COVID-19's impact on the global economy. Mathematics & Economics.

IMPACTS OF COVID-19 ON GLOBAL ECONOMY
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Abstract
Coronavirus (COVID-19) is an infectious respiratory disease that plagued the world. The condition started as normal flu and spread to become a worldwide pandemic. Many people died from the disease, whose symptoms include difficulty in breathing and high body temperatures. Further, the pandemic posed a significant risk to people’s health, leading to business closings and total lockdowns in certain countries. COVID-19 deaths have increased at an alarming rate, with a recorded loss of more than 1.3 million lives worldwide. The paper examines and investigates how the global economy has been affected by the pandemic. The exercise will include factors contributing largely to the economy and how they have been affected. These factors include job losses, the increased unemployment rate, and the seasonal fluctuation of financial markets. Further, we will look at commodity prices, stock market indices, or the financial markets' performance together with the daily COVID-19 cases that will be used to forecast the state of the global economy.
IMPACTS OF COVID-19 ON GLOBAL ECONOMY
Introduction
The World Health Organization (WHO) describes a pandemic as “an epidemic occurring worldwide or over a very wide area, crossing international boundaries and usually affects a large number of people." The COVID-19 epidemic has affected many countries, especially America, Europe, and Asian-Pacific countries. Africa is the least affected by the pandemic based on current statistics. The outbreak has stressed humanity, and its symptoms and effects on the human body are not fully known. WHO advised people to observe social distance and wear a mask in public to minimize risks of infection. On the other hand, governments induced forceful lockdown and enforcement of social distancing to protect its citizens. The post-COVID-19 era will determine the global economy's stability if managed well as fiscal dues expected to rise compared to past years.
In the year 2003, Severe Acute Respiratory Syndrome (SARS) broke out. According to WHO, 8098 cases were reported worldwide, with 774 deaths. The organization took drastic measures to stop the spread, which is closely compared to COVID-19. The two diseases, SARS and COVID-19, have a common genome and characteristics. Although SARS lasted for less than a year, the financial markets were affected, and the business recorded losses. The Spanish flu impacts are also similar because of the devastating effects on the world economy, leaving more than 50 million people dead. The period between 1918 and 1919 horrible because more than 50 million people was affected, many succumbing to death. Across all world nations, schools were closed, businesses shut, and millions lost their jobs. Huge business losses were recorded in both domestic and international markets. This Spanish flue case is similar to COVID-19 impacts.
There will be a significant impact on the economy across the world, as many businesses deal with the ravages of COVID-19 in the market. Pandemics always influence financial markets. In a scenario such as a case between mid-Febr...