- 1 Assignment – I
- 2 Answer the following in about 500 words each.
- 3 1. Explain different theoretical approaches of globalisation.
- 4 2. Describe the functions and impacts of MNC and TNC in the process of globalisation.
- 5 Assignment – II
- 6 Answer the following questions in about 250 words each.
- 7 1. Examine the role and the functions of International Monetary Fund (IMF).
- 8 2. Ideology of neoliberalism.
- 9 3. How does globalisation affect the states jurisdiction?
- 10 Assignment – III
- 11 Answer the following questions in about 100 words each.
- 12 1. Examine the phenomenon of merger and acquisition (M&M) in the global economy.
- 13 2. Examine the organisational structure of World Bank.
- 14 3. Digital Globalisation
- 15 4. IBRD
- 16 5. Impacts of Globalisation on Cultures
|Title||BPSC-110: IGNOU BAG Solved Assignment 2022-2023|
|Degree||Bachelor Degree Programme|
|Course Name||GLOBAL POLITICS|
|Programme Name||Bachelor of Arts (General)|
|Last Date for Submission of Assignment:||For June Examination: 31st April|
For December Examination: 30th September
Assignment – I
Answer the following in about 500 words each.
1. Explain different theoretical approaches of globalisation.
Ans: Globalization is a multifaceted phenomenon that has a profound impact on different aspects of our lives, including economics, politics, culture, and society. There are various theoretical approaches to understanding globalization, which provide different perspectives and insights into this complex phenomenon. In this essay, we will discuss three main theoretical approaches to globalization, including neoliberalism, institutionalism, and world-system theory.
Neoliberalism is a dominant theoretical approach to globalization that emphasizes the role of free markets, liberalization, and privatization in promoting economic growth and development. According to neoliberalism, globalization is driven by market forces that lead to increased competition, efficiency, and innovation. Neoliberalism argues that globalization benefits all nations by increasing trade, creating jobs, and reducing poverty. However, critics of neoliberalism argue that it has led to greater inequality, environmental degradation, and social instability.
Institutionalism is another theoretical approach to globalization that emphasizes the role of international institutions in shaping global economic and political relations. Institutionalists argue that globalization is not just a product of market forces but is also shaped by formal and informal rules, norms, and institutions. According to institutionalism, international institutions such as the World Trade Organization (WTO) and the International Monetary Fund (IMF) play a critical role in regulating global economic relations and promoting cooperation among nations. However, critics of institutionalism argue that these institutions often serve the interests of powerful nations and corporations, rather than promoting the common good.
World-system theory is a critical theoretical approach to globalization that emphasizes the role of capitalist expansion and imperialism in creating a global system of economic and political relations. According to world-system theory, globalization is not a recent phenomenon but is part of a long historical process that has created a global system of inequality and exploitation. World-system theorists argue that the world is divided into a core, periphery, and semi-periphery, with the core nations dominating the global economy and exploiting the resources and labor of peripheral and semi-peripheral nations. Critics of world-system theory argue that it oversimplifies global economic relations and neglects the agency of peripheral and semi-peripheral nations in shaping their own economic and political futures.
2. Describe the functions and impacts of MNC and TNC in the process of globalisation.
Ans: Multinational corporations (MNCs) and transnational corporations (TNCs) are key players in the process of globalization. They are business entities that operate in multiple countries and contribute to the integration of national economies into a global economy.
- MNCs and TNCs facilitate the transfer of goods, services, capital, and technology across borders, enabling them to take advantage of different resources and market conditions in different countries.
- They also play a significant role in the creation of jobs and economic development in the countries where they operate.
- MNCs and TNCs are also involved in research and development, which can lead to technological advancements and innovation in various industries.
- MNCs and TNCs have the potential to increase economic growth and raise living standards in the countries where they operate by providing employment opportunities and contributing to technological advancement and innovation.
- However, they can also have negative impacts, such as exploiting low-wage labor, contributing to environmental degradation, and exacerbating income inequality.
- MNCs and TNCs can also have significant political power, which can influence government policies and regulations.
Overall, MNCs and TNCs are complex entities that can have both positive and negative impacts on the process of globalization and on the countries where they operate.
Assignment – II
Answer the following questions in about 250 words each.
