This week’s topics
Drivers of globalisation: alliances, push/pull and demand/supply-side factors
- Starting point: demand, supply and the equilibrium price
- Economic alliances
- Political alliances
- Factors and drivers of Globalisation (Push/Pull factors, Demand/Supply-side factors)
What you will be able to do
- 2.3 Discuss key global issues which drive globalisation.
Activity
Start with this week’s 3 videos, then discuss how they apply to this week’s topic and note one example from a real business.
Study materials
Videos
- The Demand Curve · YouTube · Marginal Revolution University · 4 min · for registered students
- The Supply Curve · YouTube · Marginal Revolution University · 3 min · for registered students
- The Equilibrium Price and Quantity · YouTube · Marginal Revolution University · 5 min · for registered students
Further resources
- Principles of Economics 3e, ch. 3.1–3.2: Demand, supply and what shifts them · PDF · OpenStax (2022), sections 3.1–3.2 on the laws of demand and supply and their determinants; pp. 48–63 · for registered students
- Principles of Economics 3e, ch. 3.3: Changes in equilibrium – the four-step process · PDF · OpenStax (2022), section 3.3 on finding the new equilibrium after demand or supply shifts; pp. 64–69 · for registered students
- Introduction to Business 2e, ch. 3.4–3.5: Fostering global trade; economic communities · PDF · OpenStax (2026), WTO, IMF, World Bank and trade blocs; pp. 86–91 · for registered students
- Marshallian Cross Diagrams and Their Uses before Alfred Marshall · Open-access article · Humphrey (1992), Federal Reserve Bank of Richmond Economic Review. A readable history of how the supply-and-demand diagram was invented and first used. · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
