Description
Purpose of Final Project: The purpose of the final project is for students to demonstrate that they understand the structure and functioning of the economy in the country of choice through an analysis of how the macroeconomic policies, including monetary and fiscal policies, work to advance the environmental and sustainability matters. Students have to think critically about the role each policy plays in providing solutions to the environmental issue. In the real world, students will need to evaluate the actions of the government to regulate the economy, either as part of their chosen profession or as an engaged citizen. The final project will build on the weekly assignments completed throughout the five weeks course work.All the required data can be found on the Trading Economics or Doing Business websites (links below): Access the Trading Economics website at http://www.tradingeconomics.com (Links to an external site.) Access the Doing Business website at http://www.doingbusiness.org (Links to an external site.) Access the World Factbook website at https://www.cia.gov/library/publications/the-world-factbook/ (Links to an external site.) Review some of the most well-known environmental projects around the world at https://www.esrag.org/sustainability-projects (Links to an external site.) https://www.greenmountainenergy.com/2020/01/your-guide-to-sustainability-projects-happening-around-the-world/ (Links to an external site.) https://wwf.panda.org/knowledge_hub/where_we_work/project/ (Links to an external site.) This is by no means a complete list, but rather examples where to start. You are welcome to find many other sources and lists of environmental projects. These projects can focus on the following categories (the list is by no means complete): Sustainable economies Renew, recycle, reuse Carbon-neutrality Energy – renewable Agriculture – sustainable Water Oceans Air quality Ecosystems You should use the assignments you submitted throughout the course to build the report. Make sure to address any suggestions from the professor submitted on your assignments. Scenario: You are an independent analyst of the policy decisions by your chosen country. A representative of the chosen country government has asked you to prepare a report on the current status of the environmental/sustainability project in that country that you selected above. The representative asks you to prepare a short (10-12 pages) report. She specifies that the report is to have the following sections: 1. Introduction: Provide a brief introduction to what is contained in the report and why you are preparing it. (Suggested length: 1 or 2 paragraphs double spaced.) 2. Overview of the recent economic growth, current status, and forecast of the economic growth in the country. Describe what key macroeconomic indicators such as GDP, its growth rate, unemployment, and inflation rate for this country tell us about the macroeconomic stability and outlook for the country in general and specifically for the environmental/sustainability project in question.Use the essays you submitted for Final Building Blocks In Week 1 and Week 2, including any revisions, to complete this section. (Suggested length: 1 page double spaced.) 3. Overview of the Fiscal Policy in the country. Is government debt sustainable in this country in the long run? Does Fiscal Policy in this country support environmental projects and sustainable development? Is that support, if any, adequate and forward-looking? Make sure you use the available data on debt and deficit for this country. Discuss the impact on your specific Environmental Project. Use the essay you submitted for Final Building Block in Week 3, including any revisions, and write a short report on your finding (2-3 pages double spaced suggested) making sure you address the weekly learning objectives for Week 3. 4. Monetary Policy in the country and its role in the given Environmental Project. Provide a discussion of the role of the Central Bank in setting the monetary policy. Did the Central Bank use tight or easy monetary policy in recent history (over the past five years) and recently? What kind of tools of monetary policy does the Central Bank use? This discussion shall also outline the tradeoff between Inflation and unemployment. Does current monetary policy impede, or support your chosen environmental project? Is this monetary policy sustainable in the long-run? Use the essay you submitted for Final Building Block in Week 4, including any revisions, and write a short report on your finding (2-3 pages double spaced suggested) making sure you address the weekly learning objectives for Week 4. 5. Impact of International Trade and Globalization on your specific Environmental Project. Review and discuss the Exchange rates and International Trade policies of this country as well as its role in the Global Economy. Include the discussion of the external balances and current account of this country. Include the Macroeconomic Policies on economic development in this country and its approach to the matters of the environment and sustainability. Use the essay you submitted for Final Building Block in Week 5, including any revisions, and write a short report on your finding (2-3 pages double spaced suggested). 6. Conclusion: Assess the role of the Macroeconomic Policies as discussed above in the development of the environmental project that you have examined. To the best of your ability, please suggest to the government in question the specific macroeconomic policies such as Monetary, Fiscal, etc. that may advance the Environmental Project and/or foster an environment for the development of the similar, or a larger scale environmental and sustainability projects. (Suggested length 1 page double spaced.) 7. References. The last page of the report should be a reference page, cited in APA style. The representative of the government further specifies that: The report should be written in a clear and organized manner. The report should be formatted in APA style (title page, double-spaced, 12pt font) The report should be not less than 8 pages and not more than 12 pages (not including the title and references pages). The report should use not less than 12 quality references, cited in APA style. In-text citations should be used appropriately throughout the report. The report will be due on the last day of this course and shall be submitted electronically through Canvas. The conclusion I will add to the end of your editing before I pass in the whole project.
