28 Jan Why do economies develop differently? Economics, politics, and culture can all play a role. For this assessment, you’ll create a presentation to compare the
Why do economies develop differently? Economics, politics, and culture can all play a role. For this assessment, you’ll create a presentation to compare the development of 2 different countries or economies since 1992.
Step 1: Select 2 Economies
Review the pairs of economies listed below. Except for NAFTA/EU, each pair has 1 highly successful country and 1 less successful country.
- NAFTA vs. European Union (the world’s two largest economic entities)
- China vs. India (the world’s two most populous countries)
- South Korea vs. North Korea (two polar economic opposites, one people)
- Venezuela vs. Saudi Arabia (the world’s two largest sources of oil reserves)
- Nigeria vs. Democratic Republic of the Congo (functioning government and civil order vs. struggling government and violent clashes among factions; note: the Republic of the Congo is not the same country as the Democratic Republic of the Congo)
Research the economies of your chosen pair.
Compare similarities and differences between the economies.
Step 2: Create a Presentation
Create a 12- to 16-slide presentation about the two economies. Explain how their economic, political, and cultural development since 1992 has influenced their economic growth and trade competitiveness.
Include tables and graphs in your presentation. Use these visual elements to support your analysis of the following economic statistics/indicators for your 2 chosen economies. Show data from 2009 through the most recent year available (the trough of the last economic cycle). Whenever possible, plot the metric for both economies on the same chart.
- GDP per capita growth over time
- Inflation rate over time
- Unemployment rate over time
- Exports as a percentage of GDP over time
- National government debt as a percentage of GDP
Evaluate the reasons why the economic growth of the 2 economies/countries differed. Discuss how international trade influenced the strength of each economy. Discuss the role of value chains and value-added production.
Analyze how the failure to use value-added trade measures distorts trade statistics.
Examine at least 2 industries that have given each economy a comparative advantage in world trade.
Include detailed speaker’s notes in your presentation.
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