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2 pages/β‰ˆ550 words
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Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
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Topic:

Economic Development Mathematics & Economics Essay

Essay Instructions:

In this exercise, choose a country of your choice on a different continent than you live on to analyze the economic development of it. In a two-page essay, answer the questions below and discuss the factors that influence your country's economic development. Your essay should use a 12 point font, be double spaced, and use APA formatting to cite references on the last page of your assignment. It should be submitted as a Word or PDF document. Be sure to note the country you chose at the top of your essay.
Answer the following questions:
From the following list, how would this country be economically classified? Why?
Developed countries
Newly industrialized countries
Developing countries
How is national production measured in this country?
What challenges is your country facing in economic transition (if any)? Why?
What is the level of political risk in your country? Why? Provide at least one example of an actual political risk that has been in the news in the past ten years.
How can your company better manage political risk?

Essay Sample Content Preview:
Analyzing the Economic Development of South Korea
Name
Institutional Affiliation
Economic Development of South Korea
South Korea is a developed country. It underwent an economic transformation from the 1960s to the 1990s to become a highly industrialized nation. During this period, the country had one of the highest growth rates globally. The state is recognized as a developed due to the following factors. First, it has an advanced economy with one of the highest GDP per capita in the world. Second, South Korea is a global leader in technological innovations with one of the fastest internet speeds and leading tech brands such as LG and Samsung. Third, the country has a very high human development index scoring highly in critical sectors such as educational attainment and healthcare (CIA, 2020). Forth, South Korea has a robust infrastructure system with a well-developed transport and energy sector.
South Korea measures its Gross National Product by taking into account the value of all the goods and services produced in the country annually. The government uses data from financial and statistical agencies to calculate its citizens' average incomes, both domestic and overseas. It's highly productive industries include electronics, automobile, tourism, shipbuilding, and construction. South Korea has a high GNP due to a relatively large population, rapid technological growth, low unemployment, and a skilled workforce. This makes the country have a substantial purchasing power in the global market (CIA, 2020). It also has a high GNP due to significant foreign direct investment in the country, making it a leader in international trade.
South Korea is vulnerable to trends in the global economy. It has experienced slower economic growth in the last few years due to two significant reasons. One, the ongoing US-China trade wars put the country in a complicated economic situation. These countries are its leading export partners, with the existing tension hurting its export market. Second, the ...
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