Reference no: EM131138472

Discussion Assignment:

1. A Comparative Analysis of 5 or more selected countries explaining their economic, political, and institutional, demographic, and social structure.

Select at least 5 countries with a combination of industrially developed and developing countries. Make a table to include the following information in the table.

Based on the information in the Table, write the following aspects:

Critically and analytically write a brief essay about economic performances of the countries you have selected reflecting economic, demographic, political, and social characteristics. Your analysis should also indicate a brief historical development of the transformation of economic and political status in recent decades, along with the challenges these countries are currently facing for further economic progress. The contents of your analysis are expected to not only the data you have collected and shown in the above table, but also qualitative aspects of relevant areas for comparison.

Note: In order to write a credible analysis, it is imperative that students use the specific data by including those as part of their analysis.
Some URL Links for collecting data:

www.Worldbank.org
https://data.worldbank.org/news/newest-country-classifications-released
The page: https://data.worldbank.org/indicator/NY.GNP.PCAP.CD
https://data.worldbank.org/about/country-classifications/country-and-lending-groups
www.Imf.org
www.ocd.org
www.undp.org
www.cia.gov or google search for cia world factbook.

Criteria of income classification of countries: https://data.worldbank.org/about/country-classifications

Q2. What are the key factors (both economic and non-economic) that led to the UK vote to exit the EU? What are the SR and LR effects of Brexit (if it is implemented) to the US and UK economy in terms of globalization?

Comparative Economic Systems

Introduction: Course Overview: Discussion based on the outlines in the syllabus

• Course Requirement: Weekly discussion Qs to submit by due dates and 2 Research Papers to write and submit by due date
• Discussion on Writing requirements and Writing format: To b posted in Canvas
• Resources to be provided: Provided the list in the Syllabus and additional resources to be posted in Canvas on weekly basis.
• Teaching format: Face to Face plus blended pedagogy on BB

Topics to Cover:

1. Why study comparative economics systems (CES)? Is it static or evolutionary with a state of dynamic transformation? What is economy as opposed to the concept of economics?

2. Historical perspectives of introducing alternative economic systems

• What happened in second half of 19th century since the publication of the communist manifesto of Marx and Engels in 1848?
• What happened in the European political economy since 1917 until 1990?
• The transitional process of transforming socialism towards market socialism since 1990.

3. Theoretical concepts of Capitalism, Socialism, Communism and other related schools of economic systems

The criteria to classify various countries into different economic systems:

• Allocation systems
• Ownership Pattern
• Economics Planning
• The systems of incentives
• Distribution systems of income
• Political systems with ideological differences including religion

The criteria to evaluate economies based on performance:

• Real per capita income = Real GDP/Population
• The growth rate of real GDP = (Yt-Yt-1)/Yt-1 = AY/Y
• Composition of economic sectors: Consumption, Investment, Govt, exp, trade
• Efficiency criteria: Static(Pareto optimality)
• Efficiency criteria: Dynamic(maximization of allocation of resources in the LR)
• Macroeconomic stability
• Provision of basic economic security to the citizens
• Efficiency and equity to balance
• Degree of freedom enjoyed by the citizens to choose

4. Measuring the economic performance in terms of production and distribution

• Major economic, political and social indicators
• Quantity versus quality
• Overall income distribution with other non-economic factors to measure.