ompare and Contrast the two Economic systems of China and Cuba (see descritpion)

Must reference the textbook as one of the 6 references. Textbook is Essentials of Economics by Bradley R. Schiller with Cynthia Hill, 9th ed. ISBN 9780078021732. Please pay close attention to instructions and grading rubric which is attached below.
The purpose of this assignment is for students to explore the relationship between the economic performance of a country and its political and economic systems. In order to accomplish this, students will pick two countries (not the United States) and compare and contrast their economic systems and performance. One of the countries should be a developed economy with active financial and product markets and the other should be an undeveloped (third world) economy. Each country may only be selected once in a class. Country choices should be posted in the appropriate forum to allow the instructor and other students to see what has been chosen. A cursory review of the political system will also be essential to understanding the level of economic freedom within the country. Below are some questions or topics that should be considered when completing this assignment:

• Describe the level of economic freedom experienced by the citizens of each country. This includes such areas as:
 Property rights
 Level of government spending
 Trade restrictions/freedoms
 Business freedoms (starting a business, regulation, etc.)
 Level of corruption
 Investment freedom
• Describe political freedoms (or lack thereof) enjoyed by the citizens of each country.
• Labor market conditions
• Monetary policy and Fiscal policy
• Currency policies

After exploring the various topics above for each country, describe the current economic conditions in the country. This may include:
• Unemployment
• Inflation
• Stability of markets
• Credit availability
• Poverty rates
• GDP, GDP growth, and GDP per capita
• Other economic indicators you consider important

Based on your description of the economic and political systems within each country and the resulting economic conditions, consider the following questions.
1. How does the type of economic system impact economic conditions?
2. How does the type of political system impact economic conditions?
3. What types of economic and political systems are usually related to better economic conditions?
4. What are some potential reasons why governments do not adopt these economic and political systems?

The following websites and books may be useful for completing this assignment.

Index of Economic Freedom.
Transparency International’s Corruption Index.
CIA World Factbook.
Institute for Faith, Work & Economics.
Book: The Poverty of Nations: A Sustainable Solution. Asmus, Barry & Grudem, Wayne.
Book: Why Nations Fail. Acemoglu, Daron & Robinson, James


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