Globalization and the Australian Economy: A Reflective Learning Report

Desklib provides past papers and solved assignments for students. This report analyzes globalization's impact on Australia's economy.

Assignment 3
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TABLE OF CONTENTS
1. Evaluate the effectiveness and your usefulness of the learning experience.............................3
2. Explain how this learning process will be useful to you..........................................................3
3. Describe objectively what happened in the learning process...................................................4
4. Evaluate what you learn...........................................................................................................5
5. Explain your learning process..................................................................................................5
6. Explain plan how this learning you will applied......................................................................6
References........................................................................................................................................7
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1. Evaluate the effectiveness and your usefulness of the learning experience.
The present study is linked with understanding the impact of globalization on the economy of
Australia. This learning process and experience was quite remarkable and above my expectation
level as I got to know about the whole scenario concerning the effects of globalization on the
cited country. This experience of the study was very valuable for me because it helped me in
gaining and enhancing my knowledge about the Australian economy. Moreover, it increased my
core knowledge basis as the research comprises of various areas such as the research was done in
several fields of the country, its advantages and disadvantages, research gap, hypothesis etc.
Studying such research projects helps in enhancing the knowledge base of an individual. Apart
from this, I am feeling very positive as I was able to learn the globalization and its impact in a
proper manner.
The present world is of globalization (Goodfellow, et. al., 2016). The study helps me not only in
understanding and gaining the brief about this concept but also the effects of globalization on the
economy of a country. I tried to observe every single aspect of the research project so that I can
be able to gain the complete knowledge which helps me in my upcoming career. As per my
observation and gaining the knowledge, I think this learning experience was worth and much
needed for me.
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2. Explain how this learning process will be useful to you.
The learning and experience that I have gained from this research project has helped me a lot in
my personal development. Having knowledge about the economy of a country is very important
nowadays, as the world has become a small village because of globalization (Taylor, 2017). The
study was very interesting as I have my interest in this field and I have always wanted to gain a
deep and thorough researched knowledge on this topic. This overall experience of studying the
impacts of globalization on the economy of Australia will help in assist my career. This
experience will also aid to my fast development.
Moreover, being a master’s student this is essential for me to have knowledge on the
globalization and its impact as this is beneficial for my course curriculum too. In terms of doing
trade on international standards, doing a thorough evaluation and examination of the economy of
various countries is significant. This study is the beginning and working as a motivation for me
to ensure success in future.
Thus, this learning process proves very useful and beneficial for me because it helped me in
feeling a sense of accomplishment and pride. Also, it has increased my keenness to know more
about globalization and the economy. I will apply this knowledge gained from the study at the
workplace where I will work in future. Sharing knowledge will also increase my strengths and
interaction skills.
A brief understanding about the market size, macroeconomic performance, FDI etc. of the
country will increase my competency of attaining the information of marketplace and economy
so that I will not get any difficulty in my work in future.
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3. Describe objectively what happened in the learning process.
The entire process of learning has enhanced my knowledge level and skill and it was very
effective. In the learning process, my first emphasis was on learning the overview of the topic of
research and study. Then after I focused on how to conduct an analysis of a study such as
literature review, research methodology etc.
Learning research methodology gave me confidence as it is very beneficial to conduct any
research and I concentrated on every aspect of the project. During the entire learning process, my
major focus was on to learn on that how to write a literature review. The literature review has
appropriately includes all aspects related to globalization and the economy of Australia. This
includes the relationship between the macroeconomic performance of a country and
globalization, role of foreign direct investment, the role of policies in economic development,
expansion of businesses etc (Anaya, et al. 2016). Moreover, the literature review of the learning
process includes the major managerial and organizational skills required in manufacturing and
service industries. The research paper also includes the aim of the businesses of the cited country
to generate maximum revenue from the work operations. The outcome of the analysis concludes
that increasing FDI and welcoming international organizations contributes to the economic
growth of the nation. On the other side, increasing exports enhances the burden on government
and adversely affects the economy. Hence, it is identified that globalization has improved the
economy of Australia but along with it has also increased the dependency on imported food
items. The study gave me a deep knowledge and understanding of research objectives, design,
methodology, limitations, time schedule etc.
After that the emphasis was on the research design and methodology. For the cited project of
research, qualitative and quantitative both research was used and the design that is used for
research was descriptive. I got to know how to formulate the research design. After that a time
schedule if drafter that in what week what work was done and at the end the report was
concluded with a brief description of the conclusion.
