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SHEBA UNIVERSITY COLLEGE FACULTY OF BUSINESS AND ECONOMICS DEPARTMENT OF ECONOMICS

Research Topic: Side Effects of CORONA VIRUS on Human beings Life in Incase of the Socio-Economic Affaires

A Senior Project Submitted to the Department of Economics in Partial Fulfillment of the Requirement for the Awards of Bachelor of Arts B.A in Economics. Submitted by:Haftu Kebede Ayele

Adivisor: Assefa Molla Date------------

MAY 2013EC ETHIOPIA





Abstract The COVID-19 pandemic has devastated the global economy, which has rendered many of the world's population impoverished. Moreover, the pandemic has generated some uncertainties regarding economic and social policies. This phenomenon is lately the brunt of every government across the globe. This present study seeks to evaluate the pandemic's impact on poverty alleviation and the global GDP by considering individual countries' heterogeneous effects in a panel study. The motivation is to unravel the social and economic effects on the global economy.










                                                CONTENTS OF TABLES
          Content                                                                                                   page

CHAPTER ONE…..............................................................................................................................................................................................1 1. Introduction ….............................................................................................................................................................................................1 1.1 Back ground of project …......................................................................................................................................................................1 1.2 Statement of the problem …................................................................................................................................................................4 1.3 Objectives of the project …..................................................................................................................................................................4 1.3.1 General Objective …............................................................................................................................................................................4 1.3.2 Specific Objective ….............................................................................................................................................................................4 1.4 Research methodology ….....................................................................................................................................................................4 1.4.1 Data collection techniques …..........................................................................................................................................................4 1.4.2 Source of data …....................................................................................................................................................................................5 1.4.3 Sampling size and techniques …....................................................................................................................................................5 1.5 Significant of study ….............................................................................................................................................................................5 1.6 Scope and limitation of the study ….................................................................................................................................................5 1.6.1 Scope of the study ...........…................................................................................................................................................................5 1.6.2 Limitation of the study …..................................................................................................................................................................5 1.7 organizational structure of the paper …........................................................................................................................................6 1.7.1 Time schedule …...................................................................................................................................................................................6 1.7.2 Cost budget …........................................................................................................................................................................................7 Chapter Two ….................................................................................................................................................................................................8 2. Literature review …..................................................................................................................................................................8 2.1 related literature review .........................…........................................................................................................................8 Chapter Three ........................................................…..................................................................................................................11 3. Side Effects of Corona Virus on Human beings Life in case of the socio-economic affairs.................11 3.1 Modes of Transmission Corona Virus ….................................................................................................................11 3.2 Human Activities to Protect Corona Virus …........................................................................................................11 3.3 The Closure of Schools, Universities and Other Institutions …....................................................................12 3.4 The Consequence of Corona Virus on Humans Day to Day Activities …..................................................20 3.4.1. Effects on the Economy, Workers and Inequalities …......................................................................................21 3.4.2. Effects on Politics and Political Behavior …..........................................................................................................24 3.4.3. Effects on Immigrants and Racial and Ethnic Minorities ..........................…..................................................25 3.4.4. The Social Fabric and Psychological Effects .........…...........................................................................................26 3.5 Food Availability and Prices ….......................................................................................................................................28 3.6 Global Reconciliation …...................................................................................................................................................30 Chapter four …...............................................................................................................................................................................................31 4. Recommendation and Conclusion …...............................................................................................................................................31 4.1 Recommendation ….............................................................................................................................................................................31 4.2 Conclusion …...........................................................................................................................................................................................32 Reference ….....................................................................................................................................................................................................33





CHAPTER ONE 1. Introduction 1.1. Background Information

Coronavirus disease 2019 (COVID-19) is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) (China-WHO Joint Mission, 2020). The disease was first identified in 2019 in Wuhan, the capital of Hubei China, and has since spread globally, resulting in the 2019–20 coronavirus pandemic (Hui, D. S et al, 2020).  The common symptoms of Covid-19 include fever, dry cough, and difficulty in breathing but muscle pain, sputum production, diarrhea, and sore throat are less common (Centre for Disease control and Prevention, 2020). While the majority of cases result in mild symptoms, some progress to pneumonia and multi-organ failure. 

