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April 22, 2020/week 12   IMF says India’s growth rate could top 7% in 2021 if the coronavirus outbreak is brought under control

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April 22, 2020/week 12   IMF says India’s growth rate could top 7% in 2021 if the coronavirus outbreak is brought under control

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https://www.cnbc.com/2020/04/20/coronavirus-imf-forecasts-india-growth-rate-at-7point4-percent-in-2021.html

During the spring of 2020, India is predicted by The International Monetary Fund, to increase 1.9% for the fiscal period. For the following fiscal year, the country is estimated to grow 7.4% in total. These numbers are all related to how well the pandemic is handled all over India. Different factors can impact how much it increases or decreases. As of now, India has 17,265 confirmed cases of infection as of April 20 with 2,546 patients have been discharged while 543 people have died. Given these numbers and how rapidly the virus is spreading, it is inevitable that the  increase will happen. My initial reaction to this article was shocked. The virus is spreading rapidly across the world with no control or end in sight. The world economy is taking a massive hit, and personally I do not see us making a full recovery. It is hard to remember what life was like before this pandemic broke out and put the entire world on hold. In relation to class, this article brings up the concepts of fiscal periods and fiscal years. The key factor in affecting these is in how fast the virus spreads and how well India does to respond to stop it.

Sahelirc. “IMF Says India's Growth Rate Could Top 7% in 2021 If the Coronavirus Outbreak Is Brought under Control.” CNBC. CNBC, April 20, 2020. https://www.cnbc.com/2020/04/20/coronavirus-imf-forecasts-india-growth-rate-at-7point4-percent-in-2021.html.

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April 15, 2020/week 11 Small businesses start to get rescue funds, but payouts overall are lagging

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April 15, 2020/week 11 Small businesses start to get rescue funds, but payouts overall are lagging

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https://www.cnbc.com/2020/04/13/some-small-businesses-are-starting-to-get-rescue-funds-but-payouts-overall-are-lagging-behind.html.

Small businesses are being impacted severely during the Coronavirus outbreak. This is simply because of the fact that thousands of small businesses were forced to close down operations due to the virus. Small businesses have applied for more than $350 billion for the Paycheck Protection Program. This absurd amount will have a long effect on the U.S. economy as we all try to build back up and move forward from this pandemic. Banks all over are trying to do the best they can to refund loans, while in the end only reaching about 30%-40% of the claims. The claims by the small businesses spans from $2000 to a whopping $10 million in one claim. This amount has been said to be the max, limiting what businesses can and cannot request. My initial reaction to the opening statement of this article was shocked. I had no idea that so many businesses were forced to shut down, and the overhaul of the amount of claims these businesses made. After reading the full article, it is scary to think how our government will ever come back from this pandemic that seems like there is no end in sight. In relation to class, this article covers the concepts of loans and small businesses. The loan side of the article shows how these small businesses need financial support to stay afloat during this crisis.

Steveliesman. “Small Businesses Start to Get Rescue Funds, but Payouts Overall Are Lagging.” CNBC. CNBC, April 13, 2020. https://www.cnbc.com/2020/04/13/some-small-businesses-are-starting-to-get-rescue-funds-but-payouts-overall-are-lagging-behind.html.

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April 8th, 2020/week 10 Ensuring global food security in the time of COVID-19

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April 8th, 2020/week 10 Ensuring global food security in the time of COVID-19

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https://www.piie.com/blogs/trade-and-investment-policy-watch/ensuring-global-food-security-time-covid-19

Many countries during this time are having to constantly and rapidly adapt to new problems that are being brought forward by the coronavirus. Food and food industries are taking a serious hit as problems begin to worsen all across the globe. For example, many cereal exporters are contemplating placing export restrictions on where they send their product as health concerns are on the rise. World hunger has become worse than ever due to the coronavirus taking surge on our planet. With increasing hunger and the rise of food price spikes, human health is at an all time high when it comes to concern. Russia being the worlds 2nd most exporter of cereal, has taken steps further than anyone else by placing bans on the export of process grains. This is crucial for the economic side of businesses as money will inevitably be lost and countries who received this good, are no longer getting what they need. My initial reaction to this article was being shocked. The coronavirus is slowly ruining more than just health, but the economy as a whole. Companies are under pressure as they are doing the best they can to stay afloat, all while giving up so much that will ultimately hurt them in the end. In relation to class, many economic concepts we have covered throughout the semester are constantly coming up in the news. Terms such as inflation are constant in todays world as prices for essential goods are skyrocketing. The coronavirus as of now has shaken our economy tremendously and for the immediate future, doesn't look like it is going to come to a halt anytime soon.

