Past and Present Economical situation (Macroeconomics) of South Africa Research Paper

Past and Present Economical situation (Macroeconomics) of southwestward Africa - Research subject ExampleIn the similar context, it has been stated by the scientists that the Late Stone Age people are living in southern part of Africa for a very long period before the blacks or the whites came into being to stay there. Furthermore, it seat be stated that harmonise to the evidences provided it can be observed that a sculpture of a rock is created by the Khoisan around 26000 years ago. The introduction of iron changed the African stainless completely and it therefore provided a boost in the development of mankind. Agriculture has altered the lifestyle of the African people completely as southbound Africa largely is an agricultural country. The farming of agricultural lands provided an important grimace in the boilers suit development of African population. Agriculture is a key contributing factor towards the boilersuit economic growth in South Africa (The Early History of Sout h Africa, n.d.). Short History around the Economic Background of South Africa South African economy has been a generally fluctuating economy. In the past few decades, it has witnessed a sustained growth in terms of real per capita income. However, in new-fangled decades noticeable fall in real per capita income was observed primarily collect to political instability as well as change in the country. According to the observation of World Bank, it can be idealised that in the middle income nations such as South Africa economic regress can occur as rapidly as economic progress. The spheric economic environment has been a major influence on the pattern of economic development in South Africa over its historical progression (Fedderke & Simkins, 2006). Figure hearty Per Capita GDP as well as Associated Growth Rate, A Historical Trend in South Africa Source (Fedderke & Simkins, 2006) In the current context, the economy of South Africa is recovering from the earlier setbacks, but it ha s been weakened out-of-pocket to certain economic slumps. Moreover, with reference to the current trend of advanced economies, it can be recognized that due to economic setbacks growth has become too low largely due to considerable depression in unemployment. In the related context, it can also be said that according to World Economic Outlook, it can be predicted that there was slump in the economic aspects from the initial part of 2012. Economy in the global context will remain at around 3.3 percent and 3.6 percent in 2012 and 2013 respectively. Productivity is expect to remain sluggish in advanced economies, providing no effect on the emerging markets and developing economies. Moreover, unemployment is promising to stay high in most of the parts in the world, with the financial conditions remaining delicate according to the reports presented by Global Financial Stability Report (GFSR) in October 2012. These factors have an impact on the overall economic scenario in South Africa in the coming years (International Monetary Fund, 2012). Demographics of South Africa Demography is the mathematical study of prevailing human populations. It includes the study of the structure, size as well as distribution of change dimensions of a countrys population which also relates to birth, age and death. The analysis can be coordinated in the context of certain societal or group aspects such as education, nationality and ethnicity among others. The demography of South Africa is estimated on the basis of the statistical information gathered