Question

SP 19- Improving Living Standards Imagine you have been appointed secretary of economic policy of a poor and developing nation. Now that you've been appointed, your major job is to advise and direct policy that will improve the living conditions in your country. Select an area of focus and provide 1-3 specific governmental pollicies you would create or use to improve economic conditions within your country. (At least one policy choice should include a healthcare or pharmaceutical strategy). 2- Provide your rationale for each, and how you believe they will limpact your nation's economy. (Use Y-C+-G+Nx to explain the impact for each policy) 3- Additionally, discuss one potential economic challenge to implementing your strategy

Answer 1

1 & 2. The three economic policy would be in the fields of

A. Health care - Health care is a important policy which not only takes care of people but also creates a lot of economic impact, like setting up of infrastructure, streamlining operations etc. It will also instill a confidence in the governance.

B. Education to all - Education is the backbone of any developed economy, education brings about improvement in knowledge, skills and specialized labor

C. Ease of doing business. - based on the ease of doing business new prospects in FDI is possible, the working of the governance if made friendly for business to prospher will usher and extract FDI and local business to prospher.

3. The major economic challenge in implementation of any policy selection and allocation of resources ( both people and money), for any policy the toughest part is to make it reach at the grass root level by passing through the bushes of governance and buracracy.