Can you guys help me add more things to this? it's so hard I can't find any! Thesis statement: Germany’s Economy I. How does the nation answer the basic economic questions? A. Germany has one of the world’s most highly developed market economies. 1. It is the world’s third largest economy in USD exchange-rate terms. 2. It is the fifth largest by purchasing power parity. 3. It has the largest economy in Europe. B. II. What type of economic system does Germany have? A. Germany is a Federal Republic. 1. The government promotes free enterprise and competition. 2. Germany has difficulties fueling formerly communist East Germany. B.
You can add from the notes below: Germany is one of the world's most highly developed market economies. It is the world's third largest economy in USD exchange-rate terms, the fifth largest by purchasing power parity (PPP), and the largest economy in Europe. Although recent performance has been dynamic, due to a strong world economy, the German economy is marked by domestic structural problems, and continued difficulties in fueling formerly communist East Germany. Competition and free enterprise are promoted as a matter of government policy. However, the state intervenes in the economy through the provision of subsidies to selected sectors and the partial ownership of enterprises in sectors of strategic importance. The German economy is heavily export-oriented, with exports accounting for more than one-third of national output. As a result, exports traditionally have been a key element in German macroeconomic expansion. Germany is a strong advocate of closer European economic and political integration, and its economic and commercial policies are increasingly determined by agreements among European Union (EU) members and EU single market legislation. Germany uses the common European currency, the Euro, and its monetary policy is set by the European Central Bank in Frankfurt, Germany. Most foreign and German experts agree that there are/ were domestic structural problems to be addressed. Beginning in 2003, the government gradually deregulated the labor market to tackle formerly high unemployment. As a result employment levels are on the upswing and the unemployment rate fell to 7.3% (August 2007) in West-Germany. The situation in post-communist East-Germany remains problematic at 14.7%. The overall unemployment rate was 8.8%. By ILO standards, the unemployment rate was lower, at 6.2% (July 2007 figure).[3] Further issues, which are being addressed by governmental policies, are high non-wage labour costs and bureaucratic regulations that burden businesses and the process of starting new businesses. Nevertheless, the export oriented economy is doing extremely well. Export growth in 2007 is estimated to be 9%, underscoring Germany's role as the world's biggest exporter. GDP growth in 2006 was 2.7% and is forecasted to retain its strength in the following years. Germany finances its reunification to a large extent by social insurance contributions, forcing up non-wage labour costs. To conserve the competitiveness of German workers, unions have abandoned high wage demands since the mid-1990s. According to the Federal Statistical Office of Germany, the average net income after deduction of consumer price rises declined by 2% between 1991 and 2005). However, in 2007 collective bargaining sessions, unions' wage demands were stongly up compared with averages of the last decade. Investment (gross fixed): 17.6% of GDP (2004) Household income or consumption by percentage share: lowest 10%: 3.6% highest 10%: 25.1% (1997) Distribution of family income - Gini index: 28.3 (2000) Agriculture - products: potatoes, wheat, barley, sugar beets, fruit, cabbages; cattle, pigs, poultry Industrial production growth rate: 2.2% (2004 est.) Electricity: production: 560 TWh (2003) consumption: 519.5 TWh (2003) exports: 53.8 TWh (2003) imports: 45.8 TWh (2003) Electricity - production by source: fossil fuel: 61.8% hydro: 4.2% other: 4.1% (2001) nuclear: 29.9% Oil: production: 74,100 barrel/day (2003) consumption: 2.891 million barrel/day (2003) exports: 12,990 barrel/day (2003) imports: 2.135 million barrel/day (2003) proved reserves: 395.8 million barrel (1 January 2004) Natural gas: production: 21 billion m³ (2003) consumption: 99.55 billion m³ (2003) exports: 7.731 billion m³ (2003) imports: 85.02 billion m³ (2003) proved reserves: 293 billion m³ (1 January 2004) Private financial assets: €4.07 trillion (2004) Reserves of foreign exchange & gold: $96.84 billion (2003) Want to add more? go and vist the sources listed below.
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| Finance plays an all-important role in life of any society irrespective of its social order. Experts should know well the nature of the finance, understand features of formation, distribution and use of financial resources in the state, and also in functioning of credit-and-monetary system. The economist should be prepared for professional work in state structures of federal, regional and municipal level; banks, stock exchanges, the financial and insurance companies, investment funds, the Ministry of Finance of the Russian Federation, economic services of the enterprises and the organisations of all patterns of ownership, on the posts demanding the higher economic education. |