Question

“take-home assignment”

“As you know, we started our lecture at the beginning of the semester ironically with an analysis of the health care system in the US. We discussed the implications of the so-called “The Affordable Care Act” for public finance, which addresses the fundamental questions raised by the controversies over the proper role of the government in dealing with health care issues. As an application (Application 1), we discussed the “Modern Measles Epidemic” talking about negative externalities and government intervention (when and how it should be, what its consequences are, how it should be financed etc.). As you can recognize, this course deals with such real issues from the real world that we live in. The current situation with respect to the COVID-19 pandemic provides you with the perfect opportunity to make a comparative analysis of what we all have been going through globally and what we have analyzed in our lecture so far. Discuss the government policies that have been carried out all around the world in fight against the pandemic. Focus on the forms of government intervention, how they are planned to be financed, what possible consequences of those policies are, both internationally and from the perspective of the countries designing and following them.”

Answer 1

Answer:

COVID19 (also termed as Corona Virus Pandemic) is one of the biggest event pandemics that the world is involved into. Total over 200+ counties across the global are being impacted doe to the same with loosing around 100 thousand lives so far across the globe. Some of the countries which were majorly impacted are China, Italy, Spain and the United States of America. The government of these countries have through all the aspects of these pandemic and have came up with different plans. However, on the other hand none of these plans have seem to be working well for any of these countries. Hence most of these countries have enabled lockdowns in several parts of the nation and some of them have completely lockdown the complete nation itself. As there has been no signs of vaccines available so far with anyone hence social distancing is the only things most of these countries have been focusing on. One of the best policies or moves that have been taken in the India is being appreciated by the people across the globe as India has taken the stand since day one when their were hardly couple of cases identified in the nation. Resulting to which being one of the countries with massive populations India still makes successful to keep itself within stage two of the epidemic only. On the financial from, it is well known to people that this is going to be one of the major impact on the nations economy and will surely invoke the economic slowdown for sure. However, the government of different nations have different approaches . for examples country like USA is concentrating much on their financial part and don’t want them to be impacted much which can be clearly seen from the way lockdown is only placed in some of the regions in spite of ranking first in the COVID19 infected countries. However, on the other hand India had been continuously working towards making the Covid19 defeat from India irrespective of the economic states. Policies and acts different from people to people, nation to nation but the only thing common amongst them all is they all want to get rid of this pandemic as soon as possible.