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PART 1: CÂU TỰ LUẬN LÝ THUYẾT

Chapter 1:

1. Globalization of markets: Refers to the merging of historically distinct and separate

national markets into one huge global marketplace
2. Globalization of production: Refers to the sourcing of goods and services from
locations around the global to take advantage of national differences in the cost and
quality of factors of production (land, energy, labor and capital)
3. Drivers of globalization:
Two macro factors underlie the trend toward greater globalization.
 The first is the decline in barriers to the free flow of goods, services, and capital
that has occurred since the end of World War II
(Nếu không nhớ hết thì viết ngắn gọn là: the declining trade and investment
barriers)
 The second factor is technological change, particularly the dramatic developments
in recent decades in communication, information processing, and transportation
technologies.
(Nếu không nhớ hết thì viết ngắn gọn là: the role of technological change)
4. Critics and supporters of globalization:

Critics Supporters
Jobs and income
Falling trade barries allow firms to move Countries will specialize what they do most
their manufacturing activities to efficiently and trade for other goods – and
countries where wages rates are much all countries will benefit.
lower. When country embraces free trade, there are
The enormous expansion of global labor always some dislocations but the whole
force, when coupled with expanding economy is better off as the result.
international trade, would have depressed
the wages in developed nations.

Labor forces and environment

Firms avoid the cost of adhering to labor Tougher labor and environmental standards
and environmental regulations by are associated with the economic progress.
moving their production to countries In general, as countries get richer, they
where those regulations do not exist, or enact tougher labor and environmental
are not enforced. regulations.
 National Sovereignty
Today’s increasingly interdependent The power of supranational organizations is
global economy shifts economic power limited to what nation-states collectively
away from national governments and agree to grant. The bodies such as the UN
toward supranational organizations and the WTO exist to serve the collective
-> thereby undermining the sovereignty interests of member-states, not to subvert
of those states and limiting the nation’s those interests.
ability to control its own destiny

World’s poor
If globalization was beneficial, there The best way for poor nations’ situation
there should not be a divergence between improvement is:
rich and poor nations  Reduce barriers to trade/investment
 Implement economic policies based
on free market economies
 Received debt forgiveness for debts
incurred under totalitarian regimes

Chapter 2:
1. Political economy: means how the politic, economic, and legal systems of a
country are interdependent, they interact and influence each other, and in doing so,
they affect the level of economic well-being in the nation
2. Individualism: refers to a philosophy that an individual should have freedom in
his own economic and political pursuits
3. Collectivism: refers to a political system that stressed the primacy of collective
goals over individual goals.
4. Democracy: refers to a political system in which government is by the people,
exercised either directly or through elected representatives.
5. Totalitarianism: a form of government in which one person or political party
exercises absolute control over all spheres of human life and prohibits opposing
political parties.
Four forms:
 Communist totalitarianism
 Theocratic totalitarianism: a nation ruled by religion (Ex: Some nations that follow
Islam)
 Tribal totalitarianism: a political party is a representative for a particular tribe
 Right-wing totalitarianism: permits some individual economic freedom but
restricts individual political freedom
6. Three economic systems:
 Market economy: An economic system in which the interaction of supply and
demand determines the quantity in which goods and services are produced.
 Command economy: An economic system where the allocation of resources,
including determination of what goods and services should be produced, and in
what quantity, is planned by the government
 Mixed economy: Certain sectors of the economy are left to private ownership and
free mechanisms while other sectors have significant state ownership and
government planning. Governments tend to own firms that are considered
important to national security.
7. Legal system: The rule that regulates behavior along with the processes by which
the laws are enforced and through which redress for grievances is obtained
8. Three legal systems:
 Common law: Based on tradition, precedent and custom
 Civil law: Based on detailed set of law organized into codes
 Theocratic law: Based on religious teachings.
10. Contract laws: the body of law that government contract enforcement
 Differences:

 CIGS: The CIGS establishes a uniform set of rules governing certain aspects of
the making and performance of everyday commercial contracts between sellers
and buyers who have their places of business in different nations.

11. Property rights: legal rights over the use to which a resource is put and over the
use made of any income that may be derived from that resource.
Property rights can be violated through:
 Private action: refers to theft, piracy, blackmail, and the like by private individuals
or groups.
 Public Action and Corruption: occurs when public officials, such as politicians and
government bureaucrats, extort income, resources, or the property itself from
property holders.
 12. Intellectual property rights: refers to property that is the product of intellectual
activity, such as computer software, a screenplay, or the chemical formula for a
new drug.
Can be protected using:
 Copyrights: the exclusive legal rights of authors, composers, playwrights, artists,
and publishers to publish and disperse their work as they see fit.
 Trademarks are designs and names, officially registered, by which merchants or
manufacturers designate and differentiate their products (e.g., Christian Dior
clothes).
 Patents: Exclusive rights for a defined period to the manufacture, use, or sale of
that invention

