This subject addresses the phenomenon of globalization in connection with a variety of issues that have direct and/or indirect relevance for business and managerial practices. Topics to be covered include: The globalization debate in terms of conceptualization, causal dynamics, socio-economic consequences, and implications for macroeconomic stability, state power and governance. Transnational corporations, globalization versus localization of emerging consumption patterns, information technologies, global financial markets, political and economic consequences of globalization, and accords such as European Union, GATT, and NAFTA will be discussed.