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4. Evaluate what you learn
The research helped in the two areas of learning i.e. the impact of globalization of the economy
of country and conduction of research methodology process. This business research proved very
useful for my research learning process because it proved as a tool for me to build my knowledge
and facilitate learning. This helps me in understanding the topic and its importance along with
increasing my awareness and also it will prove as an aid to success in my career. In many
organizations, conducting research and implementing the outcomes is a major task (Claros, et.
al., 2016). I will be able to examine and analyze it appropriately after learning this study. Apart
from this, research learning is very significant not only in professional career but in daily life
also as it is a way to prove lies and supports the truth. Research is the biggest way to find and
seize opportunities that are an essential factor for personal development. Thus, research learning
process helps me in nurturing my potential and attaining goals through numerous opportunities
in various fields i.e. scholarship, employment, project funding, collaborations etc.
Furthermore, I learned about the procedure of conducting research that involves identifying the
objective or central question and researching on the existing literature on the appropriate
database. Thus, the research process proved benefitted for me because I identified various facts,
viewpoints and a large frame of understanding of this topic.
It is a common phenomenon that the more research tools are used, the more viewpoints can be
identified at the time of topic exploration (Illeris, 2018). Hence, it is identified that this research
skill will be useful for me in my work, writing, organization, interview etc.
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5. Explain your learning process
The major reasons for conducting these activities are to understanding the research topic
appropriately (Beech, e.t al., 2017). This activity provides facts, eminent scholars, parameters of
the field and various ideas, questions and hypothesis. It can be described that the literature
review helped me in assessing the current state of the topic along with evaluating new relevant
articles, research limitations and future research recommendations. Thus, it is identified that this
activity demonstrates the knowledge and relationship between various contributions.
Therefore, this learning process helped me in providing a context for my own research,
rationalizing the significance of the topic and identifying the methodologies and research
techniques that have been used. In a nutshell, it can be said that this activity of assignment 1
helped me in my learning process. Also, it enables to identify different methods and ideas and
recognizing gaps in current knowledge.
This learning process contributed to my knowledge base and promoted the development of
thinking ability. Moreover, this learning process provides me with an insight of the economic
data of the last three decades of Australia and the merits as well as demerits of globalization in
the context of the economy of the cited country. After this assessment, the emphasis is on the
understanding of the factors that contributed to the expansion of the market and its positive and
negative impacts.
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6. Explain plan how this learning you will applied.
I will implement my learning which I have gained from assignment 1 and 2 at my workplace
practically. I can implement my knowledge at my workplace in various steps such as finding,
evaluating, combining, sharing, and then applying. This can be done by open communication or
meeting techniques (Gašević, et. al., 2015). In order to effectively implementing, my learning
skills in future, I am required to focus on several things. These are taking time to learn self-
explaining, identifying the gaps in my knowledge, establishing clear learning goals and finding
daily opportunities to apply what I have learned.
The impact of globalization on the economy of Australia is a most significant topic which will
surely prove beneficial for me at my workplace. In order to successfully implement my learning,
I am required to identify my top strengths and seeking out experiential learning opportunities.
Thus, this research process and learning are helpful for me in establishing a good relationship
with colleagues and others by sharing information.
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References
 Anaya, A.R., Luque, M. and Peinado, M., 2016. A visual recommender tool in a
collaborative learning experience. Expert Systems with Applications, 45, pp.248-259.
 Beech, N., McGill, I. and Brockbank, A., 2017. Reflective learning in practice.
In Reflective learning in practice (pp. 30-40). Routledge.
 Claros, I., Cobos, R. and Collazos, C.A., 2016. An approach based on social network
analysis applied to a collaborative learning experience. IEEE Transactions on Learning
Technologies, 9(2), pp.190-195.
 Gašević, D., Dawson, S. and Siemens, G., 2015. Let’s not forget: Learning analytics are
about learning. TechTrends, 59(1), pp.64-71.
 Goodfellow, I., Bengio, Y., Courville, A. and Bengio, Y., 2016. Deep learning (Vol. 1).
Cambridge: MIT press.
 Illeris, K., 2018. A comprehensive understanding of human learning. In Contemporary
Theories of Learning (pp. 1-14). Routledge.
 Taylor, E.W., 2017. Transformative learning theory. In Transformative Learning Meets
Bildung (pp. 17-29). SensePublishers, Rotterdam.
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