This week’s topics
How globalisation has evolved: from the first wave to Globalisation 5.0
- First, second and third waves
- Globalisation 4.0/Globalisation 5.0
What you will be able to do
- 1.1 Explain how globalisation has evolved.
Activity
Start with this week’s 2 videos, then discuss how they apply to this week’s topic and note one example from a real business.
Study materials
Videos
- Avengers: The Story of Globalization (episode 1) · YouTube · Marginal Revolution University · 11 min · for registered students
- Trade: The Engine of Specialization, Productivity, and Growth · YouTube · Marginal Revolution University · 8 min · for registered students
Further resources
- Introduction to Business 2e, ch. 3.1–3.2: Global trade and why nations trade · PDF · OpenStax (2026), sections 3.1–3.2 on the drivers of international trade and absolute/comparative advantage; pp. 79–83 · for registered students
- World Trade Report 2023, Executive summary: re-globalization · PDF · WTO World Trade Report 2023 – a step up – on how globalisation is changing and why it still matters; pp. 8–15 · for registered students
- Transportation Costs and International Trade in the Second Era of Globalization · Open-access article · Hummels (2007), Journal of Economic Perspectives. How cheaper, faster shipping (sea and air) helped drive post-war trade growth. · for registered students
- Supply-Chain Trade: A Portrait of Global Patterns and Several Testable Hypotheses · Open-access article · Baldwin and Lopez-Gonzalez (2015), The World Economy. Maps how production is split across 'Factory Asia', 'Factory Europe' and 'Factory North America'. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
