Economics Homework Help

I’m working on a economics question and need guidance to help me learn.

What have been the most important determinants of economic growth in [your chosen country] over the past 10 years?

Introduction

Thesis: for example: “This essay will argue that the most important determinants of economic growth in ……………. are ………………… and …………………

Definitions of short term and long term economic growth:

What targets have the government had for economic growth over the last 10 years?

What has actually happened to economic growth over that period?

How does growth compare to similar/neighbouring countries

What does the economic growth look like:

Steady or inconsistent

• Rapid or slow

Focussed in particular geographic areas or spread across the country

• Which components of AD have risen the most/the least?
• Main Body
• What have been the causes of economic growth?
• Cyclical fluctuations
• Changes in the factors of production (land, labour, capital, enterprise)

Changes in the productivity of factors e.g. through better technology or education

• Changes in government policy
• Political change or instability
• Natural disasters or other supply shocks
• Volatility in world prices

Changes in the exchange rate

Questions for analysis and evaluation:

Which drivers of growth have been the most important in different regions/industries?

• What has driven short term growth?

What factors have been most important in driving long term growth?