1. Examine the role and the functions of International Monetary Fund (IMF).
Ans: The International Monetary Fund (IMF) is an international organization that was established in 1944 with the aim of promoting international monetary cooperation and exchange rate stability, facilitating balanced growth of international trade, and providing resources to member countries in need of financial assistance. The IMF has 190 member countries, and its headquarters is located in Washington, D.C.
The primary role of the IMF is to oversee the international monetary system and provide financial assistance to member countries that experience balance of payments problems, such as a shortage of foreign currency to finance imports or pay debts. The IMF provides short-term loans and technical assistance to these countries to help them stabilize their economies, implement economic reforms, and return to growth. In return, the IMF requires the borrowing country to implement specific policy reforms, such as reducing government spending or implementing structural economic changes, to address the underlying problems that led to the balance of payments difficulties.
Another important function of the IMF is to provide economic analysis and policy advice to member countries. The IMF regularly conducts economic surveillance of member countries to assess their economic conditions and identify potential vulnerabilities. The IMF also provides technical assistance and training to help countries improve their economic policies and institutions.
Finally, the IMF serves as a forum for international economic cooperation and coordination. It facilitates discussions among member countries on issues such as exchange rate policies, international financial stability, and global economic imbalances.
2. Ideology of neoliberalism.
Ans: Neoliberalism is an economic ideology that emerged in the late 20th century, particularly in the United States and United Kingdom. It is characterized by a belief in free-market capitalism, limited government intervention in the economy, and the primacy of individual economic freedoms over collective social and economic rights.
Neoliberalism emphasizes the importance of reducing government regulations, privatizing state-owned enterprises, and opening up markets to international competition. It advocates for the removal of trade barriers, the deregulation of labor markets, and the reduction of social welfare programs. The goal of neoliberalism is to create a more efficient and dynamic economy by promoting competition and entrepreneurialism, and by reducing the role of the state in the economy.
Proponents of neoliberalism argue that it leads to greater economic growth, higher living standards, and greater individual freedom. They believe that the free market can allocate resources more efficiently than the government, and that government intervention in the economy leads to inefficiency and rent-seeking behavior.
Critics of neoliberalism argue that it leads to greater economic inequality, social unrest, and environmental degradation. They argue that the removal of government regulations can lead to exploitation of workers and consumers, and that the reduction of social welfare programs can lead to poverty and social exclusion. They also point out that the emphasis on individual economic freedoms can lead to a neglect of collective social and economic rights, such as the right to healthcare, education, and social security.
3. How does globalisation affect the states jurisdiction?
Ans: Globalization refers to the increasing interconnectedness and interdependence of the world’s economies, cultures, and populations. As a result of globalization, there has been a significant impact on the jurisdiction of states.
One of the primary effects of globalization on state jurisdiction is that it has eroded the ability of states to fully control their economies. With the expansion of global trade and investment, multinational corporations have become more powerful, and states have become increasingly dependent on foreign investment and international trade. This has led to a reduction in the ability of states to regulate their economies, as they are now subject to global economic forces.
Another impact of globalization on state jurisdiction is the increasing importance of international organizations and institutions. These organizations, such as the World Trade Organization (WTO), the International Monetary Fund (IMF), and the World Bank, have a significant influence on state policies and decisions. For example, the WTO has the power to overrule national regulations that it deems as barriers to free trade. Similarly, the IMF often requires states to implement certain economic policies in exchange for financial assistance, which can limit the policy choices of states.
Globalization has also led to an increase in transnational issues, such as climate change, international terrorism, and the movement of people across borders. These issues are difficult for individual states to address on their own, and often require cooperation and coordination among states. This has led to an expansion of international law and the growth of international agreements and treaties.
Assignment – III
Answer the following questions in about 100 words each.
1. Examine the phenomenon of merger and acquisition (M&M) in the global economy.
Ans: Mergers and acquisitions (M&A) refer to the consolidation of companies through various transactions such as mergers, acquisitions, and takeovers. M&A activity has become increasingly common in the global economy, with companies seeking to increase their size, market share, and competitiveness. This trend has been driven by a number of factors, including globalization, increased competition, and changes in technology and market conditions. While M&A activity can result in benefits such as economies of scale, access to new markets and technology, and increased competitiveness, it can also lead to negative consequences such as job losses, reduced competition, and increased concentration of market power. As a result, M&A activity is closely monitored by regulatory bodies to ensure that it does not result in anti-competitive behavior or harm to consumers.
