Factors that determine long run economic growth
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Unit 6 Assignment: Economic Growth
1. Your Assignment should include a title page with the following information:
● Your Name
● Course Number ● Section Number ● Date
2. This is a research and writing Assignment, so no template is provided.
3. Your paper should follow APA formatting by including a title page, being in double-spaced paragraph format, with citations to your sources, and include a list of references on the reference page. Your paper should have a highly developed viewpoint and purpose, as well as, original and insightful. It
should be logical and unified, and show exceptional organization, style, and mechanics. Your paper should be written in Standard English with correct spelling, punctuation, grammar, and style.
4. Respond to the questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. Your answers should be highly organized, logical, and focused.
This Assignment will assess your knowledge based on the following outcomes:
BU204-3: Analyze factors that determine long run economic growth by conducting research using
macroeconomic indicators data.
GEL-1.02: Demonstrate college-level communication through the composition of original materials in Standard English.
GEL-6.05: Adapt research skills to discover and sort relevant sources to complete tasks.
PC-4.1: Assess the value of multiculturalism and diversity in a global environment.
In this Assignment, you will take the role as an assistant researcher to conduct a study on the major determinants of the variations in the economic growth of countries. Your research must be detailed, and
presented in a 4-page research paper that analyzes factors that indicate the disparities of economic growth among countries. In addition, you will discuss the value of recognizing and accommodating multiculturalism and diversity in a globalized economic environment and their roles in promoting long-run
economic growth and development.
The below resources will help you familiarize yourself, or discover, how multiculturalism and diversity play a significant role in aiding economic growth and development. Then, you will conduct your own research
to analyze factors that determine the disparities of economic growth among countries. Diversity has become the characteristics of the majority of the countries in the world. Globalization and
economic interdependence of countries calls for understanding and accommodating diversities. Economic development theories and empirical studies also widely discuss and debate the impacts of multiculturalism and diversity on economic growth and development. The positive roles of multiculturalism and diversity in
economic growth and development are praised in democratic countries that have cultivated systems that accommodate and capitalize on diversities and multiculturalism (see the article below).
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Economic benefits of cultural diversity. (n.d.). SGS Economics & Planning. Retrieved from
https://www.sgsep.com.au/publications/economic-benefits-cultural-diversity
On the other hand, developing countries in Asia, Africa, and Latin America, cultural and religious diversities are the internal instability, polarization, conflicts, disintegration, etc., which have adverse impact on economic growth and development. Since the developing countries do not have systems that
effectively accommodate multiculturalism and diversity and dominant ethnic groups control power and resources, they lead to the lack of equal opportunities and significant socioeconomic gaps in countries (see the links below for research examples on the issues for Latin America, Asia, and Africa).
Arocena, F., & Porzecanski, R. (n.d.). Ethnic inequality, multiculturalism and globalization: The cases of
Brazil, Bolivia and Peru. Retrieved from
http://www.multiculturalismoenuruguay.com/Docs/Articulos/IJCSArocena.pdf
Kivoto, E. (n.d.). Ethnic conflict and its impact on economic development in Africa: A case study of Kenya.
Retrieved from
http://www.academia.edu/11302119/ETHNIC_CONFLICT_AND_ITS_IMPACT_ON_ECONOMIC_DEV ELOPM ENT_IN_AFRICA_A_CASE_STUDY_OF_KENYA
Read from the Library: Donnelly, R. (2015). Tensions and challenges in the management of diversity and inclusion in IT services
multinationals in India. Human Resource Management, 54(2), 199–215.
Based on this background information, and research you conduct using the Library and Internet, identify key factors that determine long-term economic growth by comparing two different countries of your choice.
One advanced economy such as England, Canada, Germany, etc., and the other country is considered a developing economy, such as Angola, Afghanistan, Bangladesh, etc.
Conduct research to determine how economically different the two countries are, by examining at least five different economic indicators, such as gross domestic product, gross domestic product per person, etc., and the differences in at least three of their social indicators, such as population, population per
square kilometer, etc. Then, expand your research into the cultural differences, including political structure, average education, and social influences, to determine why these two countries are so different economically.
The first half of your paper will describe, how you determined what data to collect, the sources of that data, how you sorted that data, the time periods that the data describes, how you chose to analyze the data, and your resulting conclusions regarding the differences between these two countries. The second
half of your paper will focus on your analysis of the cultural, social, and political diversity between these two cultures and how these differences contribute to the economic differences you found based on specific evidence from the data you collected.
Use the Library and databases to conduct your research to identify the key factors that determine long- term economic growth. You can find the most up-to-date reports on the economic growth trends of
different countries under the World Bank website below. World Bank. (2017). World development indicators. Retrieved from http://data.worldbank.org/products/wdi
After you have conducted research and read from the above website, access the “Data & Research” tab in the World Bank website and compare growth rates between two countries of your choice. Specifically,
select one advanced economy, and select one developing economy.
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Download their data for five major economic indicators, and three major social indicators from the most recent five years. Then, identify and describe possible factors that may explain the differences between
the GDP growth rates and long-term economic growth of the advanced and developing economies for the countries you selected.
Conclude your paper by discussing the value of recognizing and accommodating multiculturalism and diversity in a globalized economic environment and their roles in promoting long-run economic growth. In line with the developed and developing countries you selected for your research, discuss the benefits and
challenges, and recommend solutions in regard to multiculturalism and diversity in the two countries and their impacts on the economy.
Directions for Submitting Your Assignment
Before you submit your Assignment, you should save your work on your computer in a location and with a file name specified by your instructor, or, if none is specified, then a file name that you will remember. Make sure your Assignment is in the appropriate format (Microsoft Word), then, when you are ready, you
may submit to the Dropbox.
Unit 6 Assignment: Economic Growth Points Possible
Points Earned
Content and Analysis
Described what approach in determining what data to collect, the sources of that data, how the data was sorted, the time periods that the data describes, the approach chosen to analyze the data, and the resulting conclusions regarding
the differences between the two chosen countries.
10
Correctly identified a developed and a developing country. 10
Correctly identified economic and social indicators data. 10
Provided a detailed discussion of why the growth rates differ across these
countries.
10
Correctly explained relevant cultural, political, and social factors that point to the cultural differences between both countries.
10
Assessed the impact of cultural diversity on relative economic development of both countries and how these differences contributed to the economic
differences found based on specific evidence from the data collected.
10
Conclusion: Discussed the value of recognizing and accommodating multiculturalism and diversity in a globalized economic environment and their
roles in promoting long-run economic growth.
10
Submitted a 4-page research paper. Paper has a highly developed viewpoint and purpose, as well as, original and insightful. It is logical and unified, and shows exceptional organization, style, and mechanics. Written in Standard
English with correct spelling, punctuation, grammar, and style. Proper APA formatting.
5
