The outbreak of the COVID-19 coronavirus pandemic which became publicly
recognised in end-January 2020 has affected many economies worldwide. The
pandemic has impacted the global hospitality and tourism industry directly and
has been disrupting global supply chains since then, adversely affecting many
countries around the world.
As a Researcher working for a local Academic Institution, you have been tasked to
conduct a research and prepare a 2-section report on the impact of the COVID-19
coronavirus pandemic on ONE (1) of the following countries:
a) Singapore
b) Malaysia
c) China
d) Spain
e) United States of America
In the first section of the report, discuss the following:
1) Identify and research on ONE (1) product which saw extreme changes in demand
and/or supply during the pandemic. Assuming that everything else remains
constant, evaluate and illustrate using the demand/supply model(s) to predict
how the equilibrium price and quantity of the product will change. (10 marks)
[Suggested word count: 200 words]
2) Research and describe how the pandemic had affected ONE (1) key industry in
the country chosen. (15 marks)
[Suggested word count: 500 words]
In the second section of the report, discuss the following:
1) How the pandemic impacted the production activities of the country. You may
research and discuss based on the trends of relevant GDP-related indictors
before and after the outbreak of the pandemic. (15 marks)
[Suggested word count: 500 words]
2) How the pandemic impacted the labour market by studying the trends of labour
market indicators such as unemployment rate and labour force participation rate.
[Suggested word count: 500 words] (15 marks)
3) How the pandemic impacted the price level in the economy by studying the
inflation rate trend in the economy. (15 marks)
[Suggested word count: 500 words]
4) How the government tried to reduce the adverse impact of the pandemic. Identify
and elaborate on the economic measures implemented by the government and
explain what the policy were meant to achieve. (15 marks)
[Suggested word count: 500 words]