Definition of 'Brazil, Russia, India And China - BRIC'
An acronym for the economies of Brazil, Russia, India and China combined. The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers.
The BRIC thesis posits that China and India will become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials. It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance like the European Union. (Investopedia explains 'Brazil, Russia, India And China - BRIC)
Task:
You and your partner will research one of the BRIC countries and other emerging economies - using the CIA World Factbook and create a short slide presentation for the class. You will present on Friday. Answer all of the questions below, and keep us interested!
Presentation Focus:
As we study Macroeconomics the focus becomes the world economy. We are going to begin by comparing the US economy to the economies of the BRIC and other emerging countries. Why? Emerging economies are the talk of "the street"! Watch this first -http://video.cnbc.com/gallery/?video=3000240971.
Topics to cover in the presentation-
An acronym for the economies of Brazil, Russia, India and China combined. The general consensus is that the term was first prominently used in a Goldman Sachs report from 2003, which speculated that by 2050 these four economies would be wealthier than most of the current major economic powers.
The BRIC thesis posits that China and India will become the world's dominant suppliers of manufactured goods and services, respectively, while Brazil and Russia will become similarly dominant as suppliers of raw materials. It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance like the European Union. (Investopedia explains 'Brazil, Russia, India And China - BRIC)
Task:
You and your partner will research one of the BRIC countries and other emerging economies - using the CIA World Factbook and create a short slide presentation for the class. You will present on Friday. Answer all of the questions below, and keep us interested!
Presentation Focus:
As we study Macroeconomics the focus becomes the world economy. We are going to begin by comparing the US economy to the economies of the BRIC and other emerging countries. Why? Emerging economies are the talk of "the street"! Watch this first -http://video.cnbc.com/gallery/?video=3000240971.
Topics to cover in the presentation-
- Basic info on the country: Location, population, type of economy.
- Resources: Natural resources? Large exports?
- GDP in purchasing power parity, GDP rank in the world, GDP per capita, GDP composition
- Major agricultural products, major industries
- Unemployment and inflation rates
- Link to recent economic news for this country. (cite this)