Case Study: Developing English Literacy Competences through the "Language Economics"

Abstract

The potential of globalization to produce more integration and interconnectedness across nations and economies—as well as economic growth, efficiency, innovation, language and prosperity—is what gives it economic worth. The study of the economic effects of the language use and language-related events is known as the economics of language. It covers a wide range of topics, such as the economic benefits of language proficiency, linguistic diversity, language policies, and language as an instrument for economic growth. Designing solutions that effectively harness the potential benefits of linguistic variety and promote equitable economic growth requires an understanding of the economic elements of language. CZU: 811.111:339.9; JEL: I25, F2; DOI: https://doi.org/10.53486/micg2024.03