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World Bank Concepts and Problems in Macroeconomics

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As an employee of the World Bank you have been asked to research the needs of a country with a particular economic concern.
For this assignment, select a country and an economic concern, such as population, unemployment, etc. Search the Library and Internet for data sets for the concern that you have chosen.
Answer the following questions:
? Where were you able to find data sets?
? What is the relationship between the variable that you selected and the economy?
? What trends do you see in the data sets? Support your assertions of trends with statistical evidence.

Use the following data to answer questions 1-3 (be sure to provide all calculations).
Please see the attachment
1. Calculate real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow?
2. Calculate the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase?
3. Now calculate real GDP for 2004 and 2005 using 2005 prices. By what percent did real GDP grow?
4. Review the GDP information for the past few years from the Bureau of Economic Analysis's Website. Provide a brief summary of the GDP trends over that timeframe and discuss two or three events which may have caused these trends.
Be sure to show your work for each calculation.

The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help.
Using the internet and other resources, research the factors behind economic growth in Hong Kong and Singapore. Which of these methods of encouraging growth would you suggest to a newly industrialized economy?

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The response addresses the queries posted in 1087, 533 & 310 words with references.

//Prior to discuss on this topic, one should select a country of his choice, which will be analyzed with one of the given concerns. For this purpose, it is advisable to access library and internet sources. I am taking the example of the United States with an economic concern of unemployment. Additionally, I will provide you some facts on the trends of unemployment in the United States. //

Introduction

For this research, we have chosen the country US with the economic concern of unemployment in the country. The data set is found through the Internet sources and new releases of the US government. Unemployment is the situation in which a person who is able to do work seeks for the work. To study the economy of a country, it is necessary for an economist to consider the unemployment in the study.

The data that is found through the Internet sources provides a comprehensive view about the situation of unemployment in US. This data helps to know all the factors that can affect to the economy of US. It also provides information related to the affect of the unemployment rate on the economic growth of US.

Unemployment and Economy

Unemployment in the country affects the economy. There are inverse relationship between the unemployment rate and economy of a country. An increase in the rate of unemployment leads to the reduced rate of the economic growth of a country. The overall economic trend in a country is the most important element of its business environment like wise the business environment in the country is also an important element for the economic growth of the country.

Human resources of a country are the most crucial factor in its economic growth. Human resource is comprised of the available labor force and its quality. Quality of labor force depends upon the level of its education, skills and its inventive abilities. The non utilization of the available labor force in the country creates the situation of unemployment. Many qualified and skilled people in the country face this situation.

The unemployment and inflation are the opposite terms for an economy but both are harmful for the growth of an economy. If the rate of unemployment in an economy goes down then it causes for the increase in the rate of inflation. It is because the low rate of unemployment causes an increase in the wages and it tends to an increase in the prices of the goods and services. The high rate of inflation affects the growth of the economy.

A high rate of unemployment in the country helps to decrease the inflation rate but it negatively affects the economic growth rate of a country. To avoid both the situations, the goal is decided to get a lowest unemployment rate that doesn't create a higher rate of inflation. GDP growth rate is also affected by the unemployment rate in the country. A high rate of unemployment causes the decrease in the spending power of the consumers that affects the GDP rate of a country (How does a Good Economy Affect Unemployment, 2000).

When the economy is in equilibrium at less than full employment level of ...

Solution Summary

The response addresses the queries posted in 1087, 533 & 310 words with references.

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Similar Posting

Explain macroeconomic and microeconomic concepts and how they relate to the management of a global organization.

Scenario:

Acme Automotive is one of the major US producers of automobiles in Mexico. You have been sent to the Acme automotive plant in Nuevo Laredo, Tamaulipas, Mexico as the new Operations Manager to respond to recent declines in employee morale, productivity, and cost effectiveness at the Nuevo Laredo plant in the past 12 months.

Talk of union organizing is of utmost concern to your supervisor in terms of short run and long run costs of production. Your job is to investigate the productivity/cost effectiveness problem and make recommendations to top management for goals and strategies in line with the Acme Vision. Your first day at the job, you receive the following letter from a disgruntled employee:

(Note- the 'Maquiladoras' to which the writer refers, is the word for companies that process Mexico-imported components, then export them.)

Dear Sir:

I've been working in Maquiladoras since I was 20 years old, and now I'm 27. I've gotten more and more worried, because my job is ruining my health and I have no way out.

Now I work at Acme, where I've been for about a month and a half. "You could say it's forced labor, considering how the foremen talk to the workers and how much psychological pressure they put on people. We work an average of 14-15 hours a day. There's no transport service to and from work, and we get off the shift at 4 o'clock in the morning. Usually we have to wait until 7 AM before we can catch a public bus. And when a bus does come, getting home costs 20 pesos. That makes a very big dent in your take-home pay - 380 to 400 pesos a week ($40-43).

My job is bending steel cables...which are about a centimeter thick, and I have to bend about 3500 a day. Because of what's passing through my hands every day, I can hardly sleep at night - the pain is so bad. Then I have to get up in the morning to do it again. In the future, I know that I can get carpal tunnel problems, which is a very scary idea. I've asked to change to another position, but no one wants to change because whoever works in this job gets a lot of pain in his wrists.

I feel that in three or four years my hands are going to be useless. I've been thinking that I'll have to get another job. What else can I do? They say work in the Maquiladoras is the best paid work here in the city. But there's not much difference from one factory to another.

This is all just normal - the standard. Really, I'm living my whole life in the factory. Because of the time and money pressure, I have no ability to develop myself even as a worker, much less as a human being."

After I had been working in Acme for a month, I went to my supervisor with my concerns about health and safety problems at the plant. He told me that I was putting the Maquiladora workers in danger by making waves. I know that the company's goal is to cut production costs and increase the profits from the engines we produce, but I am hoping you will consider the plight of the poor Mexican workers. I am hoping you will see through our eyes as well as from the eyes of the company officials.

Yours truly,

Enrique Santiago:

Quotes and idea taken from:

Bacon, David. "The Story of a Maquiladora Worker." Metro Detroit Greens. 10 Dec. 2000. Retrieved 20 Jan 2004 from http://detagreens.tripod.com/maquiladora.htm

Problem
You are laying the groundwork for Acme's deployment of key lead operations managers and top level personnel to international manufacturing plants. As such, one expectation the company has for you is that you will research and write relevant economic white papers for the pre-orientation of future deployed employees.

Write a 2-3 page white paper which will help employees understand the economic experience of Mexico since NAFTA. Issues you may want to cover include, but are not limited to, trade liberalization, national sovereignty, worker rights, World Trade Organization and committees, relationship with World Bank and IMF, types of economic development.

Please submit your assignment.

Following are sites you will find helpful.

References:

World Bank Group. Global development finance 2001. Retrieved January 7, 2004, from http://www.worldbank.org/prospects/gdf2001/vol1.htm
World Bank Group. (2001). Mexico - A comprehensive development agenda for the new era. Retrieved January 7, 2004, from http://wbln0018.worldbank.org/External/lac/lac.nsf/Publications/9364AB8A25BABD6085256A4C004B3963?OpenDocument

Explain macroeconomic and microeconomic concepts and how they relate to the management of a global organization.

Need help with understanding what I am trying to do with this assignment. Don't understand.

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