EU referendum: NI economy ‘more vulnerable’ to negative Brexit impact, says Oxford Economics
The article explores the options UK can settle for incase of its exit from the Eurozone with the consideration of “ Highly Vulnerable “ Northern Ireland economy.
Topics include Economic Integration. Discuss the various stages of Economic Integration: PTA, FTA, Customs Union, Common Market and Monetary Union, advantages and disadvantages of each of these stages for the current needs of Northern Ireland using the diagrams for different stages of economic integration. Mention the fact that UK maintained its own currency and monetary policy while being a member of the Euro Zone and implication of the earlier position on UK’s Exit.
Evaluation will cover impact on workers, consumers, producers and government through changes in the prices of goods & services, employment opportunities, loss of markets, allocative and productive efficiencies, tax revenues and economic growth rates in Northern Ireland and UK in both short term and long term.