econ competitiveness in the international economy questions

competitiveness in the international economy questions

total 10 questions, each question maximum 150 words. Please write in a short legibly-written essay-type answer.

1 “Along virtually all dimensions, competitiveness can be influenced markedly by purposeful action in both the public and the private sectors.” Discuss.

2. ‘The GCI is intended to identify factors determining productivity, more specifically, it aims to measure the capacity of national economies to achieve high and sustainable levels of per capita GDP and growth in the medium term, after controlling for the current level of development.” Explain and discuss.

3. An old cliché is “If you don’t measure it, you probably aren’t managing it.” Explain and discuss if this applies to the issue of a nation’s economic competitiveness.

4. “Productivity, innovation and knowledge, not low taxes, low government spending, low wages, abundant raw materials, or a devalued currency, are the means by which true competitiveness in the international economy is attained, and this creates issues for rich and poor countries alike” Explain and discuss.

5. “High productivity is beneficial, not because it helps a country compete with other countries, but because it lets a country produce and therefore consume more. Period.” Explain and discuss using at least two European and/or American economies as examples.

6. Former UK Labour Party Prime Minister Tony Blair said in the 1990s that “freedom of enterprise under the law is better than government control over industry and people”, that “the presumption should be that economic activity is best left to the private sector” and that “you have to create wealth before you can redistribute it.” Discuss in the context of the competitive performance of the UK economy since 1945.

7. The United States economy is often referred to as the economy that most allows what famous economist Joseph Schumpeter called “the forces of creative destruction” to operate, and which largely explains the high ranking of the United States economy in terms of global competiveness. Critically discuss.

8. “In the context of competitiveness, the optimal level of government expenditure and intervention in an economy is a difficult question.” Explain and discuss in terms of your choice of examples from the European and/or American (North and South) economies.

9. “In the last 30 years or so there has been a massive shift of thinking in Europe and the Americas regarding the role of state planning and regulation versus more free markets in fostering economic growth and competitiveness.” Discuss the nature of this shift and give your overall views on it. Does it require, in your view, a declining role of the public sector in national competitiveness in the Europe and/or the Americas? Explain.

10. The lessons of the relative decline of the economic competiveness of Argentina over the last number of decades, and of the nation “snatching failure from the jaws of success” is that “good government matters.” Critically discuss.



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