Name Student ID Number
Devraj Valecha 300716269
Gowtham Pinnaka 300733643
Ayush T.Unni 300742862
JiangPing Meng(Michael) 300687424
Course Section : GNED 219-341
PROF. PHILIP ALALIBO
Research Proposal – 10%
Social Action Project Proposal
Outline briefly the topic you have decided to explore. You may provide a definition in this section using in-text citation. (5 marks)
The topic which our group has decided to explore is “Public vs Private and its Effects on Economy”. The public sector is solely owned and operated by government and it usually includes educational institutes, healthcare and other institutes under the control of government. The private sector includes (profit or non profit) organizations which are not owned by government(“http://www.privacysense.net/difference-between-private-public-sector/). When these sectors come together, they form public-private partnership(PPP). Therefore, PPP is a joint collaboration between public and private sector where both share risks (financial risks and revenue risks) and benefits (profits and quality of services) to support quality infrastructure projects and services.
Explain the rationale (reason) for choosing this topic (5 marks)
a) Our group comprises of members who are from software background. Our knowledge in the field of economics is limited. In order to explore this field more, we have chosen this topic which is related to economics
b) It becomes important for us to know that how we, from this background, can contribute to a nation's progress by being part of a project from either side.
To know the risks and benefits involved in public and private sector.
d) How different are two sectors with regards to each other and draw comparison between them.
e) What is the impact on country's economic growth and who benefits from these projects.
Explain how it ties-in with one or more of the issues (or topics) we will examine in the course. Provide examples (10 marks)
The power of Hi-tech in workplace. It will change both private sector and public sector. Apple now has become one of the leading high-technology companies in the world, and its products have not only just got into people’s life, but it has also changed the way how public sector works and modernizes it.
What are the main elements of debate around this topic? Provide a brief discussion (10 marks) a) Risk of Investment: - People prefer to invest in public companies via bonds because there is less risk involved and the returns are better.
b) Accountability: - Since public companies offer their stocks on stock market, therefore they have to report about their earnings every quarter to the Securities and Exchange Board. This gives people confidence about company's future to invest further if required. On the other hand, private companies are not required to do so which makes it difficult for them to attract investment.
c) Employee Benefits: - Employees in private sector are subjected to better pay-scale, perks, incentives and growth compared to public sector. Also, they have little gap between management and ownership which makes it easier to count their views and opinions for the private company's growth.
d) Quick Decisions: - Prompt decisions are taken by private companies which makes it easier to bring changes in policy or strategy to achieve benefits. On the other hand, public companies take decisions at snail's speed.
e) Better Technology: - Private companies have state of the art best technology which provide access to facilities for people getting benefits in terms of better products and services.
f) Affordability and...