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Vietnam - An Asian developing country in transition

Case Study Teacher's Notes

Student Activities

  1. Explain the main differences between a market capitalist economy, a market socialist economy and a non-market socialist economy. [You may need to refer to your textbook to help answer this question].

  2. Using a range of Internet sites (given to you by your teacher), investigate the latest statistics on the following key economic indicators for Vietnam:

    • Economic growth
    • Inflation
    • Unemployment
    • Net foreign debt
    • Balance of Payments data.

    Prepare a visual display of this material in charts and tables.

  3. Explain why the development of an economy's infrastructure is so important to economic growth and development.

  4. Discuss/debate reasons why Australia should/should not provide bilateral aid to Vietnam.

  5. Using the table of social indicators (provided to you by your teacher):

    1. explain the significance of each indicator used
    2. research similar social indicators for Australia. Which five indicators do you think best highlight the differences between Australia and Vietnam?
    3. write a report comparing Australia to Vietnam.

  6. Research and explain the meaning of the following terms:

    • Collectivisation
    • De-collectivisation
    • Communism
    • Socialism
    • Capitalism
    • Privatisation
    • Infrastructure
    • Developing economy
    • Developed economy
    • Economic growth
    • Economic development.

  7. Research and write a report highlighting the major differences between Vietnam's economy and the Australian economy. Discuss the differences under the headings of resource ownership, economic decision-making and co-ordination of prices.

    1. Explain the difference between GDP and GDP per capita
    2. Why is it that GDP could increase while GDP per capita could fall?

  9. Explain why it is important for developing economies to expand their industrial sector such as in the Vietnam economy in order to achieve economic growth.

  10. Explain the importance of Vietnam investing in human capital.

  11. Investigate the nature and purpose of the following trade organisations:

    • Association of Southeast Asian Nations (ASEAN)
    • Asia Pacific Economic Cooperation (APEC)
    • World Trade Organisation (WTO)

    1. When were these organisations established?
    2. Who are the member countries?
    3. What are the key aims of these organisations?
    4. What benefits do member countries receive?

 

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