Download Interaction for Leadership

Interaction for
Leadership
An outline of what shall discuss
together
Sierra Leone





I
Its early history – it is one of which we can be
proud
The founding of the ‘modern’ nation
The Athens of Africa – just think of the famous
names
Influence across West Africa – it spread across
the continent
Some important personalities – again look at
academia, medicine, diplomacy etc.
The Microenvironment
Types of economic systems the
advantages/disadvantages of the THREE
 Why mixed have become predominant –
the expectations of an electorate
 What do they provide?
 How do they provide it?
 The problems associated with a mixed
economic system

Micro - 2
Demand – effective – then it move into Aggregates
 Influences – income, access, styles of life, occupations,
manufacturing, services – decisions?
 Price sensitivity (elasticity) – competitive/non-price
factors
 Supply – again we need to move to Aggregates
 Influences – labour, resources, technology
 Price sensitivity – primary products – big problem?
 What of Sierra Leone? – World Markets?

Demand – Minimum Price
Demand
Producer and Consumer Surplus
Micro - 3







Factors of Production – resources, labour, capital
and organisation
Adding value – how and in what order
Human Capital - UPE, schools, curriculum
Gender issues – cultural influences, micro loans
Allocation of Resources – efficient,
quality/quantity
Priorities – what will be the true opportunity
costs?
The ways forward? – strategies for development
Perfect Competition
The most efficient way
to allocate resources?
Micro - 4







The process of production – comparative
advantage/natural advantage
Capital or labour intensive
Access to skills, training
Access to capital – FDI,MNC, multi/bilateral
Developing the risk taker – sources of funds
Which way for Sierra Leone? – again we are
back to development strategies
Globalisation – do you agree with Norberg’s
interpretation?
Micro - 5







Competitive Markets – price and output decisions
Monopolistic – competition amongst the many
Oligopoly – competition amongst the few
Controlling monopoly – consumer/producer surplus
Regulating markets – intervention, who has power in a
market
Public v Private ownership? – is private enterprise the
best way forward?
Government responsibility – again what do the citizens
expect/want?
Monopolist _ profits
Is this to the benefit of
consumers?
Oligopolies – competition amongst
the few
How do they behave?
Monopolistic Competition –
Competition amongst the many
Is this a better way
forwards?
Micro -6
Market Failure
Public Goods/ Merit/De-merit –
taxes/subsidies
Immobility of Factors – improve?
Market Power – what can Sierra Leone do?
Imperfect Information – how?
Social Costs and Benefits – how to control
these?

Market Failures
Market Failure - 3
Positive Externalities Consumption
Market Failure - 4
Positive Externalities –
Production
Market Failure - 2

Negative Externalities - Production