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Labour is a measure of the work done by human beings. It is compared with such other factors of production like land. Labour function through the interaction of workers and employers. Labour economics looks at the suppliers of labour services (workers) and the demanders of labour services (employers).  ''Services now employ the largest number of Ukrainian workers, though a significant number of labourers continue to work in agriculture and manufacturing.'' This shows that Ukraine has many labours who works and are contributing to the Ukraine economy to grow. As it leads to Ukraine's GDP to increase as more people are working.

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Capital is the country's man made resources and not money. Products manufactured in Ukraine are ferrous metals, transportation equipment and other types of heavy machinery, a variety of chemicals, food products, and other products. Ukraine has a major ferrous metal industry and they are the top producers in the world. The country's heavy industries produce heavy vehicles, other automobiles, railway tracks, delivery trucks, seagoing vessels hydroelectric and thermal steam and gas turbines, and electric generators. Other than that, they also produce agriculture equipment which help to continue the living of people in the country. Plants in Ukraine produces army equipment and it later got the rights to make the army equipment. The Ukraine chemical industry consist of coking and the production of coke products, as well as mineral fertilizers,sulfuric aid, synthetic fibres, caustic soda, petrochemicals, photographic chemicals and pesticides. One of the most crucial products of Ukraine food processing industry is sugar. The other food products produced are beer, wine and other beverages too.

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Land is the country's natural resources. Ukraine have rich mineral resources like iron, steel and manganese. Iron ore reserves are situated in the vicinity of Kryvyy Rih, Kremenchuk, Bilozerka, Mariupol, and Kerch which form the largest iron and steel industry in Ukraine. Ukraine also have the world richest manganese ore area located at Nikopol. Thermal power of Ukraine is extracted from the large reserves of brown coal. However the coal mines of Ukraine are the deepest and they are the most dangerous of all in Europe. Methane related explosion have occurred before and taken the lives of numerous Ukrainian miners. Ukraine heavily depends on fossil fuels and nuclear power to generate electricity. There was once a severe nuclear accident which triggered a powerful environmental movement in Ukraine and give the drive toward political independence from the Soviet Union.

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-Claire Yeo
-Jacqueline Goh
-Eve Ang
-Santhny

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Gross Domestic Product which is known as GDP  is defined as the monetary measure of the market value of all the final goods and services produced in a period of time, often annually or quarterly. In this Ukraine case, the GDP is calculated quarterly from 2015-2018. The GDP is calculated by Expenditure Approach and Income Approach. Expenditure approach is a better and easier approach to use to calculate the GDP as it requires the Consumption, Investment, Government Spending, Exports and Imports. (C+I+G+(X-M)).
Looking at 2018, the first quarter of 2018, the GDP increased to 3.1% from 2.2%- the last quarter of 2017. In the second quarter of 2018, the GDP further increased to 3.8%. This may be due the Consumption by the household is more, The government spending increased, The investment also got higher, The imports also started to rise. However the GDP decreased to 2.8% in the third quarter of 2018. This maybe due inflation rate increasing- resulting to the price of the goods increases. Due to this, the consumption by the household will be lesser, resulting to the GDP to decrease. Fortunately, the GDP started to increase in the last quarter of 2018 with 3.4%. This resulted in Ukraine's economy to grow well.

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From Article

Demand-side pressures are manifested through an elevated core inflation – 8.7% y/y at end-September. Additionally, more expensive global crude oil (before the price reversal of recent weeks) spilled into the local market, pushing fuel prices
Surging salaries are adding to price pressures in many service segments.

Cost-Push Inflation
The increase in the cost of production is the primary reason that drives cost-push inflation.
Increases in the cost of production can come from different sources.
Cost-push inflation occurs when there is competition for, or shortage of, resources to produce goods and services.
In Ukraine, the introduction of a more expensive crude oil led to an increase in the cost of production. This increases the price of goods and services in the country to compensate the increase in production.
An increase in salaries also leads to inflation, as when salaries increase, firms cost of production increases, resulting in prices of goods increases. Thus, inflation occurs.

Real Income
Real income refers to the number of dollars received (nominal income) adjusted for changes in the Consumer Price Index (CPI);
which also refers to the purchasing power of your nominal income.
Thus, when real income increases, increase in purchasing power of household.

