Globalisation and International Markets
Students examine the drivers of globalisation and the reasons why businesses target international markets.
TL;DR:Globalisation is the process of increased integration and interdependence between national economies. In this topic, students examine the drivers of this trend, such as containerisation, trade liberalisation, and the rise of the internet. They evaluate why UK businesses seek to expand into international markets, to find new customers, access cheaper resources, or achieve greater economies of scale.
About This Topic
Globalisation is the process of increased integration and interdependence between national economies. In this topic, students examine the drivers of this trend, such as containerisation, trade liberalisation, and the rise of the internet. They evaluate why UK businesses seek to expand into international markets, to find new customers, access cheaper resources, or achieve greater economies of scale.
This unit also covers the complexities of operating across borders, including exchange rate risks and cultural differences. Students must understand that globalisation is not a uniform process; it creates winners and losers. This topic comes alive when students can physically model the patterns of global trade by simulating a 'Global Trade Fair' where they must navigate different currencies and trade barriers.
Key Questions
- What factors have contributed to the rise of globalisation?
- Why do businesses seek to operate in international markets?
- How do exchange rate fluctuations affect international competitiveness?
Watch Out for These Misconceptions
Common MisconceptionGlobalisation is a brand new phenomenon.
What to Teach Instead
Global trade has existed for centuries. What is new is the *speed* and *scale* of integration due to technology. Using historical timelines of the British Empire helps students see the long-term evolution of global trade.
Common MisconceptionA weak pound is always bad for UK businesses.
What to Teach Instead
A weak pound makes UK exports cheaper and more competitive abroad, though it makes imports more expensive. Peer-calculating the impact on an exporter vs. an importer helps clarify this 'SPICED' concept.
Active Learning Ideas
See all activities→Simulation Game
The Global Trade Fair
Assign each group a country with different resources and 'trade barriers.' They must negotiate deals to manufacture and sell a product, experiencing first-hand the impact of tariffs and exchange rate shifts.
Think-Pair-Share
The 'Made in' Challenge
Students look at the labels on their own clothes or tech. In pairs, they map out the likely global journey of that product, from raw materials to final assembly, identifying why each stage happens in a different country.
Formal Debate
Globalisation - Boon or Bane?
One side argues that globalisation has lifted millions out of poverty; the other argues it has led to the exploitation of workers and environmental damage. They must use specific UK and global examples.