Compare and contrast two countries of your interest: one classified as a high-income country and another classified: Economic Principle Assignment, UOC, UK

University University Of Cambridge (UOC)
Subject Economic Principle
  1. Compare and contrast two countries of your interest: one classified as a high-income country and another classified as low- or lower-middle-income, according to the World Bank’s country classifications available here. Based on the theories discussed in Lecture 4, which theory do you think better explains the divergence of aggregate income between these two countries and why? What policies could be implemented to reduce the current income gap?
  2. Choose a country of your interest and assess the impact of the Covid-19 pandemic on the labor market, in terms of changes in the unemployment rate, wages across sectors of economic activity, and disparities in employment in terms of gender, ethnicity, or levels of education. According to the discussions in Lecture 5, what factors could explain the observed dynamics?
  3. In a comparison of two advanced economies of your choice, discuss each country’s inflationary dynamics since 2021 and the role of countercyclical policies as a response to this environment. According to the discussions in Lecture 9, what role might countercyclical policies and adverse external shocks have played in bringing about this inflationary environment and how can countercyclical policies be leveraged to address the corresponding inflationary pressures?

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