GEN005 The Contemporary World PDF

GEN005: The Contemporary World RREVUEWER has led to shifts in traditional values and norms, influencing the evolving Filipino identity. MODULE 1: THE CONTEMPORARY PHILI...

GEN005: The Contemporary World RREVUEWER has led to shifts in traditional values and norms, influencing the evolving Filipino identity. MODULE 1: THE CONTEMPORARY PHILIPPINE SOCIETY  Geographical Influences -This has contributed to the blending of indigenous, Malay, Chinese, and other  The integration of diverse cultural influences from cultural influences in shaping Filipino identity. colonization and globalization influenced the cultural identity of contemporary Philippine society. MODULE 2: INTRODUCTION TO GLOBALIZATION  Spanish colonization introduced Catholicism, Spanish language, and Hispanic cultural elements.  Globalization means the world is becoming more connected. People’s lives are linked to those in other  American colonization brought Western education, countries in many ways. democracy, and English language.  Traveling to new places and hosting students from  The Philippines would likely have remained a Spanish other countries is an example of Cultural Exchange. colony for a longer period, delaying the emergence of a national identity if Philippine Revolution did not  Technology made it easier to talk to people from happen. anywhere.  World War II and Japanese Occupation (1941-1945) -  Social media, video calls, and online teamwork tools The Philippines became a major theater of World War are some tools that help us connect globally. II, with Japanese forces invading and occupying the country from 1942 to 1945.  Being involved in solving these problems is another way people feel connected globally. By taking part in  The declaration of Martial Law by President Ferdinand projects that address these issues, people help Marcos in 1972 marked a period of authoritarian rule improve life for everyone. This can mean joining characterized by political repression, censorship, and efforts to protect the environment, fighting for human human rights abuses. rights, supporting global development, or volunteering. Working on global problems shows we care about  The People Power Revolution of 1986, also known as others and want a fairer world. the EDSA Revolution, was a peaceful uprising that brought about the downfall of the Marcos dictatorship  Climate Change is an example of a big global problem and restored democracy in the Philippines. that requires global cooperation?  Cultural Diversity - The Philippines is home to a  Neoliberalism: This idea supports free markets, less diverse array of ethno-linguistic groups, each with its government control, and personal freedom. own unique traditions, languages, and customs. This diversity, encompassing over 180 languages and a  Cultural Homogenization: This idea says globalization rich tapestry of cultural practices, contributes to the makes cultures more alike and can reduce cultural complexity of Filipino identity. diversity.This can make local cultures and traditions disappear. Some people like global brands because  Globalization and Modernization - Exposure to global they bring efficiency, but others worry about losing trends and influences, coupled with modernization, unique cultural identities. This document is the property of PHINMA EDUCATION  GEN005: The Contemporary World RREVUEWER  Technological Determinism: This idea says technology MODULE 4 GLOBAL ECONOMY shapes society and drives globalization. Advances in technology, like smartphones and the internet, make  Global Economy Back in 1974, Immanuel Wallerstein global connections faster and change how we interact. published a groundbreaking book that has become a Some believe technology makes us more efficient and key reference point for understanding globalization. connected, but others worry about addiction and His theory, called world-system theory, challenged the privacy issues. traditional view of colonization. The traditional view of colonization often focuses on a single powerful MODULE 3 FORMS OF GLOBALIZATION country (the colonizer) taking control of a less powerful territory (the colony). Wallerstein proposes a bigger  Cultural Globalization - refers to the phenomenon picture. He proposed that the world economy is where cultural practices, values, and norms are divided into two main areas: the core (strong countries shared and exchanged across national borders, with strong economies and a lot of control) and the leading to greater interconnectedness and sometimes periphery (less developed countries that often provide homogenization of cultures. raw materials for the core). There's also a middle ground called the semi-periphery, which might process  Political Globalization - establishment of United or distribute these resources. Nations.  