Economics Assignment: Analysis of Singapore's Economic Performance

This economics assignment provides a detailed analysis of Singapore's economic performance from 2008 to 2017, examining key indicators across three major aspects: output, labor market, and price levels. The report begins with an introduction to Singapore's open free market economy, highlighting its reliance on the external sector and key economic sectors. The analysis of production output performance focuses on Gross Domestic Product (GDP), GDP growth rate, and GDP per capita, illustrating trends and the impact of government policies. The labor market analysis explores types of unemployment, unemployment trends, and government measures to promote employment, including programs like the Career Support Program. The price level analysis examines inflation trends, causes of inflation (demand-pull and cost-push), and government measures for price stability, particularly the use of monetary policy and exchange rate controls. The report concludes with an assessment of Singapore's economic resilience and the effectiveness of its macroeconomic policies, emphasizing the role of innovation and government support in maintaining stable economic performance.