QuestionWhat have been the most important determinants of economic growth in [your chosen country] over the past 10 years?

What have been the most important determinants of economic growth in [your chosen country] over the past 10 years?

Introduction

• Thesis: for example: “This essay will argue that the most important determinants of economic growth in ……………. are ………………… and …………………
• Definitions of short term and long term economic growth:
• What targets have the government had for economic growth over the last 10 years?
• What has actually happened to economic growth over that period?
• How does growth compare to similar/neighbouring countries
• What does the economic growth look like:
  • Steady or inconsistent
  • Rapid or slow
  • Focussed in particular geographic areas or spread across the country
  • Which components of AD have risen the most/the least?

Main Body

• What have been the causes of economic growth?
  • Cyclical fluctuations
  • Changes in the factors of production (land, labour, capital, enterprise)
  • Changes in the productivity of factors e.g. through better technology or education
  • Changes in government policy
  • Political change or instability
  • Natural disasters or other supply shocks
  • Volatility in world prices
  • Changes in the exchange rate

Questions for analysis and evaluation:

• Which drivers of growth have been the most important in different regions/industries?
• What has driven short term growth?
• What factors have been most important in driving long term growth?