Growing an Economy

Introduction

As the newly appointed Economic Minister for the country of “Ardistan” it will be my primary mission to develop a four-point plan to bring our country out of the current economic slump that the previous administration created do to their corrupt activities. This document will describe the four vital steps of my plan to effectively extract Ardistan’s various natural resources and establish trade with other countries that will benefit from our natural resources allowing us to move forward into a strong economic presence in the world.

Step One – Development Stage

The first phase is to identify all of Ardristan’s natural resources that will provide a long lasting source of revenue for the country. Once all of the natural resources have been identified there will be a need to create a department within the structure of the government, to be named “The Department of Natural Resources” to develop and engineer an efficient plan, including costs to extract each of the natural resources on an annual basis. Once The Department of Natural Resources has created a documented extraction plan for each of our of our natural resources the Economic Minister will evaluate which natural resources will provide the country with the most revenue with acceptable extraction costs. Another issue that will need to be addressed by the newly created Department of Resources is the equipment requirements to run the mining operations, and develop a plan to obtain the equipment. Another point for evaluation is the transportation of the extracted minerals to our customers in foreign countries that may require ships adequate in size and speed to deliver the minerals in a safe and timely fashion. (N. Gregory Mankiw. 2007-2009)

Step Two – Explore Labor Requirements

Once the selection process regarding which natural resources will be extracted, or mined has been established there will a need to employ and develop a skilled labor force to move forward with the...