Global Economic Issues and Policies Impacting Rural Sociology (Module ELT Approach): Understanding the Role of Global Economy in Community Mobilization for Sustainable Growth

Global Economic Issues and Policies Impacting Rural Sociology (Module ELT Approach): Understanding the Role of Global Economy in Community Mobilization for Sustainable Growth

Marites Maria Theresa Barit Galing-Argonza (Isabela State University, Philippines & Canadian University Dubai, UAE & Emirates Aviation University, UAE)
DOI: 10.4018/978-1-5225-7158-2.ch020

Abstract

This chapter provides an experiential learning technique (ELT) teaching strategy for instructors and their undergraduate students in international trade law. It is hoped that the chapter's overall topic shall be elucidated further with the application of the Bloom's taxonomy of learning methodology. The significance and impact of experiential learning technique (ELT) can be best achieved when there is actual immersion on the subject matter through the direct participation of both teacher and learner. The classroom, whether or not specifically designed for either a natural or pure science laboratory or the broad discipline of social science lectures, can become a reservoir of experiential learning technique through the application of doable classroom exercises (DCE) and actionable learning outcomes (ALO) as will be discussed in this chapter.
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Introduction

This chapter provides an experiential learning technique (ELT) teaching strategy for instructors and their undergraduate students in international trade laws. It is hoped that the chapter’s overall topic shall be elucidated further with the application of the Bloom’s Taxonomy of learning methodology.

The significance and impact of Experiential Learning Technique (ELT) can be best achieved when there is actual immersion on the subject matter through the direct participation of both teacher and learner. In the classroom, whether or not specifically designed for either a natural or pure science laboratory or the broad discipline of social science lectures, can become a reservoir of experiential learning technique through the application of doable classroom exercises (DCE) and actionable learning outcomes (ALO) as it will be discussed in this chapter.

Background

Rural fundamentalists point out that globalization is the root cause of countless social injustices in the rural remotest areas of our globalized world. Their contentions signify that cheap labor and the distribution of global and domestic financial resources most specifically income are resulting more inequitable among stakeholders of the entire global economy most especially rural areas. This chapter presents international economic issues and policies by addressing questions on “what is globalization?” “how important are the international capital markets towards community mobilization and sustainable growth?”

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Main Focus Of The Chapter1: Understanding The Role Of Global Economy In Community Mobilization For Sustainable Growth

Issues, Controversies, Problems

Community Mobilization of its overall resources may be considered as the bedrock of sustainable growth of the community itself. This means that the sum total of all raw and manufactured resources come from community mobilization of its resources.

Daniels and vanHoose (2004) have remarked on the importance of global market for goods and services that “during the past several years, global trade in goods and services had increased vigorously from 1979” which means that the expansion of the global market resulted from the increased production by way of community mobilization efforts, while the importance of the international monetary and financial markets have significantly shown impressive outcomes, greatly measured in terms of oil production and consumption in the whole global economy. Foreign direct investment clearly shows that among the leading industrialized nations and private capital flows specifically in community mobilization efforts of leading industrialized nations and private capital flows to emerging and developed nations have continuously grown notwithstanding unprecedented recessions and obviously resulting to severe financial and economic crises.

Lecture Topics and Objective:

At the end of this chapter, the students shall be able to:

  • 1.

    Understand trade policy and distinguish with international economic law

  • 2.

    Evaluate the body of rules for transnational trade in the 21st century and medieval commercial laws lex mercatoria and lex maritima

  • 3.

    Analyze Marrakesh Agreement, WTO, GATT on two aspects:

    • a.

      The importance of the International Monetary and Financial Markets

    • b.

      The importance of the Global Market for Goods and Services

  • 4.

    Create an essay at least 2000 words regarding trade in goods, intellectual property rights and cross-border transactions.

  • 5.

    Apply global economic policy and issues in understanding rural change, deployment of development strategies in the context of the new rural economy.

  • 6.

    Organize a project proposal focusing on pressing issues of rural sociology and community mobilization for sustainable growth.

Table 1 shows that countries with small land area are also the more advanced economies and most globalized countries at the same time.

Table 1.
The top 20 globalized nations believed to have utilized community or rural mobilization efforts for sustainable growth
1Ireland
2Switzerland
3Singapore
4Netherlands
5Sweden
6Finland
7Canada
8Denmark
9Austria
10UK
11Norway
12USA
13France
14Germany
15Portugal
16Czech Republic
17Spain
18Israel
19New Zealand
20Malaysia

Source: Foreign Policy http://www.foreignpolicy.com

Key Terms in this Chapter

Globalization: The increasing interconnectedness of peoples and societies and the interdependence of economies, governments, and environments.

WTO: World Trade Organization is a multinational organization that oversees multilateral trade negotiations and adjudicates trade disputes that arise under multilateral trade agreements formed under GATT and the GATS (refers to the international agreement among more than 130 nations about rules under which services are traded internationally).

GATT: General agreement on tariffs and trade is an international agreement among more than 140 nations about rules under which services are traded internationally.

Gross Domestic Product (GDP): The value, tabulated using market prices, of all final goods and services produced within a country’s borders during a given period.

Global Public Good: A good or service that yields benefits to a number of the world’s people simultaneously, cannot provide benefits to one person without others around the world deriving benefits at no additional cost, and cannot be withheld from a person who has failed to contribute to its provision.

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