Unit 3

Jim’s Guide Unit 3: Globalization and the Developing World

This page describes the activities and graded work you need to complete for Unit 3. See the schedule for the due date.

What you need to do:

  1. Readings:
    1. Read this Jim’s Guide Unit 3:  Culture and The Emerging/Developing Markets – all pages:
    2. Read Intro, Part III of the Angus Maddison book (pages 55-66)
  2. Video: View all chapters of Episode 2 The Agony of Reform, in the Commanding Heights series.  See Unit 2 – The Commanding Heights Video Series for links and instructions on how to view the videos.
  3. Video: View the video “Billions of Entrepreneurs” by Tarun Khana.  See the videos page for details.
  4. Post a comment to at least one of the Discussion posts labeled “Unit 3 Discussion.”  Points are awarded – this is a required assignment.
  5. Begin thinking about about which two books you will review for your “book reviews assignment”.  See the Book List for more info. Though technically not required by this due date, you would be well-advised to actually acquire and at least begin reading at least your first.  Failing to choose at least one book by the Unit 4 due date will seriously put you behind and make things difficult.
  6. Take the Unit 3 quiz in Desire2Learn.  Remember, you get two attempts.  The last page of this Unit 3 Jim’s Guide lists some study tips and topics for the quiz. This is a graded, required assignment.  Quiz 3 is worth 45 points. Topics and a study guide for the quiz is provided on the last page of this Unit’s Jim’s Guide. You are allowed 2 attempts at quiz 3. Your highest score of the two attempts will count toward your grade. As soon as you open and view the quiz it counts as an “attempt”. Attempts are not timed and you may save your work and continue it later.

Objectives for Unit 3 – Ideology & The First World

Terms and Concepts

While reading, you are looking to understand the meaning of the following new terms and concepts:

Terms of Economics

  • Emerging market nations
  • Newly industrialized nations
  • Permit Raj
  • G6, G7, G8, G20
  • Asian Tigers
  • BRIC

Key Concepts:

  • Institutions and culture as affecting how a nation transitions to industrialized, developed status
  • Shock therapy
  • Dependency theory and import substitution theory
  • Advantages that emerging markets have
  • Challenges that emerging markets face
  • Uniqueness of each nation’s situation
  • Modern 3-tier classification of nations as developed, emerging, or less-developed
  • How the modern classification evolved from the older free world / communist bloc / non-aligned
  • Human costs of transitions in economic systems

Definitions/meanings of key statistics

  • Use of GDP per capita income to classify nations

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