The Global Financial Crisis (GFC) which occurred in 2007 and 2008, is considered by many economists, Singapore

Assignment Details:

The Global Financial Crisis (GFC) which occurred in 2007 and 2008, is considered by many economists as the worst crisis the world has experienced since the Great Depression in the 1930s. From a financial crisis that started in the United States of America (USA), the crisis eventually led to an economic downturn not only in the United States but also in many other economies worldwide. As a result, many countries experienced decline in production activities and increase in unemployment rate in the labor market.

As an Economist working for the World Bank, you have been tasked to conduct research on ONE country that has been affected by the GFC and write a report covering the following
key areas:

• Explanation on how the economy of the country chosen was affected by the GFC which started in the USA.
• Impacts of the GFC on the economy and society.
• Economic policies implemented by the Government in response to the crisis.
• The outcome of the policies implemented and the possible constraints faced in the process.