Understanding Flamboyancy of Globalization through Higher Educational
Economics : Limkokwing Integrated Model on Economics (LIME)
Abstract
‘Globalization’, a term that was denied in communist countries as
they looked at it as destructing factor in economic development. It was
considered as negative element to divert respective country’s resources.
Fact remains same when fellow citizens see globalization as outright
selling of resources or buying resources from other nations to demolish
their own production. Karl Marx in 18th century
propaganded how future will be entangled in capitalism and his views
cannot be abandoned by any modern economist or governments. The World
has become small such that communication and trade has gone beyond
borders. While the war between communism and capitalism being kept
apart, today notion is about getting global. Present World has extended
its boundaries. This requires attention and needs to be divulged to
world at large. One can understand the best platform to communication a
concept is through education. It is a strong and powerful medium to
introduce agendas that can be implemented. A constructive model is
submitted through this research paper. Limkokwing University of Malaysia
has been taken as element to derive a model for this research study
whereby it represents as one of the best institution to broadcast
globalization through its visionary approach of having diversified
cultures and nationalities in one institution. This University
integrates students and their traditions from all corners of World.
There are exemplary evidence to build the unity among people
irrespective of races and ethnicities within their campuses. Based on
this, a distinguished model has been framed and tested with sample of 52
economist from Banking sector, Economic Planning Commission, Ministry of
Foreign Affairs, United Nations and Academia from Malaysia. They were
surveyed and interviewed. This Mixed mode research is built upon Theory
of Liberalism which illustrates globalization as market-led
extension of modernization. This research paper focuses to
submit a deliberate model on Economics to vehicle the merits of
Globalization. Measures has been taken to rise the flag of concept than
the instrument. Severe emphasis is laid on promoting LIME model than
other variants. SmartPLS 3.0 version software package was used to
analyze the quantitative data and phenomenological analysis was used to
analyze qualitative data.
(Key words: Globalization, Limkokwing University, LIME Model)
