Week 8 Final Case Study: Regional Macroeconomic Analysis Assignment Description Evaluate at least five macroeconomic indicators for the region where your state is located. Examples of macroeconomic...

Running Head: REGIONAL MACROECONOMIC ANALYSIS    1
REGIONAL MACROECONOMIC ANALYSIS     17
REGIONAL MACROECONOMIC ANALYSIS
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Table of Contents
Introduction and Region Evaluation    4
Overview of Georgia    4
Five Macroeconomic Indicators    4
GDP    4
Employment Indicators    5
Healthcare System    6
Poverty    6
Education System    7
Major Challenges faced by Georgia    8
Major Strengths that make Georgia Unique    9
Data and Analysis    10
Data    10
GDP:    10
Unemployment:    10
Poverty:    11
Education System:    12
Health Care System:    12
Analysis of the Five Macroeconomic Indicators in Terms of Opportunity or Challenge    12
GDP    12
Employment Indicators    13
Poverty    13
Health Care System    13
Education System    14
Strengths and Challenges regarding Business, Industry and Markets    14
Solution    15
Suggestions in Terms of Economic Policy    15
Anticipating the Outcomes    16
Conclusion    16
References    17
Introduction and Region Evaluation
Overview of Georgia
The US has been considered as a developed country and its market is considerably high. The GDP of the country has been measured by $ 21.439 trillion in the year, 2020. The GDP of Georgia is about $ 16.209 billion in 2018. The population of Georgia, one of the cities of the US has been recorded to about 10617423 in the year 2019. The GDP growth has been recorded by 2.4% in the year, 2019 and the rate was 2.4% in 2018. Similarly, the unemployment rate of the country has been recorded by 5.3% as per counting by October 2019.
Main industries of the country have been recorded by insurance and financial services, mining, healthcare sectors, social assistance, manufacturing, technical services and professional (BBC, 2019). However, the manufacturing and the Information Technology has recorded to be the major industries in Georgia. Georgia has a federal budget and it deflects in the year, 2017/2018. It was expected to be more than $ 88 billion but falling $84.5 billion. The return to a surplus has been expected by $5.2 billion in the year, 2019.
Five Macroeconomic Indicators
GDP
GDP is the term that defines the gross domestic product of the country. In this context, GDP has been measured by a specific procedure. In this case, the rate is count by the measurement of the total market value of the entire goods and the services of the country. The equation fort measuring or calculating GDP is GDP= gross investment+ investment of the government+ private consumption+ total expenditure of Government+(exports-import). However, the growth rate of GDP executes the growth of the country (Neely, 2018). The gross domestic product rate has been recorded $ 16.209 billion (The World Bank, 2020).
Figure 1: GDP Growth in Georgia
Employment Indicators
Employment indicators conducted with the rate of unemployment and labour market that plays a significant role in the financial growth of the country. In the context, of Georgia, it has been found that Georgia has experienced 3.4% of the unemployment rate that affects the overall economy of the country (Trading Economics, 2020). About 88% of employment is associated with the service sector, about 7.2% of employees are engaged in the construction sector, and however, the percentage has been recorded by 10.5% in the manufacturing sector where only 2.5% of labours are associated with agriculture.
Figure 2: Labour Force Participation Rate in Georgia
Healthcare System
Georgia’s governing body has been involving them to provide a free health care system for their citizens. However, the governing body of Georgia has paid keen attention to provide a lower cost of medicine for their population for a better result. A universal health care system has been obtained the Georgian government and it includes Medicare system into the entire procedure of the health care system in their country (Rukhadze, 2013).). The governing authority and medical officers focused that about 2% of Medicare levy. This is the reason the health care system of Georgia has recorded as one of the best care services all around the world.
Figure 3: Healthcare Trends in Georgia
Poverty
The poverty rate is one of the prior indicators in the macro economy that executed the financial status of a country. Per capita income of the entire population of a country has considered as the major element to count the poverty of the country. In the context of the Georgia’s economy, poverty has been considered by 21.9 % and that reflects the poor side of the entire economy of Georgia (Asian Development Bank, 2017). Several people still are living in deep poverty.
Figure 4: Poverty Rates in Georgia
Education System
The education system of Georgia has been categorized by three sectors such as primary, secondary and tertiary education. It is based on three tired education system. Primary education system belongs to an early hood education system where the secondary education system prefers for further education in Georgia and territory education children have introduced territory education (The World Bank, 2020). Regarding the territory education system, the entire responsibility belongs to states and territory. Total education rate in Georgia is about 88%.
Figure 5: Education Rate Year by Year in...