Exploring the Impact of Global Economic Growth on University Students

This essay examines the multifaceted impact of global economic growth on students, focusing on both positive and negative consequences. It highlights how economic development in countries like India, Indonesia, and China influences global trade and labor mobility, subsequently affecting the quality of education and job opportunities for students, particularly in the UK. The essay argues that while global economic growth can improve educational infrastructure, increase job creation, and foster entrepreneurial opportunities, it also intensifies competition in the labor market and can lead to the outsourcing of jobs, posing challenges for fresh graduates. The report also considers the counter argument that the monopoly of multinational corporations can negatively affect entrepreneurial ventures. Ultimately, the essay concludes that economic progression presents both advantages and disadvantages for students, emphasizing the need for them to develop skills and credentials to navigate the evolving global landscape. Desklib provides students with access to resources like this essay and AI based study tools.

Component 2:
Argumentative
Essay

Table of Contents
INTRODUCTION ..........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Significance of the topic of global economic growth for students .............................................3
Application of different aspects of selected topic ......................................................................4
Argument against positive impact of global economic growth on students ..............................5
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Developing countries such as India, Indonesia, China Thailand and Saudi Arabia are
facing economic growth which has uplifted the global economy. The economic growth of
developing regions has played an important role in global economic upliftment and creating new
expansion opportunities to multinational corporations (Ross and et. al., 2018). Toyota is leading
auto mobile brand which gains opportunity for economic expansion because of financial
development of various developing countries. The positive economic development around the
globe also affects students as it facilitates improvement in education. The topic selected for this
report is positive impact global economic growth on students. The significance of this topic is
provided in this report along with ways in which the topic can be applied by a student. Apart
from this an opposing argument providing information about negative consequences for global
economic development is also provided in this report.
MAIN BODY
Significance of the topic of global economic growth for students
The topic of global economic development is an important topic for students because it
assists in improving education gained by students. This is because global economic growth in
developing countries increases trade in UK which contributes to better economic conditions in
UK and improvement of educational infrastructure of the country. In addition to this the
improvement in labour mobility because of economic growth also contributes to educational
improvement in developed regions such as UK. This is because easier labour mobility leads to
talented and skilled faculties entering the UK educational sector and offering students teaching
services. Highly skilled and experienced teachers from all developing seek to gain recruitment at
Universities in UK in order to improve their standard of living because of enhanced labour
mobility (Parry and Battista., 2019). This is beneficial for students as presence of globally
diverse faculty members of UK universities enables students to understanding different
perspectives on various subjects and gain knowledge from highly experienced teachers. In
addition to this, global employee mobility makes teaching staff with expertise in specific subject
are available to students who are globally renowned because of their profound knowledge on the
specific subject. This makes the topic of positive pact of global economic development highly
valuable for students as it enhances the quality of teaching staff present at Universities in UK.

Another positive impact of global economic growth to students is that it facilitates job creation
for students. This is because global economic development has positive impact on UK economy
and more entrepreneurial opportunities emerge in the country. This leads to job creation and
provides opportunities for freshly graduate entrepreneurs to take their business idea into reality.
This is beneficial for both highly skilled and low skilled employees as they are able to gain well
paying jobs soon after completion of their University journey (Krishnan, te Velde and Were.,
2018). In addition to this global is an important topic for students as it also increases competition
in the labour market. This is because developing countries produce highly skilled employees and
which compete with students in UK to gain employment in various British enterprises. This
along with better labour mobility all over the globe intensifies competition in the labour market
for high paying jobs. Students have to face pressure to contentiously improve their skills and
gain more credentials in order to compete in the global workforce.
Application of different aspects of selected topic
One of the primary aspects of global economic development is that it improves quality of
education and faculty available to the students This is because international trade from
developing countries increases government endowment to educational institutions and
investment in initiatives to enhance education received by students in UK. In addition to this,
better labour mobility enables expert teaching staff from developing countries to gain
employment in UK based universities and offer students excellent education. This aspect of the
topic can be applied by students to gain the bets outcome from their educational experience
(Abdel-Maksoud, Jabbour, and Abdel-Kader., 2021). Students need to participate in various
educational activities in Universities and make effort to understand perspectives and knowledge
provided by diverse faculty in order to expand their knowledge on their field. This will not only
improve educational experience of students but will also help students gain better grades and
become more suitable candidates to compete in the international labour market. It is important
for students to engage with their faculty and understand different viewpoints in order to gain
excellent experience and understand various concepts effectively.
Another aspect of positive economic development which can be applied by students is
better labour mobility. Economic growth in developing countries will open more employment
avenues for students as they can seek high paying jobs in outside of UK and gain international
experience to gain quick career advancement. In addition to this expansion of business firms

