Globalisation is a modern trend that is working on a global basis and refers to all countries and people in the world. Working hypothesis of this thesis is: The process of globalisation will bring stronger economic, political and cultural relations between EU member states and it will contribute to economic development, efficiency and unemployment reduction. The result after researching showed that the hypothesis is true and it will be accepted. There are three aspects of globalisation: economic, political and cultural. According to KOF Index of Globalisation, it’s evident that in the first 10 most economical, political and cultural globalized countries are mostly European Union member states. It means they are following, making and applying world trends. Since these countries are ranked very high it means globalisation is positive for them. This thesis and researches are based on European Union countries and its population and what are the impacts that globalization has on them. Those impacts on European Union countries and people can be both positive and negative and they are connected with trade of goods, services, information, capital, ideas, beliefs, values, perspectives and culture. Sharing all of these through globalisation is bringing favorable changes like boosting economies of EU countries. Exports and imports are higher in almost each EU countries which can be seen from tables and graphs. Also, unemployment rate decreased meaning more people were unemployed and they found jobs. It can be said, it’s thanks to the globalisation because people are able to visit other countries and search for new opportunities and jobs. Internet is a big innovation that connects people from the entire world. Positive effects of internet are that people from one EU country can easily learn, upgrade their knowledge, communicate with people that are far away from them and also meet new people. Researches showed that more population is buying goods and services through the internet because it’s cheaper for them in that way but the negative effect is piracy, con artists, waste amount of data, human trafficking etc. Due to the globalisation, multinational companies are spreading around European Union by opening their business in other countries. This is increasing competition that can lead to closing smaller and traditional companies. Only consumers benefit from this because due to the competition, companies are lowering prices of their goods and services in order to increase their market share and get loyal customers. Multinational companies are polluting the environment, not trying to sustain the environment and consuming a lot more resources than without globalisation. Individuals are now more active than before, they are following acts of multinational companies and react if they overstep. It’s evident that the globalisation is the reason that people are healthier through sharing medical knowledge and spreading vaccines in those countries that didn’t have technology to make it. The negative side of this is spreading different diseases due to the massive travelling around the world. Transatlantic Trade and Investment Partnership Agreement is caused by the globalisation which will be soon signed between USA and European Union. There are advantages and disadvantages regarding food safety, taxation, more innovative products, growing of multinational companies and their attitude toward politics and environment. Even though globalisation has negative and positive sides, the negative are outweighed and the European Union is going in a good direction. All impacts will be proved by facts provided in a thesis in a form of tables and graphs.
|Study programme||Title: Business Economics; specializations in: Finance and Banking, Entrepreneurship, Management, Finance and Accounting, Marketing, International Business, IT Business |
Course: International Business
Study programme type: university
Study level: graduate
Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)