The virus is typically spread from one person to another via respiratory droplets produced during coughing (Centers for Disease control and Prevention, 2020). It may also be spread from touching contaminated surfaces and then touching one's face (Centers for Disease control and Prevention, 2020). The virus can live on surfaces up to 72 hours (National Institutes of Health, 2020). The time from exposure to onset of symptoms is generally between two and fourteen days, with an average of five days (Centers for Disease control and Prevention, 2020 Zhou et al, 2020). The recommended measures to prevent infection include frequent hand washing, social distancing (maintaining physical distance from others), and keeping hands away from the face (Perlman, 2020). In this paper, I estimate the side effects of the COVID-19. The COVID-19 changes the human day and the question is whether "normal life" is the same as it was before corona, or when the world will be overwhelmed by the deadly virus, is questions that no one can answer definitively (Bárcenaet al., 2009). The outbreak of coronavirus named COVID-19 has disrupted the Chinese economy and is spreading globally. The evolution of the disease and its economic impact is highly uncertain, which makes it difficult for policymakers to formulate an appropriate macroeconomic policy response. In order to better understand possible economic outcomes, this paper explores seven different scenarios of how COVID-19 might evolve in the coming year using a modelling technique developed by Lee and McKibbin (2003) and extended by McKibbin and Sidorenko (2006). It examines the impacts of different scenarios on macroeconomic outcomes and financial markets in a global hybrid DSGE/CGE general equilibrium model. The scenarios in this paper demonstrate that even a contained outbreak could significantly impact the global economy in the short run. These scenarios demonstrate the scale of costs that might be avoided by greater investment in public health systems in all economies but particularly in less developed economies where health care systems are less developed and popultion density is high. Coronavirus disease 2019 (COVID-19) is an infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) (China-WHO Joint Mission, 2020). The disease was first identified in 2019 in Wuhan, the capital of Hubei China, and has since spread globally, resulting in the 2019–20 coronavirus pandemic (Hui, D. S et al, 2020). The common symptoms of Covid-19 include fever, dry cough, and difficulty in breathing but muscle pain, sputum production, diarrhea, and sore throat are less common (Centre for Disease control and Prevention, 2020). While the majority of cases result in mild symptoms, some progress to pneumonia and multi-organ failure. In the month of March 2020, the rate of deaths per number of diagnosed cases is 4.4 percent; however, it ranges from 0.2 percent to 15 percent, according to age group and other health problems (Li et al, 2020). Untill the preparation of this proposal (3 April 2020), more than 1,010,000 cases of COVID-19 have been reported in more than two hundred countries and territories, resulting in over 53,000 deaths but more than 211,000 people have recovered from this deadly virus (Worldometer, 2020). Since the first reports of cases from Wuhan, a city in the Hubei Province of China, at the end of 2019, more than 80,000 COVID-19 cases have been reported in China, with the majority of those from Hubei and surrounding provinces. A joint World Health Organization (WHO)China fact-finding mission estimated that the epidemic in China peaked between late January and early February 2020 (WHO Media Report, 2020), and the rate of new cases decreased substantially by early March. However, at present time cases have been reported in all continents, except for Antarctica, and have been rapidly rising in many countries of the world. The rapid increment in the cases of Covid-19 throughout the world including the United States, most countries in Western Europe (including the United Kingdom), and recently it has been reported in South-east Asia and this has forced the countries to announce sudden lockdown. The virus is typically spread from one person to another via respiratory droplets produced during coughing (Centers for Disease control and Prevention, 2020). It may also be spread from touching contaminated surfaces and then touching one's face (Centers for Disease control and Prevention, 2020). The virus can live on surfaces up to 72 hours (National Institutes of Health, 2020). The time from exposure to onset of symptoms is generally between two and fourteen days, with an average of five days (Centers for Disease control and Prevention, 2020 Zhou et al, 2020). The standard method of diagnosis is by reverse transcription polymerase chain reaction (rRT-PCR) from a nasopharyngeal swab. The infection can also be diagnosed from a combination of symptoms, risk factors and a chest CT scan showing features of pneumonia (Jin YH et al, 2020). The recommended measures to prevent infection include frequent hand washing, social distancing (maintaining physical distance from others), and keeping hands away from the face (Perlman, 2020). The use of sanitized masks is recommended for suspect persons and their caregivers, but not for the general public, although simple cloth masks may be used by those who desire them (Tang et al, 2020; Li et al, 2020). There is no vaccine or specific antiviral treatment for COVID-19. It can be cured by the treatment of symptoms, supportive care, isolation, and experimental measures. On February 20, 2020, a young man in the Lombardy region of Italy was admitted with an atypical pneumonia that later proved to be COVID-19. In the next 24 hours there were 36 more cases, none of whom had contact with the first patient or with anyone known to have COVID-19. This was the beginning of one of the largest and most serious clusters of COVID-19 in the world (Livingston, 2020). Despite aggressive effort, the disease continues to spread and the number of affected patients is rising in Italy and it has also becomes higher than that of China. Italy has recorded higher number of cases per day and new deaths per day (>900, highest daily figure in the outbreak so far) than China (BBC, 2020). Till present date (2020 March 29) the coronavirus COVID-19 has affected 199 countries and territories around the world with a total 664,590 cases, 30,890 deaths and 1,42,368 recovered cases (Worldometer, 2020). The World Health Organization (WHO) declared the 2019–20 corona virus outbreaks a Public Health Emergency of International Concern (PHEIC) on 30 January 2020 and a pandemic on 11 March 2020. The evidences of local transmission of the disease have been found in many countries across all six WHO regions and most of the countries have announced an emergency alert throughout the countries.

