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Group Assignment No. 1 Group No.

1 MMS (2011-2013) Subject: Economics Topic: Economic History of United States and Chile.

Group Members:
605- Ashish Surve 618- Harsh Jhaveri 635- Neeraj Sinkar 651- Shraddha Satam 652- Steffi Burboz 660- Vinit Mendonca

Date: 23rd February 2012

The Economic History of the United States has its roots in European colonization later growing into 13 independent farming economies, which joined together in 1776 to form the United States of America. In 230 years the United States grew to a huge, integrated, industrialized economy that makes up nearly a quarter of the world economy. The main causes were a large unified market, a supportive political-legal system, vast areas of highly productive farmlands, vast natural resources, and an entrepreneurial spirit and commitment to investing in material and human capital. Period Till 1920 1921-1941 1941-1950 1950-1975 1976-1990 1991 till date Economic Situation Growth of Transport & electric utility network Great Depression. War Time Prosperity Baby Boomers Oil Crisis Great Recession, attack on WTC, bankruptcy of Lehman Brothers. Effects on Economy Impressive growth Rate, 4.2% & GNP per capita growth 2.7% per year from 1915 to1920 Stock market crash, Unemployment rate peaked 25% Inflation rate peaked 18% at the end of WW2 Increase in Job opportunities & financial mediators. Lead to Recession, unemployment rate reached 10.8% Collapse of financial institutions, downturns in stock markets. Property bubble, Increased debt burden, High inflation & unemployment.

The Economic History of Chile.