“Ensuring Global Food Security in the Time of COVID-19.” PIIE, April 7, 2020. https://www.piie.com/blogs/trade-and-investment-policy-watch/ensuring-global-food-security-time-covid-19.

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April 1st, 2020/week 9 Consumer confidence tumbles in March as coronavirus cases surge

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April 1st, 2020/week 9 Consumer confidence tumbles in March as coronavirus cases surge

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https://www.cnbc.com/2020/03/31/us-consumer-confidence-march-2020.html

Consumer confidence in the U.S. fell sharply was the surge of coronavirus outbreaks continues to take the world by storm. This decrease is caused by all of the panic the pandemic is providing, and everyones initial response is to buy as much as they can to stock up in case of a nationwide lockdown. Over 164,000 coronavirus cases have been confirmed in the U.S. which can easily cause some concern in everyone. The measures taken to stop the outbreak by many counties around the world has and will continue to cause economic breakdowns and market volatility. Goldman Sachs economists expect the U.S. economy to contract by 34% in the second quarter and U.S. unemployment to surge to 15% before the fastest-ever recovery takes place. The whole situation revolving around the coronavirus is becoming concerning to me. We are somewhat forced to stay home at this point so going to the store has become very limited. With the economy slowly decreasing, it can be clear to me why the confidence in the markets is at an all time low. The article I found relating to our class revolves around the concept of the consumer. It has been recorded that the consumer confidence in the U.S. economy, is very low right now and possibly will become lower. This shocking discovery is all at the hands of the coronavirus outbreak. The sudden drop in the economy has also dropped peoples faith in it making its way back to where it should be.

Foimbert. “Consumer Confidence Tumbles in March as Coronavirus Cases Surge.” CNBC. CNBC, March 31, 2020. https://www.cnbc.com/2020/03/31/us-consumer-confidence-march-2020.html.

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March 23rd, 2020/week 8 The Financial Blow of the Coronavirus on Sports

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March 23rd, 2020/week 8 The Financial Blow of the Coronavirus on Sports

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https://www.nytimes.com/2020/03/14/sports/sports-coronavirus-impact.html

For the first time in nearly 2 whole decades, the $160 billion sports world has gone dark. The top of the top athletes are not at risk given their extreme riches, but the secondary leagues and NCAA sports programs that need to play to keep themselves afloat are at severe risk. Both mens and women's NCAA basketball tournaments have been canceled and the NCAA will suffer due to loss of the profit they make off of both tournaments. All of the major leagues in the United States have all gone on a 30 day absence at the least from all sporting events. As of now, it doesn't look like these sports are coming back anytime soon. This will result in a severe loss in sports economy's as the ability to pay athletes and workers will increasingly become harder and harder as these teams are not profiting off of anything. Even one of the most prestigious sporting events in history is set to be canceled in the coming months. The 2020 Summer Olympics is at high risk of moving to summer 2021 as the coronavirus is sweeping through the world. On top of all this, the 2020 Olympics is being held in China this year, where the coronavirus first originated. The world seems to be slowly grinding to a halt as society and more are being quarantined in their own houses. For people like me who love sports, this time period has been even harder because of the lack of things to watch on TV. Going through life with no sports to play is also a tough thing for me as well. As someone who has been playing and watching sports everyday of my life, this time period that we are going through is tough for me, but I can only imagine what people who's lives rely on sports must feel like. In relation to class, the sports economy is taking a huge hit. Millions upon millions of dollars are bing lost everyday as sporting events have been canceled for the immediate future. Athletes and those who work for sports teams are taking financial hits while this pandemic is ruining the way they make a living.

Futterman, Matthew, Kevin Draper, Ken Belson, and Alan Blinder. “The Financial Blow of the Coronavirus on Sports.” The New York Times. The New York Times, March 14, 2020. https://www.nytimes.com/2020/03/14/sports/sports-coronavirus-impact.html.

