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Country Report

Country Report

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This country report is about using the principles of macroeconomices learnd from lectures to compare two countries, one is " home " country and another is the country studied by myself.
This country report is about using the principles of macroeconomices learnd from lectures to compare two countries, one is " home " country and another is the country studied by myself.

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Published by: Undergraduate Awards on Sep 01, 2012
Copyright:Attribution Non-commercial


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To be filled in by student:
Module: EC102Student Name: Xin XuStudent Number: 68124325Chosen Countries: Germany Home: ChinaTarget:
 For grader’s use only:
Assignment EvaluationSubstance
1 2 3 4 3
Relevance/focus on questionsStructure/coherence of argumentRange of information covered
Style/Presentation 1 2 3 4 5
LiteracyLayout & structureReferences(1 = Very Poor, 2 = Inadequate 3: Satisfactory, 4: Good, 5: Excellent)
Letter Grade
        1        9        8        0        1        9        8        2        1        9        8        4        1        9        8        6        1        9        8        8        1        9        9        0        1        9        9        2        1        9        9        4        1        9        9        6        1        9        9        8        2        0        0        0        2        0        0        2        2        0        0        4        2        0        0        6        2        0        0        8
It is well- known that Germany is the largest national economy in Europe. The CIAsaid that Germany's affluent and technologically powerful economy - the fifth largestin the world in PPP terms - showed considerable improvement in 2007 with 2.6%growth. The GDP per capita (PPP) is GDP, Gross Domestic Product, divided by thesize of the population, which equivalent to the average GDP per person. As GDP is ameasure of a country
s aggregate output, the GDP per capita can eliminate the effectof the differences in population size which makes the figure more reliable and it isalso one of important determinants of human welfare. Comparing the GDP per capitain 2007 of Germany with China, it is not difficult to see the huge difference betweenthe two. The GDP per capita of China is $5,400 while the GDP per capita of Germanyis $34,100. The graph below shows the GDP per capita of Germany and China from1980 to 2008. We can see that Germany has been increased a lot during the 100 yearswhile China has only increased a little.GDP per capita from 1980 to 2008GDP percapita ($)YearReal GDP, which is different from GDP per capita, means the total value of all finalgoods and services produced in the economy during a given year. Using real GDPdivided by the number of people working we can have productivity. Only when theproductivity increases steadily, economy will keep going up. There are three reasonsof the growth of productivity. The first one is physical capital, which is defined ashuman-made resources. Things like buildings and machines are physical capital. Thesecond reason is human capital, which refers to the improvement in labour made by
0.00%1.00%2.00%3.00%4.00%5.00%6.00%7.00%8.00%9.00%10.00%11.00%12.00%2004 2005 2006 2007 2008Unemployment rateof GermanyUnemployment rateof China
education and knowledge. The third reason is technology, last but not the least,technology is probably the most important reason of the growth of productivity. Back to the two countries, Germany and China, it is not difficult to find that workers todaycan produce more than those in the past. Both of Germany and China have a higherproductivity than they had before.Compare other aspects, labour force and unemployment rate, between Germany andChina. The labour force is the sum of employment and unemployment. In 2007, Chinahas the largest labour force in the world, which is 800.7 million and the labour forceof Germany is only about 5% of China
s. Unemployment rate means the percentageof the total number of people in the labour force who are not employed. From the CIAwebsite, we can find that the unemployment rate of China is 4% in 2007 while theunemployment rate of Germany is more than twice of China
s, which is 9%. Theunemployment rate can indicate what conditions are like in the job market. A lowunemployment rate means jobs are easy to find in the job market. On the contrary ahigh unemployment rate indicates that jobs in the job market are difficult to find. Thegraph below shows the unemployment of Germany and China from year 2004 to 2008.We can see that in 2008, the unemployment rate of both countries has been decreasedcompared with year 2004. However, the unemployment rate of Germany only has alittle decrease while China has a very obvious decline which from 10% to 4%. Theunemployment rate of Germany had decreased from 2006 to 2007 and then suddenlyincreased during 2007.Unemployment rate of Germany and ChinaPercentageYear

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