For this essay, you need to choose a democratic country. In the essay, you must describe its political and economic institutions and explain how it affects its economic and political outcomes. You can talk about instiitutions like:

• Electoral system
• Vertical distribution of power (ie:federalism)
• Type of executive-legislative relations (presidentialism or parliamentarism)
• Consensual or majoritarian democracy
• Model of capitalism
• (In)dependence of monetary institutions
• Type of labor market regulation
• Welfare state model
• Membership of supranational organizations
• Type of constitution
• Any other that we mention in class or that you find relevant

You should describe the institution and discuss how it shapes economic and/or political dynamics . You do not need to cover all institutions, but only those that you find more consequential.