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March 18th, 2020/week 7 Connecticut unemployment claims reach 30,000 since Friday as coronavirus takes toll on state’s economy

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March 18th, 2020/week 7 Connecticut unemployment claims reach 30,000 since Friday as coronavirus takes toll on state’s economy

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https://www.courant.com/business/hc-biz-unemployment-claims-20200317-uuiam6g2t5b6pczsouacogzenm-story.html

Connecticuts unemployment rates have been skyrocketing through the roof as the coronavirus outbreak is spreading rapidly. As of now, about 30,000 unemployment claims have been filed since the start of the pandemic. This shows the true chaos and craziness that the pandemic brings other than concerns for health. As of yesterday, Governor Ned Lamont had ordered the closing of all restaurants, gyms, bars, and movie theaters in the state. This can cause immediate concern as people are laid off for the immediate future because they are not needed in these fields anymore. These numbers are truly haunting as I live in Connecticut and see what happens everyday. This pandemic is taking away a lot from people such as their own peace and even their job. As case numbers rise everyday, I am sure this scenario all over the U.S. will get worse before it gets better. The relation to class this article has, has to do with unemployment as we discussed it in last weeks class. Unemployment is known as the term to describe someone who is not working for a source of income and is looking to be in this category. As seen in the article, the coronavirus has force lawmakers to shut down numerous amounts of businesses, forcing those to lay off workers, which now places all of them in the unemployed column.

Singer, Stephen. “Connecticut Unemployment Claims Reach 30,000 since Friday as Coronavirus Takes Toll on State's Economy.” courant.com. Hartford Courant, March 18, 2020. https://www.courant.com/business/hc-biz-unemployment-claims-20200317-uuiam6g2t5b6pczsouacogzenm-story.html.

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March 11th, 2020/week 6               It’s Not 9/11 or a Housing Crash. So What’s the Coronavirus Fiscal Playbook?

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March 11th, 2020/week 6               It’s Not 9/11 or a Housing Crash. So What’s the Coronavirus Fiscal Playbook?

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https://www.nytimes.com/2020/03/10/business/economy/coronavirus-recession-policy.html

There is no way that the government can prevent the coronavirus from impacting our nations economy. Experts say that the way our policymakers are, a quick bounce back is expected. Trump is meeting with his board to discuss the possible idea of a payroll cut tax. Some are skeptical of the idea, but Trump plans to put it into full effect. People who lose jobs are forced to cut spending, leading into more and more job loss. This is becoming very concerning as this virus is spreading out of control only resulting in our economy becoming worse and worse. Jobs are being lost left and right with nothing looking likely to stop it. This epidemic is impacting many schools around my area and how they function. This virus outbreak relates to class due to the money and jobs being lost. The virus is crippling our economy as huge products we and other country's produce are falling out of line as the use for them is diminishing. But on the other hand, cleaning product companies are going through an exponential growth of income as their products are in high demand.

Casselman, Ben. “It's Not 9/11 or a Housing Crash. So What's the Coronavirus Fiscal Playbook?” The New York Times. The New York Times, March 10, 2020. https://www.nytimes.com/2020/03/10/business/economy/coronavirus-recession-policy.html.

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February 19th, 2020/week 5 Singapore will likely spend big to soften economic blow from coronavirus outbreak

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February 19th, 2020/week 5 Singapore will likely spend big to soften economic blow from coronavirus outbreak

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https://www.cnbc.com/2020/02/17/coronavirus-singapore-budget-2020-to-support-economy-amid-outbreak.html

With the wide spread of the Coronavirus  threatening to stall economic growth, Singapore government could launch one of the biggest budgets in an attempt to fix the economy. Singapore has the highest total amount of cases outside of the original country, China. "The Singapore government will likely register one of its largest fiscal deficits on record this year — with estimates ranging from 7 billion Singapore dollars ($5.04 billion) to 8 billion Singapore dollars" (Nee Lee). I wonder if later on this attempt to fix the economy will ultimately have a substantial impact. Singapore is willing to use more money than they originally planned in an attempt to rebuild the economy that is slowly being brought down through the effects of the Coronavirus. The fact Singapore is taking immediate action to stop this outbreak, unlike many other countries, shows the dedication they have towards their economy and the worlds economy. Singapore is increases their amootede budget in an attempt to fix the economy. This relates to our classes because in macroeconomics and microeconomics we looked at many economy's and markets such as the one mentioned in the article cited above.

YenNee_Lee. “Singapore Will Likely Spend Big to Soften Economic Blow from Coronavirus Outbreak.” CNBC. CNBC, February 17, 2020. https://www.cnbc.com/2020/02/17/coronavirus-singapore-budget-2020-to-support-economy-amid-outbreak.html.