Actors that Facilitate Economic Globalization  Technological Globalization - This refers to the world’s through technology. This includes developing,  International Monetary Fund (IMF) - The International spreading, and using technologies across international Monetary Fund (IMF) is an organization that helps borders. countries maintain economic stability and growth.  Economic Globalization - refers to the increasing  International Financial Institutions (IFIs) - International integration and interdependence of national Financial Institutions (IFIs) include organizations like economies worldwide. Multinational Corporations the World Bank and the Asian Development Bank (MNCs) Apple designs its products in the United (ADB). They provide financial help for big projects, States but manufactures them in various countries, such as building roads and bridges, and offer advice including China and India, using components on economic policies. worldwide. This global supply chain and production network illustrate how MNCs operate across multiple  Transnational Corporations (TNCs) - Transnational countries, leveraging cost efficiencies and accessing Corporations (TNCs) are big companies that operate different markets and resources. in multiple countries. They invest in local economies, create jobs, and bring new technologies and skills.  Environmental Globalization - This refers to the interconnectedness of environmental issues on a  Global Civil Society - Global Civil Society includes global scale, where environmental problems transcend non-governmental organizations (NGOs), social national borders and require collaborative efforts to movements, and individuals working together across address effectively. The Rise of Electric Vehicles borders to address global issues and advocate for (EVs) human rights and social justice. This document is the property of PHINMA EDUCATION  GEN005: The Contemporary World RREVUEWER allocated through the interaction of households and firms in markets. Prices act as signals for the MODULE 5 PRINCIPLES OF ECONOMICS allocation of resources.  Principle #1: People face tradeoffs. To get one thing,  Principle #7: Governments can sometimes improve you have to give up something else. This principle market outcomes. When markets fail to allocate highlights the concept of opportunity cost, which is the resources efficiently (market failure), government value of the next best alternative foregone. intervention can improve outcomes. Examples include  Principle #2: The cost of something is what you give regulations to correct externalities or the provision of up to get it. This principle is closely related to the public goods. concept of opportunity cost. The true cost of an item is  Principle #8: A country’s standard of living depends on not just its monetary price but also what you sacrifice its ability to produce goods and services. The most to obtain it. Example: Attending College. A student important determinant of living standards is chooses to attend college, which requires tuition productivity, which is the quantity of goods and payments and time investment. The cost includes not services produced from each unit of labor input. only the tuition and fees but also the opportunity cost of not working full-time during those years.  Principle #9: Prices rise when the government prints too much money. Inflation is caused by an increase in  Principles #3: Rational people think at the margin. the quantity of money, which reduces the value of Rational individuals make decisions by comparing money. Example: Hyperinflation in Zimbabwe. In the marginal benefits and marginal costs. Decisions are late 2000s, Zimbabwe printed excessive amounts of made by evaluating the additional (marginal) benefit money to finance government spending.The excessive against the additional (marginal) cost. money supply led to hyperinflation, causing prices to  Principle #4: People respond to incentives. Behavior skyrocket and devalue the currency changes when costs or benefits change. Incentives  Principle #10: Society faces a short-run tradeoff are crucial for understanding how people make between inflation and unemployment. In the short run, decisions. reducing inflation often causes a temporary rise in  Principle #5: Trade can make everyone better off. unemployment. This trade-off is captured by the Trade allows people to specialize in what they do best Phillips curve. Example: Central Bank Policies. To and to enjoy a greater variety of goods and services. combat high unemployment, a central bank lowers Example: International Trade Agreements. Countries interest rates and increases the money supply.This enter trade agreements to exchange goods and stimulates economic activity and reduces services they produce efficiently for those they do unemployment in the short run but can lead to higher not.Specialization and trade allow countries to benefit inflation if the economy overheats. from a wider variety of goods and services at lower costs.  Principle #6: Markets are usually a good way to organize economic activity. In a market economy, decisions are decentralized, and resources are This document is the property of PHINMA EDUCATION