This two-volume document reports on a study of globalization and Australia's training market. Volume 1 begins by examining debate on globalization and industry training in Australia. Discussed next is the study methodology, which involved field studies of the metals and engineering industry in South West Sydney and the Hunter and the information technology industry in South West Sydney and the Central Coast of New South Wales. Presented next are major findings regarding the following issues: (1) labor market settings; (2) key challenges confronting both industries studied; (3) why emerging industry training markets are failing to meet the key challenges arising from globalization; and (4) implementation of competencies, the New Apprenticeships, and the training packages. Volume 1 includes 16 tables/figures and a 35-item bibliography. An appendix constituting approximately 60% of Volume 1 contains seven regional industry training market case studies. Volume 2 (also provided on disk) contains technical notes on the following topics: (1) debates associated with the terms "training markets" and "VET institutional arrangements"; (2) empirical data associated in the structure of Australian industry; and (3) data on the size and structure of Australia's metals and engineering and information technology industries and trends characterizing them. Concluding Volume 2 is a 152-item bibliography. (MN)