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February 12th, 2020/week 4       Real-Life Examples of Opportunity Cost

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February 12th, 2020/week 4       Real-Life Examples of Opportunity Cost

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Opportunity costs are mentioned  https://www.stlouisfed.org/open-vault/2020/january/real-life-examples-opportunity-cost

Opportunity cost can be defined as the value of the next-best alternative when a decision is made; it's what is given up. An example of a real world opportunity cost is The One-time Windfall. This is if someone were to get $4000 for a trip. This is nice and all until you take into account the costs added on top of the original money you were given. The costs could exceed $6000 depending on what one does. It is surprising to me that gaining money for a trip can be deceiving as it can rise a lot higher than the original amount received. This can occur in many cases where free vacations are given away but only cover certain parts of what might be done during the trip. Opportunity costs are mentioned frequently throughout microeconomics and even macroeconomics. It always seems to appear whenever economics is mentioned, no matter what topic is at hand.

Fagan, Doreen. “Real-Life Examples of Opportunity Cost.” St. Louis Fed. Federal Reserve Bank of St. Louis, February 1, 2020. https://www.stlouisfed.org/open-vault/2020/january/real-life-examples-opportunity-cost.

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February 3rd, 2020/week3     Health Care Trade-Offs: A Necessary Reality For Every Health System

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February 3rd, 2020/week3     Health Care Trade-Offs: A Necessary Reality For Every Health System

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https://www.healthaffairs.org/do/10.1377/hblog20180316.120106/full/

In the health care industry there are many types of trade offs that occur. Some of which include the level of setting the health care budget with a larger overall budget. Second, another level can be seen as how much of its compensation a company will pay in health care coverage, or the total budget of a given risk-bearing provider. Before reading this article I had no idea that health care could come with trade-offs. Now viewing this article it is clear that these levels are trade-offs in thee health career industry. The key takeaways from this article is thee term trade-off. Health care can be seen as a trade-off as if order to gain health care, in some places you have to pay a fee or get something. But in return, you gain health care that can provide safety in case something bad were to happen to one.

Dionne, Francois. “Health Care Trade-Offs: A Necessary Reality For Every Health System.” Health Care Trade-Offs: A Necessary Reality For Every Health System | Health Affairs, March 20, 2018. https://www.healthaffairs.org/do/10.1377/hblog20180316.120106/full/.

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January 29th, 2020/week 2 Coronavirus and oil: Why crude has been hit hard

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January 29th, 2020/week 2 Coronavirus and oil: Why crude has been hit hard

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https://www.bbc.com/news/business-51353146

The worlds biggest oil producers are on the edge of slash output as a fallout begins due to the coronavirus. The cost of crude oil has dropped 20% already due to the affects of the virus. The outbreak is seen to have a large impact on jet fuel as the virus is making the public fear traveling and risking getting infected. China being the 2nd largest economy in the world, any negative impact that occurs within, is going to have some effect else where all across the  world. Personally I did not think the Coronavirus would have any effect on the worlds economy. After reading this article it is clear to understand how oil is effected as less and less use for it is found. This could ruin the trades countries have with each other as oil isn't in demand as much during this period. This article has to do with the economic view around the world. A resource, oil, is seen to experience a decline as the demand for this product has been reduced to a virus that is traveling around the world.

“Coronavirus and Oil: Why Crude Has Been Hit Hard.” BBC News. BBC, February 4, 2020. https://www.bbc.com/news/business-51353146.

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January 25th, 2020/week 1    Europe Is the New Front in Trump’s Trade War

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January 25th, 2020/week 1    Europe Is the New Front in Trump’s Trade War

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https://foreignpolicy.com/2020/01/23/europe-new-front-trump-trade-war-davos-wef/

Trumps point of view of the business world is something positive he has to offer while in office. He brings forward many benefits and have a huge impact on how well and successful our economy is. The potential threat at hand was squashed by Trump as he then started negotiating fixing the problem at hand with European trade policies. This article was very eye opening to me about how our economy has grown over the years as new president terms end and fresh terms begin. Trump is taking his trading policies overseas into Europe. Europe threatens to place heavy tariffs on European cars if an agreement between the two sides is not reached soon. Trump is coming off of success in Mexico and Canada in renegotiating North American Free Trade Agreement. The deal in Europe is to prevent any possible threats that face the U.S. through the possibility of trades going through NATO allies. This article relates to class through the use of the term trade policy. Over the prior course I have taken such as Microeconomics, Macroeconomics will have to do heavily with the term and terms around trades.

Johnson, Keith. “Europe Is the New Front in Trump's Trade War.” Foreign Policy, January 23, 2020. https://foreignpolicy.com/2020/01/23/europe-new-front-trump-trade-war-davos-wef/.