Chapter 3:
1. Các chỉ số tăng trưởng kinh tế (GDP/GNP/GNI/GNI per capita) và các chỉ số
phát triển kinh tế (HDI/GNI)
- Gross Dosmestic Product (GDP) is regarded as a yardstick for the
economic activity of a country; it measures the total monetary or market
value of all the finished goods and services produced within a country’s
borders in a specific time period.
- Gross national income (GNI) per person measures the total annual income
received by residents of a nation.
- Human Development Index (HDI) measure the quality of human life in
different nations. Based on three measures: life expectancy at birth;
educational attainment and whether average incomes.
- Purchasing power parity (PPP) gives us a more direct comparison of
living standards in different countries. The base for the adjustment is the
cost of living in the United States.
2. Engines of economics growth: There is substantial agreement among economists
that innovation and entrepreneurial activity are the engines of long-run economic
growth.
3. How political, economic, and legal systems promote innovation and
entrepreneurship ?
 Political system: It seems likely that democratic regimes are far more conducive
to long-term economic growth than are dictatorships, even benevolent ones
 Economic system: The advantages of a market economy. The economic freedom
associated with a market economy creates greater incentives for innovation and
entrepreneurship than either a planned or a mixed economy. In a market economy,
any individual who has an innovative idea is free to try to make money out of that
idea by starting a business. Similarly, existing businesses are free to improve their
operations through innovation.
 Legal system: Strong legal protection of property rights. Both individuals and
businesses must be given the opportunity to profit from innovative ideas. Without
 strong property rights protection, businesses and individuals run the risk that the
profits from their innovative efforts will be expropriated, either by criminal
elements or by the state

Chapter 4:
1. Culture: A system of values and norms that are shared among a group of people
and that when taken together constitute a design for living.
 Value: abstract ideas about what a group believes to be good, right, and desirable.
 Norms: The social rules and guidelines that prescribe appropriate behavior in
particular situations:
> Folkways: the routine convention of everyday life
> Mores: are seen as central to the functioning of a society and to its social life.
 Mores > Folkways
2. Determinants of culture

3. Social structure: refers to its basic social organization, and this social
organization is both emergent from and determinant of the behaviors of individual:
 The first is the degree to which the basic unit of a social organization is the
individual, as opposed to the group.
 The second is the degree to which a society is stratified into classes or castes.
4. Social stratification: All societies are stratified on a hierarchical basis into social
categories—that is, into social strata. Individuals are born into a particular stratum.
 Must consider:
 Mobility between strata
 The significance placed on social strata in business contexts
5. Social mobility: the extent to which individuals can move out of the strata into
which they are born
 A caste system: a closed system of stratification in which social position is
determined by the family into which a person is born, and change in that position
is usually not possible during an individual’s lifetime.
 A class system: form of open social stratification position a person has by birth
can be changed through achievement or luck.
 6. Class consciousness: a condition by which people tend to perceive themselves in
terms of their class background, and this shapes their relationships with members
of other classes

8. Religion and Ideology:

8.1. Christianity:
 Christianity is the most widely practiced religion in the world.
 Weber theorized that there was a relationship between Protestantism and the
emergence of modern capitalism
 Protestant ethics emphasizes:
 The importance of hard work and wealth creation (for the glory of God) and
frugality (abstinence from worldly pleasures)
-> Facilitating the development of capitalism
-> Accumulating wealth for investing in the expansion of capitalist enterprises
-> By breaking away the hierarchical domination of religious and social life,
Protestantism gave individuals significantly more freedom to develop their own
relationship with God.

8.2. Islam:
 With about 1.65 billion adherents, Islam is the second largest of the world’s major
religions
 The central principle of Islam is that there is one true omnipotent God (Allah).
Islam requires unconditional acceptance of the uniqueness, power, and authority of
God and the understanding that the objective of life is to fulfill the dictates of His
will in the hope of admission to paradise. According to Islam, worldly gain and
temporal power are an illusion
 Other major principles of Islam include (1) honoring and respecting parents, (2)
respecting the rights of others, (3) being generous but not a squanderer, (4)
avoiding killing except for justifiable causes, (5) not committing adultery, (6)
dealing justly and equitably with others, (7) being of pure heart and mind, (8)
safeguarding the possessions of orphans, and (9) being humble and unpretentious

8.3. Hinduism
 The world’s oldest major religion
 Hindus believe that a moral force in society requires the acceptance of certain
responsibilities, called dharma
 Hindus believe in reincarnation, or rebirth into a different body, after death.
 Hindus also believe in karma, the spiritual progression of each person’s soul.
 By perfecting the soul in each new life, Hindus believe that an individual can
eventually achieve nirvana, a state of complete spiritual perfection that renders
reincarnation no longer necessary
-> Way to achieve nirvana is to lead a severe ascetic lifestyle of material and
physical self-denial, devoting life to a spiritual rather than material quest.
8.4. Buddhism
 Suffering originates in people’s desires for pleasure. Cessation of suffering can be
achieved by following a path for transformation.
 Siddhartha offered the Noble Eightfold Path as a route for transformation. This
emphasizes right seeing, thinking, speech, action, living, effort, mindfulness, and
meditation

8.5. Confucianism (Ra rồi :)) chắc kh ra lại nữa mô)

PART 2: GIẢI CASE

CHAPTER-6.docx
CHAPTER-7.docx
CHAPTER-8.docx