To prevent the spread of the coronavirus, governments around the world implemented lockdown measures that shut down most of the economic activities and business around the globe, so many lost jobs and unemployment rate increased significantly. So many businesses, manufacturers and companies that are considered to be major sources of economic growth were hit badly, the global stock market crashed and all countries were isolated.
The International Monetary Fund has called this widespread economic restrictions “Great Lockdown”, which led to the shut down in economic activities and job loss and higher unemployment rate globally.
In this paper, students are to describe the history of pandemic, analyze impacts and implications of the pandemic, and critically assess different strategies that may be implemented to reduce the disease spread in the world. These strategies could include any of the fiscal, monetary or foreign exchange rate policies. The implementation of global environmental policies and international cooperation to prevent any disease widespread could be discussed as well.
In attempting the assignment, students are expected to apply concepts, tools and techniques introduced during the course. The assignment is designed to make students (i) apply economic analysis to a real world situation and (ii) search in current newspapers, periodicals, on-line, in order to find data and articles that illustrate a specific issue. (Individual term paper/case study assessing course Learning Objective 6.)