1. A Presentation
On
National and International Issue
Course No.: Econ 3208
Course Title: Current Economic Affairs – Fieldwork and Studio
Submitted to
Dr. Shahnewaz Nazimuddin Ahmed
Professor
&
Sazia Ahmed
Assistant Professor
Economics Discipline
Khulna University, Khulna
Submitted by
Md. Sumon Ali
Student No.: 191524
Year: 3rd, Term: 2nd
Economics Discipline
Khulna University, Khulna
1
2. 1.1 Introduction
The first case of COVID-19 was reported on December 31 in 2019
at Wuhan in China.
Bangladesh confirms first three cases of coronavirus disease
(COVID-19) March 8 in 2020 & further spread of the virus
expected over the near term.
COVID-19 pandemic is apprehended to have serious health and
economic implications.
Corona virus is found to be one of the most dangerous and
disruptive disease so far in human history.
1. National Issue: Socio-economic Crisis Due to
COVID-19 Pandemic: A Perception in Bangladesh
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3. 1.2 Lockdown Imposes Heavy Economic Costs
Bangladesh’s GDP is estimated to have fallen by 29% during the
country’s lockdown compared to a no-COVID scenario.
Food system is adversely affected by falling consumer & export
demand
National poverty rate increases by 25% during the lockdown.
Almost 42 million more people temporarily living below the
national poverty line.
Urban areas are particularly vulnerable to the worst effects of job
and income loss, with those living in urban areas experiencing an
average income loss of 23 percent.
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4. The COVID-19 pandemic is creating an unprecedented economic
crisis for the global economy, including Bangladesh.
Export earnings of Bangladesh reached USD 46.36 billion in 2019,
which was 15.32 percent of GDP. However, the outbreak of
COVID-19 pandemic slashed the country's export by 16.23 percent
in 2020.
The impact of COVID-19 on the economy of Bangladesh is being
transmitted through two main channels:
i. Disruption of domestic demand and supply in the local
economy and
ii. Slowdown in global economic activity affecting global trade
and international financial flows.
1.3 Economic Impact of COVID-19
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5. 1.4 Sectors Affected by Lockdown…
Sector Lockdown Restrictions in Targeted Regions
Agriculture
Farming activities exempted (essential sector)
Movement restrictions occurred just after planting for
winter crops
Limited extension visits to farms, suspended
development projects
Manufacturing
Food processing & medicines exempted
Movement restrictions affected many operations
Nonfood producing companies closed
Wholesale &
retail trade
services
Retailers of essential goods exempted, with limited
trading times
Social distancing restrictions affected market activity
Transportation Air travel closed; cargo transport exempted
Inter-district passenger transit closed
Urban passenger transit reduced 5
6. 1.4 Sectors Affected by Lockdown
Sector Lockdown Restrictions in Targeted Regions
Education services
All public schools closed without much scope for online
delivery
All private schools closed with some online materials
Health services Health services exempted (essential)
Elective operations reduced but rising number of COVID
patients
Export demand
Reduced international tourism & business travel
Lower export demand for mineral exports
Lower export demand for agricultural, other products
Remittances
Decline in value of remittances sent by nationals working
abroad
Government
revenues
Fall in tax revenues due to decline in economic activity
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7. GDP falls,
Incomes falls
Poverty Raise
Direct
impacts
1.5 Framework for Analyzing COVID-19
Global Impact Due to
Lockdowns
Indirect
impacts
Domestic Impact Due to
lockdowns
• Export demand reduce
• Remittances & migration
falls
• Foreign direct
investments falls
•Agriculture
•Mining & crude oil
•Manufacturing
•Utilities (energy, water)
•Construction
•Whole & retail trade services
•Transportation
•Hotels & food services
•Banking, finance & insurance
•Professional & business services
•Public administration
•Education services
•Health & social services
•Sports & entertainment
•Community & other services 7
8. 2. International Issue: Consequences of Climate
Change: Evidence from the Global Crisis
Climate change is an undeniable environmental threat of the 21st
The United Nations Framework Convention on Climate Change
(UNFCC) defines "climate change as a change directly or indirectly
attributable to human activity that alters the composition of the global
atmosphere over a comparable period of time.“
Scientific research describes that the net climate change will be
driven largely by atmospheric greenhouse gases. The catastrophic
consequences of climate change threaten our food availability.
2.1. Introduction
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9. 2.2 Causes of Climate Change
Since the Industrial Revolution, human activities have released large
amounts of carbon dioxide and other greenhouse gases into the
atmosphere, which has changed the earth’s climate. There are some
reasons of climate change-
i. Solar Variation
ii. Volcanic eruptions
iii. Greenhouse gases
iv. Deforestation
v. Agriculture
vi. Burning of fossil fuels
vii. Industrial processes
viii.Coal mining
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11. 2.2 Impact of Climate Change
The largest impact of climate change is that it could wipe off up to
18% of GDP off the worldwide economy by 2050 if global
temperatures rise by 3.2°C.
i. Rise in sea level
ii. Heavy rainfall across the globe
iii. Extreme drought
iv. Decline in crop productivity
v. Ecosystem are changing
vi. Hurricanes
vii. Rise in temperature
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12. Climate change is likely to affect each country’s economies
differently. Poorer countries whose economies are largely
dependent on agriculture are likely to be the worst hit, ADB says.
The Maldives is likely to be worst hit in the middle of the century,
followed by Nepal and Sri Lanka and so on.
But the economic impact of climate change can be constrained if
global emissions are curbed.
ADB’s analysis suggests that if countries implement policies to
curb global warming to two degrees above pre-industrial levels –
the internationally agreed goal – the region could stand to lose
around 2.5 percent of GDP annually in 2100.
2.3 Economic Impact of Climate Change…
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14. References
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1. Ali I. (2020). The COVID-19 pandemic: making sense of rumor
and fear. Med Anthropol. doi: 10.1080/01459740.2020.1745481
2. Anner, M. (2020).The Impact of Covid-19 on Workers and
Businesses at the Bottom of Global Garment Supply Chains. State
College, Pennsylvania, Center for Global Workers’ Rights
3. Doza, M.B., Shammi, M., Bahlman, L., Islam, T., and Rahman,
M.M. (2020). Psychosocial and Socio-Economic Crisis in
Bangladesh Due to COVID-19 Pandemic: A Perception-Based
Assessment, doi: 10.3389/fpubh.2020.00341
4. Alexandrov, V.A., Hoogenboom, G. (2000). The impact of climate
variability and change on crop yield in Bulgaria. Agric. Forest
Meteorol. 104, 315–327
5. Debay T. (2010). The impact of climate change in Africa. Institute
for Security Studies. Paper 220.
