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Essay / Research Paper Abstract
This 3-page paper focuses on the shape of the Irish economy, compared to the U.S. economy. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: AS43_MTirelecon.doc
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Unformatted sample text from the term paper:
miracle of the so-called "Celtic Tiger," as foreign investments in areas such as technology and real estate boomed. But in recent years,
it seems as though the Celtic Tiger has gone into hibernation. A recent story in Time Magazine points out, for example, that the Irish real estate boom has gone "bust,"
with residential divisions not being completed because the developers ran out of money. But to determine the strength of an entire economy requires
economic indicators such as GDP, unemployment and even the inflation rate. In comparing Irelands economic indicators with those of the U.S., we end up with the following information. GDP
Growth Rate Unemployment Rate Inflation Rate Ireland -.06% 13.7% -1.5% United States 2.8% 9.7% 1.4% (Source: CIA World Factbook) Examining Irelands economic figures
and comparing them with those of the United States, we can see that the Celtic Tiger is, indeed, hibernating. The Gross Domestic Product, or GDP, is still in negative territories.
The GDP is the amount of goods and services a country produces in a year, and the reason why this is so important is because it provides an indicator of
how much spending is (or isnt) taking place in a particular country. If the GDP growth rate is on the positive side, it means the economy in question is producing
more goods because the demand is there. A negative GDP, on the other hand, means the country isnt producing goods because people arent buying.
In Ireland, we see a negative growth rate, meaning goods arent being produced, and that the country is headed toward a recession (when spending is down overall, businesses
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