The issue and perspective of disease outbreaks seem little knowledge before I learned from the group
discussion
.
Furthermore
, I was tasked to
search
and discuss the economic impact and perspective of the outbreak of the virus. I was not used to
such
a learning experience and I was forced to learn how to
search
for relevant answers through advanced technology example the Internet. Apart from that, I had apprenticed from my peers where to
search
for information and relate it to my
discussion
. Using
googleCapitalize word
show examples
search
and reading the economics books and journals helps to build my
understandingsFix the agreement mistake
show examples
and
discussion
throughout the learning experiences.
During the meaningful educational experience, I understand that the impact of the virus is enormous to the world. The economic impact during a
pandemic
is an issue that not just the country but every individual. The key to the right lock is important as time and finances are crucial to the government. The fiscal and monetary policies must be in place in order to help the local economy.
Firstly
, export will be affected as workers and companies cannot export their products, it will definitely lower the aggregate demand and
therefore
decline the national income.
For example
, South African shoe manufacturers will not be able to export their products even if they lower their price level as ports are not open for shipping.
Furthermore
,
countries
that depend on tourism will be badly affected,
for instance
, Maldives. Airlines were not open and
countries
will have regulations to stop travelling from
countries
with a
pandemic
.
Domestic and international Investment will not grow as the
pandemic
will
effectCorrect your spelling
show examples
the
countries
with a
pandemic
. Economic growth is accompanied by changes in the structure of the economy. When there is a disease outbreak, new firms will not have opportunities to establish themselves, as
banks
wereVerb problem
show examples
not be able to loan them
money
.
Moreover
,
banks
may face
crisisAdd an article
show examples
,
for example
, the
USACorrect your spelling
show examples
banks
had given large numbers of
to low-income households on deals that fixed low repayments for a few years. During the
pandemic
, many would not be able to afford the repayments and
banks
may
bundlingChange the verb form
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mortgages together and
sellingWrong verb form
show examples
packages of mortgages to other
banks
or investors.
Moreover
, the government needs to spend more
money
to combat the virus
such
as temporary medical stations, medications and research to solve the epidemic.
This
even worsens the government’s
budgetsFix the agreement mistake
show examples
and may even create a deficit.
Therefore
, the government may need to increase the
money
supply in order to cope with the economic challenges.
Such
as the United States of America, quantitative easing may increase the
money
supply and help the economy in the short run. I
also
learned that country like Singapore, fiscal policy to subsidy citizens with monetary terms is helping them to withstand the
pandemic
in the short term. As
such
, unwinding the monetary stimulus will not be possible as
pandemicCorrect article usage
show examples
may be
long-termAdd an article
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issue.
I acknowledge that it is very important to rely on my own knowledge and express my thoughts from the fundamentals I learned during the lectures. Without much attention in class, I may not be able to fulfil the
discussion
. As I was a timid and shy girl, open
discussion
was not my cup of tea.
However
, through the journey, I now understand that expressing my thoughts is becoming a rewarding experience. I may use
such
skills in the future when in my career days.