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