Econ 2
Programme: Economic Policy and the Global Environment (BBS22 FT Singapore)
Lecturer: Mr Wong Hea Hoo
Name: Esther Woon Pei Jing
Student ID: CT0201557
UCD ID: 1420 8934
Word Count: 2061
Table of Content
Introduction……………………………………………………………………………...…..3
Rationale for promoting economic growth in Singapore………………………………….5
Small Medium Enterprises Development
Tourism
Education Hub and Standard of Living
The challenges for Singapore economics growth in the next 50 years……………………7
Low Birth Rate and Aging-Population
Limited Land
Strategies and Programs for Singapore economic grow planning in 55 years…………...9
Baby Bonus
Childcare and maternity benefits
Speed Dating Program
Sea Reclaim to solve the limited land problem
Conclusion...…………………………………………………………………………………11
Reference List……………………………………………………………………………….12
1. Introduction
The common definition of economy sustainability is the achievable level of economic production indefinitely. A strong and sustain economic growth means that a national production in the economy that is consistent with the accomplishment of macroeconomic goals, such as full employment, low inflation and economic growth. Sustainable economic growth is where the standards of future’s living will not be agreed by the current growth in production.
Diagram 1.1 (Singapore, 2014)
According to the annual GDP growth (Diagram 1.1), Singapore has the positive growth rate beside -6.3 in year 2012 and -0.3 in year 2014. The year 2012 is affected by of Eurozone Crisis. In 2014, although there is a downward tendency, but expert believes that it will rise up. The positive data show that Singapore has been growing rapidly and became one of the highest GDP per capita in the world which is number of $69050.
Diagram 1.2 (Economic, 2014)
According to year 2013 to 2014, Singapore’s unemployment rate is 1.8 to 2.0 (Manpower, 2014). This been known as low unemployment rate by international standard. In these five years, there was sustained growth in
Lecturer: Mr Wong Hea Hoo
Name: Esther Woon Pei Jing
Student ID: CT0201557
UCD ID: 1420 8934
Word Count: 2061
Table of Content
Introduction……………………………………………………………………………...…..3
Rationale for promoting economic growth in Singapore………………………………….5
Small Medium Enterprises Development
Tourism
Education Hub and Standard of Living
The challenges for Singapore economics growth in the next 50 years……………………7
Low Birth Rate and Aging-Population
Limited Land
Strategies and Programs for Singapore economic grow planning in 55 years…………...9
Baby Bonus
Childcare and maternity benefits
Speed Dating Program
Sea Reclaim to solve the limited land problem
Conclusion...…………………………………………………………………………………11
Reference List……………………………………………………………………………….12
1. Introduction
The common definition of economy sustainability is the achievable level of economic production indefinitely. A strong and sustain economic growth means that a national production in the economy that is consistent with the accomplishment of macroeconomic goals, such as full employment, low inflation and economic growth. Sustainable economic growth is where the standards of future’s living will not be agreed by the current growth in production.
Diagram 1.1 (Singapore, 2014)
According to the annual GDP growth (Diagram 1.1), Singapore has the positive growth rate beside -6.3 in year 2012 and -0.3 in year 2014. The year 2012 is affected by of Eurozone Crisis. In 2014, although there is a downward tendency, but expert believes that it will rise up. The positive data show that Singapore has been growing rapidly and became one of the highest GDP per capita in the world which is number of $69050.
Diagram 1.2 (Economic, 2014)
According to year 2013 to 2014, Singapore’s unemployment rate is 1.8 to 2.0 (Manpower, 2014). This been known as low unemployment rate by international standard. In these five years, there was sustained growth in
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