Economics
De Paul University Economic Modelling in Regards to Corona Virus Discussion

DePaul University

Question Description

I don’t know how to handle this Economics question and need guidance.

attached is an article summary.

here is the link to the article: https://www.nytimes.com/2020/02/04/nyregion/corona...

You have to come up with 3 questions regarding the article and then answer them as well. Please number the questions when you answer them.

Make sure the questions you come up with are:

Questions are relevant and show knowledge of economic modelling as well as deep thought.


Unformatted Attachment Preview

Running head: ARTICLE SUMMARY 1 Article Summary Coronavirus in N.Y.: Without Chinese Tourists, Business Sags by James Barron, Published Feb. 4, 2020 James Barron’s article ‘Coronavirus in N.Y.: Without Chinese Tourists, Business Sags’ appears to be one of the most fuming articles in the news sites to trigger massive reactions from diverse people. Barron covers a sad story of businesspeople in New York and other tourist destinations around the world that are facing precipitous losses after the outbreak of coronavirus in Wuhan, China, late last year. Barron incorporates a variety of sources, both primary and secondary, to reach conclusive facts. From the article, Barron displays two major business outcries; firstly, loss of business revenues, and secondly lay off of workers. When the federal government and other national authorities banned travel flights from china, business people can count on their losses. According to Barron, Newark Liberty International Airport counts about $100,000 losses since the corona announcement. A Chinese Language Bus Tours has made 300 cancellations Manhattan to New York in a week. Tour hotels and travel agents have few bookings and empty rooms. On top of this, Barron provides many other examples of businesses facing the same problem. This is a severe financial burden to businesses in New York because they have to cover their operating costs. In other parts of the globe, the problem has been immersing, especially when nations suspended flights from china. Barron agrees that Chinese are the second leading foreign nationals making up the New York economy after British internationals. A significant drop in the number of Chinese tourists has caused a steep decline in business operations. Businesses have been forced to lay off some of their employees to maintain manageable costs of operation. In regard, the manager of China Tour Travel Services canceled bookings of about 200 people who were supposed to arrive last month. Two of the five full-time ARTICLE SUMMARY employees have to be laid off to wait for ‘better times ahead’ to continue. The menace of coronavirus is wrapping up businesses. 2 3 ARTICLE SUMMARY Reference Barron, J. (2020). Coronavirus in N.Y.: Without Chinese Tourists, Business Sags. Nytimes.com. Retrieved 27 February 2020, from https://www.nytimes.com/2020/02/04/nyregion/coronavirus-nyc.html. ...
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Final Answer

Attached.

Running head: ECONOMIC MODELLING

1

ECONOMIC MODELLING
Student’s Name
Course Name
Date

ECONOMIC MODELLING

2

ECONOMIC MODELLING IN REGARDS TO CORONA VIRUS
1. What are the impacts of Chinese tourist in New York businesses?
Chinese have been holding the second record of touring New York, either on tourist,
education or businesses basis. They brought in not only revenue to the respective tourist
attraction sites, but also their professionalism in the different economic sectors. Upon the
outbreak of the coronavirus in Wuhan, China, all the flights from China were cancelled
(Jantien A Backer, 2020). There were valid reasons for this measure but it had a negative
effect on the business men who majorly relied on the tourism sectors. Such sectors
...

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