Economic policy advisor to the Saudi government

You are an economic policy advisor to the Saudi government. Imagine the oil price will keep declining for the next 5 years (until 2025). Let’s assume that the average oil price will be $30 with average production of 10 million barrels daily for the next 5 years. Each year starting from the next year will have different government expenditure while the oil revenue will be the same for the 5 years. As an economist, you need to think how this shock can affect the whole economic growth for the next 5 years including: 1) the fiscal sector, 2) inflation (domestic prices) and unemployment, 3) monetary and financial sector, 4) external sector (Balance of Payments), 5) the exchange rate, 6) and the social reaction in general after all the negative or positive impacts.

You need to write a policy note/analysis discussing the 6 macroeconomic elements in order to propose a certain policy direction that the Saudi government needs to take. Please include supportive graphs and tables to deliver a clear message. Please cite your work.

 

Sample Solution

Belcher deeply believes, “This type of collaboration benefits the project and gives team members an outlet to bounce around ideas to find the best fit.” . Let’s say there are several good advantages about working in a group, but a member unsure which is the most appropriate one, so it gives other members an opportunities to give their ideas or opinions to help finding the best fit. A mistake that usually occurs is the project drifts off the topic; however, each member gives out good ideas that orient the project help it purposely stay on the topic. In a spirit of cooperation, be prepared that it may not work as planned, find alternative solutions. Also the group can be seen as a resource. Members work on their tasks , but further information might be needed, according to their experiences and knowledge, they will help.

Moreover, working in a group is about teamwork, people with different skills work on sudden parts that they are really good at and can get help whenever they need. Chitra Reddy demonstrates, “To solve complex problems and to complete difficult tasks, team works better than a individual.”. It drives people crazy when working in a group where there is no talking and freedom. People management skills that a group develops in order to communicate. Teamwork is not just work; it is about communication and motivation. People can’t just sit around when other people are working; there gets to be a purpose that they work in a group. When working in a group, people have to have a problem to solve; otherwise, they just aimlessly mess around. As it says earlier, people with different skills work on sudden parts does not mean they are good at those let them work on it individually. Teamwork is where members need encouragement to put their views across, make it exciting , interesting, and motivating.

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