Its all about South Korea, 1500 words
a. Find the most current published national economic statistics report of any country you want to do the research on (e g., 2018 or 2019 annual national economic statistics). Please get your selected country approved by your lecture by the end of Week 4.
For Example - If group members select that, they want to conduct their research study on CHINA. We can use the below mentioned link from google to find their national economic statistics -
http://www.$tat$ gov cn/tisi/ndsi/2017/indexeh.htm
The objective of this task is that you get the feel of a real-life example of country” economies and apply your economic knowledge and analytical capabilities to evaluate a countrys economic status.
b. Read the national economic components from the data provided on their government website and write a report after completing the following tasks:
1. Provide a brief introduction of the country (eg.. geographic, demographic and economic information) you have selected.
2. List out the current key national economic statistics of the country (see listed below) and briefly discuss the trends of these economic indicators over the past five years. Please evaluate what are the key factors contributing to these changes and support your argument with relevant references and examples.
• Gross Domestic Production (GDP)
• Consumer Price index (CPI)
• Inflation rate
• Unemployment rate
• Interest rate
3. Provide an explanation on the composition of the current GOP of your selected country and briefly discuss how has each GPO component changed over the past five years. Please also provide and the reasons behind these changes. Please support your argument with examples and references.
• Government expenditure
• Net exports
4. Comment on the fluctuation of the CPI and inflation rate in the selected nation and briefly discuss how does that impact on the various aspects of people’s living standard (e.g.. their consumption power, income level, employment status and so on). Please specify your evaluation based on the context of your select nation.
5. Imagine that you are invited to develop the fiscal policy with the reserve bank/central bank of your selected nation with the aim of stabilizing the Inflation rate, reducing the unemployment rate and boosting the overall national economy. Please provide 2-3 valid advice based on your findings and the key economic statistics In