ECON 520 Managerial Economics Project February 8, 2022

Student name……………………………………………….
Student ID………………………………………………..
Instructor: Prof. Amer Al-Roubaie

Due: the project is due March 20, 2022.

TECHNOLOGY AND SOCIETY
(ILOs: A1, A2, B2, B3, C1, C3, D1, D4)

Technology lies at the center of the 21st century and its dilemmas. It has been
assessed for its uses and limits, advantages and disadvantages. The significance
of any technology is found in what technology does. However, new technologies
tend to impact society unevenly. Definitions of technology vary widely, but
most student of the subject agree that technology has to do with operations of
making and doing. Technology is found throughout all institutions and sectors of
society. The most single fact about man’s recent technological power to import,
organize, and degrade energy is its exponential rate of growth. Phenomenal
increases at exponential rates are in several important dimensions of life-
production, pollution, population, scientific findings, energy releases, speeds of
travel and communication.
Technology is one of the core inputs used in production function helping firms
producing more goods and services, making more money and enhancing market
competitiveness. Technology is among the main issues that concern for
managers and are given high priority in decision making. In managerial
economics, technology enhances firm capabilities to reduce costs and increase
profits. As our textbook points out that “differences in technology give rise to
difference in production techniques across industries.”
The term “frontier technologies” is in reference to the new technologies driving
the Fourth Industrial Revolution. They are expected to impact every aspect of
human endeavors including the social, economic and environmental
dimensions. Countries are asked to adopt and adapt with the new technologies
to avoid being left behind. Take for example, Bahrain. It is a small country with
limited resources to foster economic growth and support sustainable
development. Questions can be asked about the role of technology in future
development of the country.
Based on the above statements, students are asked to write projects that
highlight the role, the impact and the contribution of technology to
development. You are free to choose among the topics listed below or you may
have your own topic of interest to share.
- Technology and society
- Innovation and economic growth
- Capital intensive and labor employment
- Artificial intelligence and future production
- The fourth industrial revolution and income distribution
- Human capital resources and technological advancement
- Skills requirement and technology adoption
- Smart energy and smart cities
- Technology and industrial growth
- Digital technologies and inclusion
- Ethical dimensions of technology
- Robotics and industrial growth
- Production process and technology
- Technology and sustainable development
- Bahrain prospects joining the Fourth Industrial Revolution
The project must not exceed 10 pages and include:
- Introduction
- Short review of literature
- Theoretical framework
- Analysis of the theme
- Conclusion
- References
In economic research data is important. Any search and use of data will add
value to the project.