2. Examine the organisational structure of World Bank.
Ans: The World Bank is an international financial institution that provides loans, grants, and technical assistance to developing countries. The organizational structure of the World Bank is composed of several different entities, including the Board of Governors, the Board of Executive Directors, and the President.
The Board of Governors is the highest decision-making body of the World Bank and is composed of one governor and one alternate governor from each of the 190 member countries. The Board of Governors meets annually and is responsible for setting the overall policies of the World Bank.
The Board of Executive Directors is responsible for the day-to-day operations of the World Bank and is composed of 25 executive directors, appointed by the member countries. The Board of Executive Directors meets regularly to review and approve the Bank’s operations, policies, and procedures.
The President of the World Bank is the chief executive officer and is responsible for the overall management of the Bank. The President is appointed by the Board of Executive Directors and is accountable to them.
In addition to these entities, the World Bank also has several operational units, including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC). These operational units are responsible for providing loans, grants, and technical assistance to developing countries in different sectors, such as infrastructure, health, and education.
3. Digital Globalisation
Ans: Digital globalization refers to the process of increasing interconnectedness and interdependence of the world’s economies, cultures, and populations through digital technologies, such as the internet, social media, and mobile devices. It has had a significant impact on the way people communicate, work, and do business.
One of the primary effects of digital globalization is that it has enabled the rapid and widespread dissemination of information and ideas. This has led to increased cultural exchange and the creation of global communities. Digital technologies have also facilitated the growth of e-commerce, which has enabled businesses to reach customers around the world and has given consumers access to a broader range of goods and services.
Digital globalization has also led to changes in the nature of work. The rise of digital technologies has enabled remote work and created new opportunities for freelancers and independent contractors. However, it has also contributed to the growth of the gig economy, which can lead to job insecurity and lack of benefits.
Another impact of digital globalization is the increasing importance of data and the challenges of regulating it. The collection and use of data have become central to many business models, and concerns have been raised about data privacy and security. The growing use of artificial intelligence and automation has also raised questions about the impact on employment and the need for reskilling and upskilling of workers.
Ans: The International Bank for Reconstruction and Development (IBRD) is a member of the World Bank Group and provides loans, guarantees, and other financial products to middle-income and creditworthy low-income countries. The IBRD was established in 1944 to help finance the reconstruction of Europe and other war-torn regions after World War II. Today, it operates in more than 140 countries and provides financing for a range of development projects, including infrastructure, energy, health, education, and environmental sustainability.
The IBRD raises funds through the sale of bonds to investors and uses the proceeds to finance its lending activities. Its loans are typically offered at market-based interest rates and are designed to be repaid over a period of 15 to 20 years. The IBRD also provides advisory services and technical assistance to help its clients implement development projects and policies effectively.
In addition to its lending activities, the IBRD plays an important role in global economic governance. It provides economic research and analysis, works to promote international cooperation on development issues, and coordinates with other international organizations to support sustainable economic growth and poverty reduction.
5. Impacts of Globalisation on Cultures
Ans: Globalization has had both positive and negative impacts on cultures around the world. On the one hand, it has facilitated the exchange of ideas, values, and traditions between different cultures, leading to a greater appreciation of diversity and new forms of cultural expression. For example, the spread of western music and movies has contributed to the creation of new musical styles and film industries in other parts of the world, such as Bollywood in India.
On the other hand, globalization has also led to the homogenization and commodification of cultural products, as dominant cultural values and products are exported around the world. This can lead to the erosion of traditional cultural practices and the loss of cultural diversity. For example, the spread of fast food chains and western clothing brands can lead to the displacement of traditional cuisine and dress, as well as the marginalization of local producers.
Globalization can also lead to cultural clashes and misunderstandings, as cultural values and practices are often deeply rooted and can be difficult to reconcile with the values of other cultures. This can lead to conflicts and tensions between different groups, as well as the creation of stereotypes and prejudices.
Overall, the impact of globalization on cultures is complex and multifaceted. While it has the potential to facilitate the exchange of ideas and cultural expressions, it can also lead to the homogenization and commodification of cultural products, as well as conflicts and misunderstandings between different cultures. To mitigate the negative impacts of globalization, it is important to promote cultural diversity and dialogue, as well as to support local cultural producers and traditions.
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