Unit 1 - Individual Project Assignment Overview Type: Individual Project Unit:A Macroeconomics Perspective Due Date:Wed, 7/10/17 Grading Type: Numeric Points Possible:100 Points Earned:0 Deliverable...

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Unit 1 - Individual Project



Assignment Overview


Type: Individual Project


Unit:A Macroeconomics Perspective


Due Date:Wed, 7/10/17


Grading Type: Numeric


Points Possible:100


Points Earned:0


Deliverable Length:1,200 words, including research in essay format


View objectives for this assignment



Assignment Details




Assignment Description


Lester Scholl's administrative assistant calls you on Monday afternoon to set up a conference call between you and the chairman tomorrow morning to discuss the board's reaction to your list and to discuss your next task. You call the number she gave you, and Lester joins the call shortly after.


"I'm pleased with your work," he says. The board was impressed with your list of factors. Your ranking made sense because your explanations were well-written. I suspect they read everything you sent because it was concise and clear. Good job."


"Thanks," you say, and you feel relieved that your first assignment was well-received.


"Your list provided the basis for a good conversation about the manufacturing operations," he says. "We want to know more about the economy of both countries to further inform our decision-making process."


"That makes sense," you say. "The United States and South Korea hold many distinct economic factors that may affect AutoEdge’s long-term financial performance."


"Right," he says. "Your research on the two economies will give the board enough information so we can advise the new, incoming CEO."


"What should my research include?" you ask.


"In your research, you must take into consideration several macroeconomic factors," he says. "We want to see information about the gross domestic product (GDP), unemployment, interest rates, and inflation for both the United States and South Korea. Make sure your research is current; that is, no more than 6 months old."


"I'll get started right away," you say.


"Very good," he says. "Let me know if you have any questions, and I'll put you in touch with some of the other members of the board if I can't provide the answers you need."


"Great," you say. "Thank you."



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Answered Same DayDec 26, 2021

Answer To: Unit 1 - Individual Project Assignment Overview Type: Individual Project Unit:A Macroeconomics...

David answered on Dec 26 2021
122 Votes
1

The macroeconomic conditions of South Korea has been improving as can be seen from the
growth rate of country’s GDP by 1.1% during the period January 2017 to March 2017. Also, it
has been higher by 1% during the third quarter of
the year 2016. The change in GDP was
considered to be pretty much dependent upon the manufacturing sector which raised the GDP
figure during 2017 to be at $324,952 million. It made the ranking of South Korea to be at 10
th

position in terms of GDP out of 48 countries and in terms of GDP per capita the position of
South Korea is 22
nd
out of 48 developed and developing economies. During the same quarter of
last year, the rise in GDP is by amount $6,782,799 (South Korea GDP - Gross Domestic Product,
2017).
South Korea is a democratic economy which is not having amicable relationships with that of
Western governments in which there is higher participation rate by the voters with the given
policies of availing the opportunity to choose government. The unemployment rate in South
Korea is also low which revolves around 4% during the year 2017. The reason is higher trading
of goods especially electronic appliances in order to generate higher foreign exchange earnings.
The relation with the Western trade partners narrows down because of higher competition with
Chinese goods and similar East Asian trading partners. Earlier, it was considered to be a
developing country which had emerged into an industrial nation after the World War II. This is
because the country used to receive heavy aid amount from the Western countries and nations at
that time. It transformed the entire economy into a developed economy within a span of five
decades. The industries which majorly contribute towards the developed condition of the
economy consist of chemicals, telecommunications, steel making industry, automobiles
production and electronics. The total GDP comes out to be around $1.4 Trillion during the tear
2

2017 (FRED, Gross Domestic Product by Expenditure in Constant Prices: Total Gross Domestic
Product for the Republic of Korea, 2017).
Due to fall in consumption level in the economy, there was fall in demand of the domestic goods
as the exports have to undergo slower growth rate. In addition to the sluggish growth conditions
of employment, the growth in the manufacturing sector as...
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