Essay on Economics Semminar

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Pedro E. Hache 14-0774 Microeconomics Panel of Experts “DR in the World and Forecasts” November 25, 2014 How much do you know about your country? I asked myself as our Microeconomics class carefully viewed a panel of experts in economics discuss the struggles of the Dominican economy and how international affairs affect our nations well being. As I listened to the panelists make references to the principles of microeconomics, macroeconomics, and financial institutions, I now understand that the Dominican Republic is facing a period of economic instability. Alejandro Fernandez, an analyst at SRL, focused his intervention in the panel on the current poverty rates the Dominican Republic faces. Mr. Fernandez, like many of the other panelist, was amazed after finding that almost a third of the Dominican people lives under the poverty line. So I ask myself again, how much do you know your country? Furthermore into the conference the panelist identified the quality of the public offerings as below the standard. Meaning, for example, that since the quality of public education offered by the ministry of education in the Dominican Republic is below the standards the outcome will not be as effective. But who sets the standard? Countries like the United States and Switzerland, whose education system is admirable, are in this case responsible for setting standards. However, education is not the only problem, access to clean water, public transportation, and inflations, are just a few of the many problems identified in the seminar. In order to better understand the panelist’s intervention during the seminar, I had to relate their comments to the principles learned in Microeconomics. For example, one of the panelists mentioned the prosperity of the U. S. economy and the positive effect it will have on the Dominican Republic. However,

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