Economics

Order Instructions/Description
Paper details:    • Section 1. 4-pages (max) introduction to your region: assets and industries Highlight key characteristics of your region, distinguishing amenities (port, university, etc), industry employment numbers (and drawing from LQs and shift-share analyses). 10 pts
• Section 2. 4-6 pages (2-3 pages per question max) discussion of the 2 questions presented during the group presentations. Answer each of the two questions. Discuss why are these questions important to regional economic development. Refer to the coursebook, course readings and other material used in your profile. 10 pts
• Section 3. 4-6 pages. How does your region stack up against the challenges raised by the two questions above?
3.1 What competitive advantages (ex. assets like university, airport, large multinational company) does your region possess to seize opportunities highlighted in your answers to section 2?
3.2 Propose elements of a strategy (what does it need) to help your region leverage opportunities better.
3.3 What global and technological challenges could undermine regional growth in these areas?
Draw on your regional profile, LQ and shift-share analyses if useful. What would be elements of an economic develo10 pts

How to write an analysis
Pick out a select number of sectors (ex 2 or 3) and write a paragraph on each. How you choose sectors in up to you. You can either look at the ones that were discussed in your economic profile, or ones discussed in the LQ assignment, or ones that stood out after doing the SS calculations. Once you pick a sector, I would write a sentence describing the observation. Then I would write another sentence interpreting its meaning. Finally, I would spend a sentence or three hypothesizing what could explain your observation. Repeat the exercise for the other sectors chosen. This is roughly how scientific inquiry works. You either want to test an idea from the literature (i.e. what others are saying about the region, such as in your profile) or start from empirical observations (the LQ and SS calculations) and then develop hypotheses that could explain what you observe. I’ve fabricated the argument below, but hopefully it helps you construct your argumentation. And in terms of hypothesis, you need not have the right answer, but the more educated the guess the better (i.e. fairies spreading fairy dust over your sector will not be a convincing explanation behind its growth or decline, so try tying it to growing export markets somewhere, currency echange values, key assets and other plausible explanations)

“In the case of oil and gas sector for South Shore Nova Scotia, the regional shift shows a negative value of -2056. In other words, there were approximately 2000 fewer jobs created in that sector than had it been performing as it has been across Canada. This is a cause for concern to regional authorities because it was identified as a growth sector in its 5-year economic development strategy (South Shore Nova Scotia Economic Development Agency, 2015). Falling oil prices may explain reduced activity in 2014, but the decline in employment seems to have started much earlier. It would be important to look at whether planned investments did not go through, whether reserves were fewer than expected, or whether the sector should have been a priority at all.”