Since that time, PEG has become the premier program for global scholars like you who want a deeper understanding of the impact of politics on economic processes and outcomes—and the reciprocal influence of economic conditions on political life. PEG allows students to focus on an economics or political science perspective of political economy by offering prospective students to apply for the Economics track or the Government track. Students in these tracks become part of those Faculty of Arts and Sciences departments while completing requirements in both departments. Sara Lowes PEG PhD found herself at the intersection of development economics, political economy, and economic history. With an eye to building careers in an academic world still divided into separate disciplines, PEG offers two different tracks: one in economics and one in political science.
In recent times china has been asked to make political decisions and stop diplomatic and economic ties with countries that are seen by the west as human rights violators e. Korea, Iran, Sudan and Zimbabwe. China on the other hand has relented as these countries offer markets for its products and more importantly they are a source of raw materials for the countries expanding economy.
Paper Types. You are free to use it as an inspiration or a source for your own work. Globalization is important for countries to adopt because it creates an interdependence between nations, making the world more of an international community. When countries produce and exchange goods and services, there are economic benefits because increased productivity results in many more diverse opportunities for revenues; when incomes and profits go up, living standards can also improve greatly. In addition, when there is global competition, then imported goods, which are less costly, help to control price increases so that there is less of a chance that inflation will stunt economic growth.