Description
Research and profile a policy within given context. The policy may be economic, social or political in nature. However groups are expected to apply microeconomic tools to assess the economic impact of the chosen policy. The choice of policy and context is left to groups to decide for themselves. They may choose to study a single policy within a specific country, presenting analysis of the situation prior to and after the inception of the policy. Alternatively they may choose to study the effect of similar policies in two different country contexts, presenting an analysis of why the effects may have differed. Finally, they may if they choose to, assess the possible impact of a new policy in a specific country context.
Grading Criteria (What constitutes a good assignment?): Grading criteria judges the following:
- Adequacy of research. Evidence of sufficient breadth and depth of research and sufficient and appropriate sources and data. Please cite at least 5 different sources, with at least one from a peer-reviewed journal or published book. Data sources must be clearly identified. The report must contain a reference list or bibliography.
- Use of Concepts: The report must make specific reference to microeconomic concepts, frameworks and theories introduced during the course.
- Graphs and Figures: The report must contain at least one graph and one figure. Where the graph may illustrate a concept or represent actual data relationships such as a trend-line, bar chart, scatter plot etc. The figure may be a map, photo, or drawing etc. Please label figures and graphs and cite data sources.
- References: Have you used in-text citation and listed all your sources? You may use Harvard, APA, MLA or any reference style, as long as it is consistent.
- Form: Is the report clear, professional, logical and well presented (verbal and written format)?
Content: Does the content adequately do what the assignment specifies? Is there adequate coverage of themes in general, and for the specific country (is there something important about a particular country that is neglected, or especially well-handled)? Is the analysis intelligent well constructed?
Explanation & Answer
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Running Head: THE ECONOMIC POLICY IN BOTSWANA
Economic policy in Botswana
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THE ECONOMIC POLICY IN BOTSWANA
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In the contemporary era, Botswana is one of the few groups of countries, and the only
one in Africa that has been able to achieve a sustained and rapid growth if its economy over an
extended period. Its economy has posted a very impressive economic growth of over 7 percent
per annum for the past three decades, a growth rate only comparable to one experienced by
country of Korea and Thailand (Rode et al., 2015). Of importance to note is that although this
growth was facilitated by the mining industry in the country, the country did not experience
profligate spending or lead to isolated enclaves. Thus a direct result of structural change in the
economy of the country, it continued to experience consistent growth. The government thus laid
a foundation for providing good health care and education for the government. Thus these
positive developments have come into being as a result of sound government economic policies
which have been geared towards diversifying the Economy of the country (Setlhogile, et al.,
2017).
Compared to many African states, the country has been hailed a beacon of hope and a
model of success in terms of its economic policies and the models it has adopted in its economic
management in the relation of most African economies. Though a mineral-based economy and to
be specifically fueled by the diamond mining, the country has risen for one of the poorest
countries at independence for the British in the early 60s to becoming a middle-income country
in mid-90s, a fate most of the other African countries were yet to achieve. And more so posting
an incredible economic growth, owing largely to its ability to avoid the “Dutch disease’, or in
other words the resource curse which is a menace in most of the mineral-rich countries.
However, judging from these microeconomic indicators, they have substantially been able to
conceal vulnerabilities as well as the structural weaknesses of its economy. With an economy
which is highly dependent on the diamond mining sector, that accounts for over a third of its
THE ECONOMIC POLICY IN BOTSWANA
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gross domestic product (GDP). And thus as a whole, the mineral mining sector in Botswana
accounts for over 75% of its national earning from its exports for all the minerals that it
produces. As the world leader in the production of Gem quality diamonds, the country has put
the measure to set up a government entity for trading its diamonds that is tasked with sorting,
valuing, marketing as well as distributing of the diamonds in the Country (Hambira, 2015). By
adopting such measures, the government seeks to ensure that more diamonds are polished with...
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