Many modern societies suffer from Income inequality and low social mobility. Income inequality in countries (Low Economy Countries) is now at its highest level due to the devastation caused by the recent global pandemic COVID-19.
Top-notch writing services like strategy analysis assignment help argues about economic recovery in their assignments that might take time to change this trend.
Resurgent inequalities and low social mobility not only threaten long-term growth but also pose a more serious threat to democratic societies.
Young people may be suspicious of political institutions if they feel their hopes for the future have been disappointed. This can be because of personal or state-level financial problems.
CORRELATION BETWEEN ECONOMY AND EDUCATION:
Studies have shown that the most reliable predictor of a child’s future academic success is his financial situation (Low Economy Countries). Children from low-income families often face many barriers to learning. Research suggests that supportive school systems can reduce the impact of economic conditions on the outcome of the life of a student.
The socio-economic status of students varies by country or economy. Regions and economies differ significantly in terms of national wealth and socio-economic heterogeneity.
Well-improved schools and services like operations assignment help are serving working-class students by giving them more equitable educational opportunities and outcomes all around the globe.
LOW ECONOMY COUNTRIES|THE GUIDE FOR THE STUDENT’S SURVIVAL:
Children have the right to free, quality primary education. World leaders recognized this commitment and included it in the Millennium Development Goals.
The problem in many developing countries is that governments do not have the financial resources either because of a large, informal economy and tax-free or inefficient administration and taxation or political will to meet the educational needs of their citizens. Poor parents in some low-income areas organize and fund the education of their children.
Since education is a fundamental right that benefits society, the state must bear the cost, especially for children from poor families.
EDUCATION IN THE ASIAN AND AFRICAN REGIONS:
Most of the worlds poor live in Asia-Pacific, South Asia, and sub-Saharan Africa. Education in these countries reflects their economy. In East Asia, primary school enrollment was nearly universal (99%) in 1997, according to information from the World Bank. since 1980.
South Asia lags behind it. But it is quite clear that the gross enrollment rate has declined slightly since 1980 in sub-Saharan Africa.
Many children in poor countries drop out of school before graduating. However, completion of primary school does not guarantee that children have received a basic education.
Surveys in many Low Economy Countries show that many adults with some education (five or six years or less) are officially illiterate. Across numerous developing countries, recent learning assessments have revealed that children are not able to develop basic numeracy and literary skills (Mbiti, 2016)
DISPARITIES WITHIN COUNTRIES:
Equally daunting are the differences in education levels within countries and regions. Unfortunately, but not surprisingly, in very low-income countries, children from poor families attend school much less frequently than children from wealthier families, with the exception of the country of Uzbekistan, which has a strong educational heritage.
In Pakistan in the early 1990s, 86% of rich children were in school compared to 37% of poor children, a 49-point gap between rich and poor.
The difference was 52 percent in Senegal and 63 percentage points in Mauritania. In countries like Bangladesh, Ghana, and Indonesia, the gap is smaller but still significant.
Since poor families depend mostly on their basic needs. In addition to tuition fees, they may need school books and supplies, transportation, and clothing. Some parents can pay for their children’s education if they can spread the cost over several years, but many poor people in low-income countries do not have access to credit.
THE GUIDE FOR STUDENTS:
It is easy these days to be worried and stressed about the future of the economy. Recent inflation has pushed up the prices of consumer staples even in big economies of the world. Stocks are rife with recession speculation, and rising interest rates.
But business cycles of booms and busts are normal and common in the country’s history. Although it leaves deep impacts on low economies. To deal with financial stress, students need to learn about business cycles and plan for these and future storms, which is a necessary part of any economy. The long-term impact of the recession on most consumers is minimal.
REVIEW THE BUDGET:
Reviewing the budget is a must for those struggling with low economies. Knowing how spending has changed over the past year helps to find where you need to cut. Small adjustments are allowed. Consumers tend to pack non-essential items and often are more price sensitive in low-economic countries.
CHECK RESOURCE ALLOCATION:
Investing in a recession, especially in low economies can be daunting, but experts advise sticking to a financial stock investment plan is critical to success. After all, returning to typical safe havens as bonds asks for taking risks.
It’s a commitment worth paying for as one doesn’t lose money when the market goes down, but doesn’t make money when the market goes up.
Investors panic when their portfolios suffer significant losses but the stock market crash can be seen as an opportunity. All these ideas require just the perfect mind to write the business plan (thesiswritinghelp, 2021)
ANTICIPATE POTENTIAL JOB LOSSES:
Often the unemployment rate tends to rise at intervals. Take a moment to assess it and plan accordingly. A student should work on making himself more valuable by revising his resume and looking for other job opportunities. In the worst case, if laid off, it is imperative that a student has already built up an emergency fund of at least three or six months of expenses.
Meager household resources result in fewer learning resources such as books, games, and interactive learning materials at home. Access to an environment conducive to cognitive development is essential for every student.
In this way, students find it easier to learn certain morals and cultural ideas that are more important in the process of learning. Students who feel comfortable can also have more psychological support in a supportive environment to promote skills that are necessary for successful education.
- Mbiti, I. M. (2016, september 30). The need for accountability in education in developing countries. Journal of Economic Perspectives 30.3 (2016): 109-32.
- thesiswritinghelp. (2021, june 1). TOP 10 E-COMMERCE PLATFORMS OF PAKISTAN. https://thesiswritinghelp.com.pk/top-10-e-commerce-platforms-of-pakistan.