teaching places like school
colleges, universities. Every level of education requires being conducted in a different way you
cannot teach school level kid by the method of teaching college level kids even you cannot teach
college level kid by the style you teach to the school level kid. Both level kids have different
mindsets, which needs to be understood first in order to teach them well and in order to take the
best results in the education sector. The overall scenario uses to say that education is the most
superiority in a country that needs to be focused very keenly in order to get a high rate of
success in your living country. (Stewart, 2018).

ASSESSMENT:
Short Essay

In 250 words, explain the relationship between education and globalization.

SUBMIT ALL PARTS OF THE MODULE IN 1SUBMISSION ONLY.

References
[Link]. (2018). Globalization of Education – Globalization Theory, The
Role of Education. Retrieved from
[Link]

Jackson, L. (2016, October). Globalization and Education. Retrieved from

[Link]
acrefore-9780190264093-e-52

Misra, S. (2011, April 2). Implications of Globalization on Education. Retrieved from

[Link]
Stewart, V. (2018). Globalization and Education. Retrieved from
[Link]
[Link]