Sector you will be using - manufacturing industry in jamaica economy. ( you should only answer question E & F)
QUESTION The objective of this assignment is to review the growth and development of the main sectors in the Jamaican economy. This economy like its neighbours in the Caribbean is quite vulnerable to economic shocks, limited infrastructure, high public debt, security threats, pandemic among other problems that has impacted its growth over the years. Also, problems of crime, scamming and corruption remain significant concerns in Jamaica. As junior Economists you are required to use statistical, graphical, pictorial evidence to make a presentation to your class on a selected sector which you consider to the most important in the growth and development of the Jamaican economy. Note you are to address the following questions below. (NB. No two groups are to present on the same sector.) a) Provide a profile using the most recent economic information for the selected sector. (This should include the purpose of the sector, major firms/ industries linked to the sector, purpose in relation to the growth of the economy etc. b) Identify the Minister responsible for the sector, location of the office, Permanent Secretary and provide some important information about the ministry c) State three things to be aware of when entering the market for this country example barriers to market/sector entry and local requirements. d) Illustrate the share of GDP that the selected sector has contributed to the Jamaica's economy over the last 10 years. e) Identify a development that has taken place in this sector over the last ten years that has shown to contribute extensively to GDP for Jamaica f) Explain how a positive and a negative economic shock that have affected the growth rate of your selected sector during the during the pandemic period (2019- ) g) Discuss in detail one specific measure/ policy the Ministry responsible for your sector has implemented during the fiscal years 2019-2021 to stimulate the growth, recovery and development in the sector. Student's should use one monetary and one fiscal policy that has used by the administration to affect the sector and by extension GDP in detail. h) Students should explain in detail (where necessary the actual measures implemented in THEIR community and provide evidence -website, flyers etc.) i) As junior Economists, you are required to recommend to the Prime minister a reason why more funds should be provided to the ministry responsible for your sector during the upcoming Budget for the Fiscal year 2022 to improve the country's growth prospects