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Consumption
GDP increase in the first and second quarter. This is because there is an increase in disposable income due to a decrease in saving and paying taxes at 18% ,while having autonomous consumption remain unchanged.
For the third quarter, GDP decreases, as price for goods and services increases due to inflation (1.2%). Household demand decreases, GDP also decrease.
Investment
The amount of investment is determined by the interest rate. From Feb 1, the interest rate is 16% and it increases to 18% in Dec 1. With the increase in interest rate, the consumers will invest lesser as the interest rate had became higher. So the amount of investment is indirectly proportional to the interest rate.
Government Spending
The GDP increases in the first quarter and the second quarter (3.1% to 3.8%). Since GDP has increased throughout the first two quarters of 2018, this shows that one of the factors affecting the GDP is the government spending. The government spending in the first quarter of the 2018 is $52286 Ukrainian Hryvnia (UAH) million. It then increased to $55563 UAH million in the second quarter of 2018. Since the government spending increased in the first two quarters of 2018, this led to the Ukraine's GDP to increase too. However in the third quarter of 2018, the government spending decreased to $47105 UAH million. This led to the Ukraine's GDP to decreased too from 3.8% to 2.8%. Since the government spent less in the third quarter of 2018, this led to the GDP to be decreased. In the fourth quarter of 2018, the Ukraine's GDP increased from 2.8% to 3.4%. This shows that the government increased the spending for the country's expenditures and resources. Therefore this forms a pattern in the government spending of increasing in the first two quarters of 2018 then decreases in the third quarter and then eventually increases in the last quarter of 2018.
Net exports
The exports is 4,248 USD million in 2018 while the imports is 5,655.70 USD million in 2018. Some examples of exports are iron,steel and cereals etc.. and example of imports are machinery, vehicles and plastics etc..Hence, the net exports is -1,407.7 USD million. Exports and Imports are treated as autonomous expenditures and it is unaffected by the nation’s level of real GDP

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The economy is currently in the recovery phase. This means that real GDP increases and the unemployment rate falls. Business profits improve and production capacity is more utilized. There will be inflationary pressure as the price  level increases.

The high unemployment rates are costly not only to the individuals and  families directly affected, but also to the economy as a whole such as loss of output, labour resources left idle, decline in consumption,  investment and consumer confidence.Hence, this leads to a fall in GDP.

Cyclical unemployment is caused by the lack of jobs during a  recession. When real GDP falls, some companies close down,  many jobs disappear, and the unemployed scramble for fewer  available jobs.

Structural unemployment is caused by a mismatch of the skills of  workers out of work and the skills required for existing job  opportunities. Since there are tensions between Russia and Ukraine because of Russia seizing three Ukrainian military vessels just off Crimea after claiming they had entered Russian waters illegally.  This might result in the relocation of business operations.

Seasonal unemployment is a type of working  arrangement in which a person is employed routinely for  part of the year, but spends the remaining months or  weeks without a job and is hunting for an alternative job. Ukraine experiences 4 seasons each year. Hence,after winter is over, ski instructors will go out of jobs as the snow has melted.

Frictional unemployment is caused by the normal search  time required by workers with marketable skills who are  changing jobs, initially entering the labour force or re-  entering the labour force. The university graduates from Ukraine seeking their first  job, people who are laid off between projects, and people who quit their  jobs to relocate or to seek out better employment.

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Resources:
https://www.britannica.com/place/Ukraine/Resources-and-power

GDP:
http://www.intellinews.com/ukraine-s-post-collapse-economic-recovery-stalls-with-gdp-growth-of-2-8-in-3q18-152028/

Inflation:

http://www.intellinews.com/comment-ukraine-s-economy-imf-deal-provides-relief-but-challenges-persist-152048/

Data:
https://tradingeconomics.com/ukraine/imports
https://tradingeconomics.com/ukraine/exports
https://tradingeconomics.com/search.aspx?q=ukraine

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Looks like you guys need to get started soon.

Focus not only on what's happening in the economy but also the cause of the situation.

Try to use actual data to see if what the news article says actually happened. Then you can also figure out why or why not.