In the first case study, "Economic Systems and Social Welfare," you will delve into a country known for its comprehensive social welfare system. By evaluating how the country's economic system influences the funding, effectiveness, and sustainability of its social welfare programs, you will uncover the intricate relationship between economic structures and societal well-being.

Instructions: Select a country known for its comprehensive social welfare system, such as Sweden or Norway. In this case study, students will examine how the country's economic system influences the funding, effectiveness, and sustainability of its social welfare programs.

Explanations and Analysis:

1. Economic System Impact: Explore how the chosen country's economic system (e.g., mixed economy) shapes the allocation of resources for social welfare programs. Discuss whether the country's economic philosophy prioritizes social equality, individual initiative, or a balance between the two.
2. Funding Mechanisms: Analyze the funding sources for social welfare programs, including taxes, government revenues, and contributions. Discuss how the economic system affects the availability of resources for social welfare initiatives.
3. Effectiveness and Outcomes: Evaluate the effectiveness of social welfare programs in achieving their intended goals, such as reducing poverty, ensuring healthcare access, and promoting education. Investigate how economic incentives and disincentives within the economic system impact program outcomes.
4. Sustainability: Consider the long-term sustainability of social welfare programs. Analyze how economic growth, demographic changes, and shifting economic priorities affect the ability to maintain robust social welfare initiatives. Your submission should be around 800 to 1000 words, providing a comprehensive analysis of the case. (Please refer to the "Assignment Instruction" file on BightSpace under the course welcoming section for the assignment rubric)

Example: Country: Sweden

Analysis:

Economic System: Sweden follows a mixed economy with a strong welfare state. The economic system combines market elements with a comprehensive social safety net.

Funding: Social welfare programs in Sweden are primarily funded through high taxes, particularly income taxes and payroll taxes. The economic system's emphasis on income redistribution contributes to the availability of resources for social welfare.

Effectiveness: Sweden's social welfare programs have been effective in reducing poverty rates, promoting universal healthcare, and ensuring access to quality education. The economic system's focus on social equality has contributed to these positive outcomes.

Sustainability: The sustainability of Sweden's social welfare programs is supported by its consistent economic growth, prudent fiscal policies, and a commitment to maintaining the welfare state. The mixed economy provides a stable foundation for funding these programs over the long term.