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United Kingdom
Economy of the United Kingdom
The United Kingdom has the fifth-largest national
economy (and second-largest in EU)
measured
by
nominal GDP and tenth-largest in the world (and thirdlargest in the EU) measured by purchasing power
parity (PPP). The UK has been the fastest growing
economy in the G7 for 3 consecutive years as of
October 2015. The UK is one of the world's
most globalised economies. The
UK
economy
comprises (in descending order of size) the economies
of England, Scotland, Wales and Northern Ireland.
The financial services industry is particularly important and London is the world's
largest financial centre (tied with New York). The British aerospace industry is the secondor third-largest national aerospace industry depending on the method of measurement.
The pharmaceutical industry plays an important role in the economy and the UK has the
third-highest share of global pharmaceutical R&D. The automotive industry is also a
major employer and exporter. The size of London's economy makes it the largest city by
GDP in Europe. It still remains a great power with global strengths and an influential role
in the world economy.
The UK was the fastest growing economy out of the G7 members in both 2013 and 2014
and as of 2015, still continues to be the fastest growing. Since 2010, the Government has
been pursuing an austerity program aimed at cutting the budget deficit.
Government involvement in the British economy is primarily exercised by HM Treasury,
headed by the Chancellor of the Exchequer, and the Department for Business, Innovation
and Skills. The Bank of England is the UK's central bank and its Monetary Policy
Committee is responsible for setting interest rates. The UK is a member of
the Commonwealth of Nations, the European Union, the G7, the G8, the G20,
the International Monetary Fund, the Organisation for Economic Co-operation and
Development, the World Bank, the World Trade Organisation, Asian Infrastructure
Investment Bank and the United Nations.
The UK political system is a multi-party system. Since the 1920s, the two largest political
parties have been the Conservative Partyand the Labour Party. The constitution of the
United Kingdom is uncodified, being made up of constitutional conventions, statutes and
other elements such as EU law. This system of government, known as the Westminster
system, has been adopted by other countries, especially those that were formerly parts
of the British Empire.
The United Kingdom is also responsible for several dependencies, which fall into two
categories: the Crown dependencies, in the immediate vicinity of the UK, and British
Overseas Territories, which originated as colonies of the British Empire.
Key
Key
Key
Key
Stage
Stage
Stage
Stage
1:
2:
3:
4:
5 to 7 years old
7 to 11 years old
11 to 14 years old
14 to 16 years old
Generally key stages 1 and 2 will be undertaken at primary school and at 11 years old a
student will move onto secondary school and finish key stages 3 and 4.
Students are assessed at the end of each stage. The most important assessment occurs
at age 16 when students pursue their GCSE's or General Certificate of Secondary
Education. Once students complete their GCSE's they have the choice to go onto further
education and then potential higher education, or finish school and go into the working
world.
Our overview of the education system in the UK is divided into five main sections:
Primary Education
Primary education begins in the UK at age 5 and continues until age 11, comprising key
stages one and two under the UK educational system. Please visit the British Council
page for more information on primary education.
Secondary Education
From age 11 to 16, students will enter secondary school for key stages three and four
and to start their move towards taking the GCSE's - learn more about secondary
education in the UK and what it will involve. Primary and secondary education is
mandatory in the UK; after age 16, education is optional.
Further Education
Once a student finishes secondary education they have the option to extend into further
education to take their A-Levels, GNVQ's, BTEC's or other such qualifications. UK students
planning to go to college or university must complete further education.
Higher Education
Probably the most important subject area on this site, this explains more about the
higher education system in the UK and how it works for international students. Most
international students will enter directly into the UK higher education system, after
completing their home countrys equivalent to the UKs further education.
United States
Economy of the United States
The United States of America has the world's largest
national economy. It makes up roughly 17 to 22
percent of the world's gross domestic product (GDP).
The currency of the United States, the dollar, is the
most widely used currency in international trade, as
well as the world's foremost reserve currency. In fact,
several nations other than the United States use the
US dollar as their own currency: including the British
Virgin Islands, Ecuador, Panama, the Bahamas, Turks
and Caicos, Vietnam, Cambodia, Nicaragua, and
Belize.
The US economy is a "mixed economy," as both private interests and state
interventionism play a role. Predominantly driven by private ownership, the nation's GDP
has maintained overall steady growth rate for decades. In addition, the US economy
benefits from abundant natural resources, strong industrial and agricultural production, a
large and well-developed service industry, as well as extremely high rates of research,
innovation, and capital investment.
America boasts both the New York Stock Exchange (NYSE) and National Association of
Securities Dealers Automated Quotations (NASDAQ). As a result, the US possesses not
only the largest economy, but also one of the most stable in the world.
schools.
Education
schools,
or
an
approved home
school program. In most schools, education is divided into three levels: elementary
school, middle or junior high school, and high school. Children are usually divided by age
groups into grades, ranging from kindergarten and first grade for the youngest children,
up to twelfth grade as the final year of high school.
There are also a large number and wide variety of publicly and privately administered
institutions
of higher
education throughout
the
country. Post-secondary
education,
divided into college, as the first tertiary degree, and graduate school, is described in a
separate section below.
The
United
States
spends
more
per
student
on
education
than
any
other
country. American students rank 14th worldwide in cognitive skills. On the other hand, of
the top ten colleges and universities in the world, eight are American.
Canada
Economy of Canada
Canada is one of the wealthiest states of the world, the gross
domestic product (GDP) of Canada is about 1432,140 Billion.
US dollars, so the state is GDP rank 14 worldwide. In
purchasing power parity, Canada is up to 1265.838 billion
dollars in 13th place.
Canada is considered a social market economy, but the
economic margin for maneuver is very large, in the Index of
Economic Freedom, of the Heritage Foundation Canada will
be rated higher than most western European countries and slightly lower than the USA.
As in other developed countries the Canadian economy is dominated by the services
sector. The primary sector anyways is above average , which is due to the abundance of
natural resources and their exploitation.
Regarding commodities mining is the most important to the canadian state because of its
abundance of natural resources. Canada is the worlds largest producer of zinc, uranium,
potassium, cadmium, sulfur and nickel. In the cases of the degradation of aluminum,
titanium, cobalt, molybdenum, gold and lead the country ranks third. About 80% of the
exploited resources are exported, mainly to the United States of America.
Even though only 8% of the canadian area is used for agriculture, Canada is one of the
worlds largest exporters of agricultural products. The Canadian agriculture can be
divided into five main groups: Primarily intended for export are cereals and oil
seeds (34% of agricultural income) and meat products and live cattle (27%). Destined for
the domestic market are dairy products (12%), fruit and vegetables from the garden (9%)
and poultry and eggs (8%). The undertakings are highly modernized and mechanized.
Government of Canada
The Government of Canada, is the federal administration of Canada. In Canadian English,
the term can mean either the collective set of institutions or specifically the Queen-inCouncil. In both senses, the construct was established at Confederation, through the
Constitution Act, 1867, as a federal constitutional monarchy, wherein the Canadian
Crown acts as the core, or "the most basic building block," of its Westminsterstyle parliamentary democracy. The
Crown
is
thus
the
foundation
of
the executive, legislative, and judicial branches of the Canadian government. Further
elements of governance are outlined in the rest of the Canadian constitution, which
includes written statutes, court rulings, and unwritten conventions developed over
centuries.
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