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Economics - Chapter 21 & 22

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Iain Loch

on 8 August 2014

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Transcript of Economics - Chapter 21 & 22

photo credit Nasa / Goddard Space Flight Center / Reto Stöckli Chapter 21:
The Global Economy Do countries depend on each other today? Section 1 - Reasons for and Results of Global Integration Read as a class Section 2 Issues in Cybernomics Section 3 Beyond Multinationals Section 3 -
Multinationals & Economic Competition Section 1 - Growth of E-Commerce
Read as a class Chapter 22 - Page 362
Cybernomics Telecommunications Section 2 -
A New Economy How do they communicate? Global Integration Telecommunication How did they communicate before this? What about financial markets, are they global? Ensuring safe internet trade Day Trading -
buying and selling of securities on the same day. Protecting Consumer Privacy Developing Nations Distance Learning Multinationals Look at the table on page 361 Firms are actually forming alliances This began a new age The Information age new terms are springing up to describe economic changes Knowledge economy - economy where information is the key to growth
Weightless Economy - based on things you cannot touch. (not tangible) What is innovation? Concluded that each new cycle starts when a set of innovations comes into general use stimulating investment and expansion Joseph Schumpeter
The first economist to suggest that a normal healthy economy would never be in equilibrium. Why? Entrepreneurs would sometimes disrupt it by innovations.
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