Answer Happy

By taking into consideration the history of the Caribbean, the economic theories underpinning Caribbean development as well as the features of the typical Caribbean economy, construct a hypothetical (ideal) economic model that you consider suitable for the economic development of the Caribbean. Ensure that you carefully explain/justify the reasoning behind the development of your model. NOTES: 1. Students should start with the models and theories discussed in this course. You should carefully examine each model. Based on this you should be able to identify what aspects you think are relevant/necessary for the Caribbean context and which are not. 2. Once you have the aspects of the model you deem relevant you need to organise them into the "ideal" model of Caribbean economic development. This should include model objectives and assumptions that describe the setting and the behaviour of the economic agents, model inputs etc. 3. You will now need to analyse your new model. Be sure to clearly show how your "new" model improves on the other models that exist. The portfolio should include: 1. Overview of existing Models and theories 2. Diagrams and or charts relating to the models and theories 3. Model Development 4. Analysis of Model 5. Conclusion