Taylor NileNovember 29, 2020Macroeconomics for a Sustainable PlanetGuerman Kornilov, PhDThe COVID-19 pandemic has caused a global recession. Everywhere, industrialproduction has experienced unprecedented decline since the infamous global financial crisis.Increasingly, crude oil prices in Russia have significantly reduced since the beginning of the
Again, the demand for oil declined by 8% this year. In the first quarter of 2020, Russia’sbiggest trading partner, Euro Area, saw its GDP contract at an annual rate of 13.6%. This isarguably its steepest fall in the bloc’s history. Its second-largest trading partner, China, had itsGDP fall by 6.8% in the first quarter of 2020, however, it has begun a slow recovery. In truth,Russia is gravitating towards a recession because it has registered negative growth in themajority of its sectors. Its manufacturing sector contracted by 10 percent, causing undesirableimpacts in the metal production industry and transport vehicles. Also, mining decreased bynearly 3.2 percent.Russia’s economic cyclesSince 2015, Russia has maintained a population of 147 million, a figure that neither risesnor falls. The country’s GDP had risen over the last five years when it recorded $1.361 trillion in2015 and reached a high of $1.7 trillion (Russia Economic Outlook, 2020). The nation’s citizensare relatively wealthy. The nation’s GDP per capita has increased in the same duration. In 2015,it stood at $9,289 and reached $11,583 in 2019.Additionally, the unemployment rates have continued to decline over the years. It stoodat 5.6 in 2015 and has since reduced to 4.6 in 2019 (Russia Economic Outlook, 2020). To meanthat citizens are getting jobs. However, the COVID pandemic may result in unemploymentbecause many businesses have taken the initiative to scale down because of the tumultuousbusiness environment.Notably, Russia emerges second in global production of natural gas and the third in oilproduction. In 2017, it was estimated that it had 106 billion barrels of oil reserves. Similarly, itsexports, majorly mineral products, accounted for about 59.2% of its total exports. As such, thecountry is largely dependent on oil exports as key contributors to its economy.Increasingly, oil prices are a source of business cycle fluctuations in Russia. Thisphenomenon was started by the oil crisis of the 1970s. Often, fluctuation in oil prices has impactson the macroeconomy. Oil prices will essentially increase inflation while reducing economicgrowth (Russia Economic Outlook, 2020). In matters of inflation, oil prices have a direct impacton the prices of petroleum products.The oil spill in Russia will likely have macro-economic impacts far and beyond Russia.The oil spill that affected the Arctic Ocean will have significant effects on both the environmentand the economy. For instance, oil spills have serious damages to fisheries as well as maricultureresources. Again, physical contamination often affect stocks and will ultimately interfere withbusiness activities.An oil spill does not necessarily increase oil prices. Usually, oil prices indirectly haveimpacts on costs, including transportation, heating, and manufacturing (Ponka &Zheng, 2019).Increased costs will, in turn, raise the prices of other goods and services since producers willcertainly pass the cost of production to the consumers.Since the oil spill will have less impact on the oil prices, projections are that economicgrowth won’t be stifled. This is because its impact on the supply and demand for othercommodities besides oil will be much lower. Russia may only experience the devastatingenvironmental impact as opposed to the economic impacts of the oil spill.ReferencesRussia Economic Outlook (2020). Focus Economics.https://www.focus-economics.com/countries/russiaPönkä, H., & Zheng, Y. (2019). The role of oil prices on the Russian business cycle.Research in International Business and Finance , 50 , 70-78.https://doi.org/10.1016/j.ribaf.2019.04.011
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