Case 2

Case 2
Poland: Eastern Europe's Economic Miracle 

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Slide 1: Tekstslide
BedrijfseconomieWOStudiejaar 3

In deze les zitten 13 slides, met interactieve quizzen en tekstslides.

Onderdelen in deze les

Case 2
Poland: Eastern Europe's Economic Miracle 

Slide 1 - Tekstslide

Summary of the Case
Joined the EU in 2004

Impressive economic growth during 2008-2009:
1. Market-based economic policies
2. Fiscally conservative
3. Contractionary monetary policy

Slide 2 - Tekstslide

Market-based economic policies
Poland shifted away from the centrally planned Soviet model
Implemented market-based economic policies -> Shock Therapy
  • Opened it's market to international trade
  • Liberalization of rices
  • Elimination of subsidies
  • Introduction of a new currency (the Zloty)


Slide 3 - Tekstslide

Fiscally conservative
Poland kept public debt in check -> investor confidence

When debt is kept in check:
  • Positive signal to investors
  • Poland manages it finances responsibly
  • Keep inflation under control

No large outflow of funds in 2008-2009

Slide 4 - Tekstslide

Contractionary monetary policy
  • Decrease the money supply
  • Raise interest rates
  • Reduce inflation



Poland was able to prevent the formation of an asset bubble


Slide 5 - Tekstslide

Challenges for Poland

1. Aging workforce
2. Changes in social transfer policies
3. Poland maintains a mixed economy

Slide 6 - Tekstslide

Aging workforce
As a result:
  • Shortage of labour
  • A decline in economic growth

Therefore Poland needs immigrants

Slide 7 - Tekstslide

Changes in social transfer policies

  • Lowering the retirement age
  •  Rasing social security payments
  •  Younger workers will bear the burden

This can even exacerbate the existing labor shortage

Slide 8 - Tekstslide

Poland maintains a mixed economy
Privatization: transferring ownership of state-owned -> private sector
  • Still significant state-owned businesses
       - Major banks, mining, energy etc. 
Private ownerships:
  • More efficient management 
  • Better financial performance
  • Increased competition

Slide 9 - Tekstslide

Questions
1. Thinking about what we learned about national differences in the class, please briefly
explain how Poland is similar to or different from the Netherlands?

2. What are the potential losses for Poland to join the European Union? In your opinion, has
the Polish government efficiently managed such costs since its EU membership in 2004?
Why or why not? Please briefly explain how your conclusion can be justified.

3. In a more anti-globalization era nowadays, what economic headwinds might Poland face
going forward and what additional economic policies can the government pursue to keep
the economic growth sustainable? Please be practical but not overly general about the
potential economic policies.

Slide 10 - Tekstslide

Physical Issues
Anxiety
Elevated Blood Pressure
Headaches
Acne & Skin Issues

Slide 11 - Sleepvraag

Debate argument

Slide 12 - Open vraag

Which of the following is an issue associated with technology in EDU?
A
Too much technology
B
Expanding definition of literature
C
Not enough technology
D
Children do not like technology

Slide 13 - Quizvraag