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Pages:
4 pages/≈1100 words
Sources:
3 Sources
Style:
APA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 17.28
Topic:

Morocco’s Economy

Essay Instructions:

Project STEP 2 - 50 points
To complete this step, your essay and research should, at the very least, include answers, rationales, and insights into the following questions regarding your country:
1. Major Economic Features
Current demographic and economic features:
What is the population of your country? (Break this down into age, gender, rural and urban population.)
What are the major natural resources and the major features of the economy? Is the economy driven by the export of minerals and raw materials, agriculture, significant industries, or a mixture of these? What are the main exports and imports?
Which countries are its largest trading partners? Is the country a member of regional or continental African trading blocs?
How do different groups of people in your country make a living? Explore this in relation to both formal (i.e., salaried jobs) and informal work (casual, cash-in-hand work), look at both rural and urban settings, and consider the young, old, men, and women. Are there gendered differences in how men and women make a living in your country?
Basic economic indicators and economic policies:
Since independence, how has domestic economic policy shaped the country?
How have international economic forces shaped your country’s economy? For example, has your country been impacted by economic structural adjustment programs initiated by the World Bank or the International Monetary Fund? Do international trade agreements impact your country?
What is the current Gross Domestic Product (GDP) and Gross National Product (GNP) of your country? What is the significance of these figures?
What is the unemployment rate?
What is the poverty rate?
What is the foreign debt figure?
What do all these different economic indicators show about the state of the economy in your country?
Information technology and economic development
How has this country integrated information and technology communication (ICT) into its strategy for economic development/advancement?
To what extent are the internet and mobile phones, including mobile banking used in your country? Do these affect economic potential?
Economic impacts of Covid-19:
What impact has COVID-19 had on the economy of the country? Which industries/areas have been heavily impacted by COVID-19?
To what extent can the economic impact of COVID-19 be attributed to the country’s response to the pandemic? Give specific examples of pandemic responses and the ripple effects of them.
Economic impacts of the Russia-Ukraine war on African regional economic communities:
What are the possible economic impacts of the Russia-Ukraine war on the regional economic communities of the country? Focus on: (1) Food security and related policies and (2) Energy security and related policies and the resultant inflationary pressures the country is likely to face.
2. Conclusion:
Using all the data gathered and analysis you have conducted in relation to the above questions, write a conclusion addressing the economic health of your country and analyze the main factors contributing to its current strengths and challenges. What advice would you give to the leader of the country regarding turning these challenges into opportunities?
3. Other Requirements:
Referencing: Evidential Proof of sources used: Paper should be supported by evidence and quotations from sources. At least three sources with APA citation at the bottom of the report, Variation in selection of sources. (You can access APA citation style information at http://guides(dot)libraries(dot)psu(dot)edu/apaquickguide)
Organization of text: Well organized, detailed and logical/cohesive arguments addressing relevant issues.
Your work will be graded according to the Step 2 Grading Rubric.

Essay Sample Content Preview:

Morocco’s Economy
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Morocco’s Economy
Current Demographic and Economic Features
Morocco is situated in the north of Africa, bordering the Mediterranean Sea and the Atlantic Ocean. Its capital city is Rabat, and according to the United Nations, currently, Morocco has a population of 37,909,369 (Worldometer, 2022). In addition, the main ethnic group in Morocco is Arab, with approximately 44%, Arabized Berbers at 24%, Berbers at 21%, Moors at 10%, and others at 1%. Further, Morocco is ranked to be position 40 in the list of countries by population, and its population is 0.47% of the world's population. Also. The female population of Morocco is 51%, while that of males is 49%. Morocco has a population density of 85.3 km ² and a land mass of 446,300km². Additionally, Morocco has a literacy level of 72.4%, with 63.8% of the total population living in urban areas. Consequently, Morocco has a life expectancy of an average of 75.9 years and a median age of 29.5years (Countrymeters. info, 2022). In addition, informal employment accounts for 36% of total employment. This includes being employed in sectors such as agriculture, food processing, mining, and textile industries. The minimum wage is reviewed regularly as follows; public sector, from MAD3, 300.00 to MAD3, 500.00 per month; and. For the private sector, from MAD2, 828.72 to MAD2, 902.00 per month (Wage Indicator, 2022).
The Moroccan economy is dependent on the export of raw materials. The major economic resources of morocco are Agriculture, tourism, and phosphate mineral. Morocco exports agricultural products and phosphate, which holds 75% of the world's reserve and plays a significant role in earning foreign exchange and driving the economy of morocco (OEC, 2022). Conversely, morocco imports refined petroleum, wheat, car, car accessories, petroleum gas, and telecommunication equipment. In 2020, Morocco was ranked the best 58th economy in the world in terms of Gross Domestic Product and the world's biggest importer of Sulphur. Morocco's largest trade partners are China, France, the United States, Spain, Turkey, and Germany. In addition, morocco recognizes tourism which plays a significant role in the country. In 2019, Morocco received 13.11 million visitors with receipts of 9.95 billion US dollars. Morocco does not belong to any regional or continental African trading bloc. However, it is a member of the current dormant Arab Maghreb Union (AMU) headquartered in Rabat. The dormancy is caused by an existing conflict between Morocco and Algeria. 
Basic Economic Indicators
Morocco's economy is highly dependent on the export of raw products such as phosphate. Also, Morocco has highly invested in telecommunication and tourism, which together contribute to two-thirds of the Gross Domestic Product (GDP). In the mid-1980s, the Moroccan government underwent serious schemes of reforms and privatization encouraged by the World Bank and the International Monetary Fund. The reforms included selling state-owned properties, changing pricing policy to enhance local production, and devaluing the currency. Moreover, in 1999, the Moroccan government established a loan fund to encourage growth and competition among small busines...
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