Impact of Economic Politics

Our LOI 3 is Impact of Economic Policies in Global Market. The related key concept is Causation.

We identified the two major types of Economic Policies. Namely,

• Monetary Policy

• Fiscal Policy

We analysed how the economic policies make laws to stabilise the economy and their major contribution to the growth of a country. Several other policies help to facilitate the international trade between countries.

As the international trade helps connect countries to exchange their goods, the market becomes more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.

We realised while this competition among big brands swings in the favour of consumers, it makes the small scale businesses suffer due to lack of technology and exposure to broader consumers. This ultimately leads to unemployment in rural settings.

We employed these two major economic policies' key functions to make charts with ideas from our mentors and friends.