Compare two countries with different economic systems. One of the two countries must be the USA.
Write a short introduction ending with a thesis statement. The thesis statement should include the two countries chosen and answer the questions:
• Which country would be the best place to live? • Which country would be the best place to start your business?
Suggested Organization
Paragraph 1. Describe each economic system and point out the main characteristics, advantages, and disadvantages of each. Paragraph 2-4. For both countries, analyze the following economic indicators for the last three years (2020-2022) and display them in a data table.
• Real GDP
• Rate of economic growth from year to year
• Real GDP per capita
• Inflation rate
• Unemployment rate
• Life expectancy
• Average years of schooling
Paragraph 5. Conclusion paragraph: Bring the essay portion of the project to a logical close. Based on your research, explain:
• Which country would be the best place to live? • Which country would be the best place to locate your own business, and expect it to prosper?
• Explain your reasoning and use the economic indicators to draw your conclusions.
Works Cited page: Follow MLA format in giving your source information. You must cite at least 4 sources. Use official sites as much as you can (Bureau of Labor Statistics BLS, Federal Reserve, Department of Commerce, etc.) or credible sources. Do not use Wikipedia. Guidelines:
• MLA Format
• Minimum 3 pages (750 words) for the essay, plus a “Works Cited” page (maximum 6 pages total)
• Use proper grammar, proper spelling, and good paragraph structure.
• Express your findings in your own words. If the rate of plagiarism is high, the essay will not be accepted, and you will have a zero for the assignment.
• Include the following information at the top of at the top of the first page of your essay:
1. Your name (Sihara Requena)
2. Instructor’s name (Ada Duarte De Ortiz)
3. ECON 2301 002
4. Principles of Economics Project
5. Date