logo

Economic Performance Analysis Singapore

15 Pages2799 Words75 Views
   

University of Florida

   

Managerial Economics (ECP 5702)

   

Added on  2020-03-07

About This Document

This assignment Include Output performance analysis, Real GDP, real GDP growth rate and per capita real GDP, Labour market analysis etc. In the global economy, Singapore is considered one of the fastest-growing countries. This Present paper conducts a brief analysis of the last ten years' performance trend of the Singaporean economy. In terms of real GDP growth rate, Singapore stands as an instance to the global economy, Growth rate though tumbled at times global recession in 2008 quickly regained its growth trend.

Economic Performance Analysis Singapore

   

University of Florida

   

Managerial Economics (ECP 5702)

   Added on 2020-03-07

ShareRelated Documents
Running head: ECONOMIC PERFORMANCE ANALYSIS; SINGAPOREEconomic Performance Analysis; SingaporeName of the StudentName of the universityAuthor note
Economic Performance Analysis Singapore_1
1ECONOMIC PERFORMANCE ANALYSIS; SINGAPORETable of ContentsIntroduction................................................................................................................................2Output performance analysis......................................................................................................2Real GDP, real GDP growth rate and per capita real GDP....................................................2Performance trend in Singapore.............................................................................................3Government measure to boost output performance...............................................................5Labour market analysis..............................................................................................................6Unemployment trend based on unemployment rates.............................................................6Unemployment and types of unemployment in an economy.................................................7Types of unemployment in the economy of Singapore:........................................................7Measures to achieve full employment....................................................................................8Price Level Analysis..................................................................................................................8Description of inflation trend.................................................................................................8Definition of inflation and typical causes of inflation...........................................................9Causes of inflation..................................................................................................................9Causes of inflation in Singapore..........................................................................................10Government measures to attain stable price.........................................................................10Conclusion................................................................................................................................11References................................................................................................................................12
Economic Performance Analysis Singapore_2
2ECONOMIC PERFORMANCE ANALYSIS; SINGAPOREIntroductionIn the world economy, Singapore is considered as one of the fastest growingcountries. This is one country the successfully devices free market policy. Governmentintervene only in areas where free armlet fails to work efficiently. The combi8nation of freemarket and government intervention together maintains a stable economic environmentwithin the nation. Because of its small size, the country highly depends on the externalsectors. Export has a notable contribution in national income. Present paper conducts a brief analysis of last ten years performance trend ofSingaporean economy. Performance of some major economic indicators is evaluated. Theseinclude output performance, performance of labour market and finally stability in price level.Output performance analysisReal GDP, real GDP growth rate and per capita real GDPOther than gross domestic product (GDP) there is no better indicators that can traceoverall output performance under a single measure. GDP is a composite measure thatrepresents values of goods and services produced in an economy in the accounting year. GDPexpresses these values in monetary terms. In order to know monetary values either the marketprices of the ongoing year or market values of a fixed year is considered. GDP computedusing fixed year’s market value is termed as real GDP (Mankiw, 2014).. Fixation of marketprice helps to offset the inflationary impact and thus presents the true picture of output in theeconomy. Percentage change in GDP is known as growth in output, which actually representeconomic growth rate. Growth in real GDP is mostly used to capture real economic growth.Other than income and output, an important indicator of living standard of people in theeconomy is their average income. Average income is expressed as per capita GDP. Per capita
Economic Performance Analysis Singapore_3
3ECONOMIC PERFORMANCE ANALYSIS; SINGAPOREGDP is computed by total national income by total population (Parente & Prescott, 2015).Real GDP, growth in real GDP and per capita real GDP all are thus important for tracingoutput performance.Performance trend in SingaporeFigure 1: GDP in Singapore(Source: tradingeconomics.com)2006200820102012201420162018-2024681012141618Real GDP Growth RateReal GDP Growth RateYearRealGDPgrowthrateFigure 2: Real GDP growth rate in Singapore
Economic Performance Analysis Singapore_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Economic Performance Analysis of Singapore (2005-2014)
|15
|3197
|181

Economics Assignment: Output Performance, Labor Market, and Price Level in Singapore
|14
|2490
|173

Economics Assignment: Production, Labour Market, Price Level Analysis
|12
|3047
|157

Economic Performance of Singapore
|16
|2894
|97

Analysis of Output Performance of Singapore
|13
|2800
|34

Economics Assignment 2022
|16
|3436
|17