headquartered in developing nations will also increase employment opportunities for students at
high paying levels because higher education degrees from UK universities are highly valued in
eastern nations. Students need to develop international employability skills in order to apply this
aspect of global economic development. Emotional intelligence, interpersonal skills,
communication skills and fluency in different languages are certain skills which can help
students secure lucrative employment opportunities in growing developing economies.
Global economic growth also increases capital and investment available to start-up firms
with huge growth potential (Tetlow and Stojanovic., 2018). Students in UK will be affected by
this aspect of betterment of global economy as they will be able to easily gain investment for
their entrepreneurial endeavours. Students currently seeking University level education or
students who have completed their education will be able to apply this aspect by developing
profitable business plan for an enterprise. Blooming global economy will not only help students
gain investment for their entrepreneurial ventures but also will help students risk in international
expansion because of growing economic conditions in developing regions. Globalization will
also help students gain cheap labour for their enterprises and attain success in entrepreneurial
field. This will also help improve growth opportunities for young entrepreneurs as they will be
able to construct enterprise at lower costs.
Argument against positive impact of global economic growth on students
The opposing argument for the positive impact of global economic development is that it
increases competition for students in UK as individuals from all over the globe aim to secure
high paying positions in developed countries such as UK. Students will have to face skilled
candidates from different countries and higher experience in order to secure employment. This
is negative factor for fresh graduates as they will face extreme difficulty in gaining employment
because of sudden rise in competition. In addition to this global economic development increases
monopoly of international business firms on global trade which has negative consequences on
students who wish to become global entrepreneur. Global corporation engage in intense
competition in order to gain market leadership. Small business firms and newly formed
enterprises have low chance of gaining success at an international level and exploiting growth
opportunities present in developing nations because of this type of competition and monopoly
created by multi-national competition. In addition to this, multinational corporations focus on
outsourcing business operations to developing regions which have the required infrastructure and

cheap labour to produce high quality products at an affordable price. This leads to many business
firms in UK outsourcing business operations to developing countries in order to maximise their
profitability and reducing employment opportunities in UK. This perspective offers opposing
view towards economic development in developing regions than the perspective of positive
impact of global economic development on students. Students will be the most affected by this
movement of business firms to developing regions a they do not have high experience and
credentials to quickly move upwards in the corporate hierarchy. This opposing view emphasises
the importance of credentials and skills in improving the employment and career advancement
opportunities received by an individual during economic progression of developing countries.

CONCLUSION
Form the above report it is determined that the economic progression of developing
countries has both positive and negative consequences for students. The positive outlook towards
economic progression of developing countries describes growth in international trade and easier
labour mobility as factors which can improve quality of education received by students. In
addition to this investment required by freshly graduate students will also increase because of
global economic upliftment. These aspects of economic progression of developing countries
increase the importance of this topic for University level students. The opposing view toward
this topic is that economic progress of developing countries increases introduces higher level of
competition in the labour market which is highly disadvantageous for students. In addition to this
monopoly of multinational corporates in global tare can also negatively affect entrepreneurial
ventures if students and their ability to gain success as an entrepreneur on an international level.

REFERENCES
Books and Journals
Abdel-Maksoud, A., Jabbour, M. and Abdel-Kader, M., 2021, January. Stakeholder pressure,
eco-control systems, and firms’ performance: empirical evidence from UK
manufacturers. In Accounting Forum (Vol. 45, No. 1, pp. 30-57). Routledge.
Krishnan, A., te Velde, D. W. and Were, A., 2018. Kenya–UK trade and investment
relations. Taking stock and promoting exports to the UK. Overseas Development
Institute (ODI).
Parry, E. and Battista, V., 2019. Generation Z in the UK: More of the Same–High Standards and
Demands. In Generations Z in Europe. Emerald Publishing Limited.
Ross, A. G. and et. al., 2018. The economic impacts of UK fiscal policies and their spillover
effects on the energy system.
Tetlow, G. and Stojanovic, A., 2018. Understanding the economic impact of Brexit. Institute for
government, pp.2-76.