1.2 Statement of the Problem

This project will study the side effects of corona virus on human beings life in case of socio-economic affairs and aims to solve basic problems related this virus. Because of lack of awareness, lack of intellectual on this virus, lack of vaccines medicines and lack of integrated work, the covid-19 virus has not gotten any solution still this proposal proposed. So the purpose of this study is to fill some gaps of the above problem by responding the following questions: individuals, society, and government, health institutions are consent to this killer virus by co work together to live normal life on this world.

  • .What is the socio-economic problems of corona virus?
  • .What makes the covid-19 virus is more danger than other viruses on influencing human beings day to day income?
  • .What are the economical effects that the human beings loses?

1.3. Objectives The project is to give detail information in order to understand the side effects of corona virus. It contains the general and specific objectives. 1.3.1 General Objective The general objective of this study is to understand the side effects of corona virus on human beings life in case of socio-economic affairs. 1.3.2 Specific Objectives Based on the above benchmarks there are also some specific objectives these are: To identify the major obstacles of the persons and health institutions to protect this virus. To know how the covid-19 virus change this worlds economy. To identify the permanent solution to protect and erase covid-19 from Earth's surface. 1.4 Methodology of the Research 1.4.1 Data collection techniques Data will be collected by reading books and flowing mass media with the help of internet and like

1.4.2 Source of Data The Project work design will be reviewing related causes and media news are used to investigate the side effects of corona virus on human beings life in case of socio-economic affairs. If necessary, picture and diagram will be used for this project work.

1.4.3 Sample Size and Techniques The project will be done by reading journals, using internet, from person who works in the field that relates with it and so on. After the above things done the gathered information are analyzed, interpreted, and wrote away that people will easily understand and use it.

1.5 Significant of the Project

The project is believed to know the side effects of corona virus on human beings life in case of socio-economic affairs. Some significant of this project are the following: Develop basic knowledge and drawback about covid-19. To motivate everybody to protect oneself from this killer and live changer virus. It may guide others when students work with such project as reference material.


1.6 Scope of the study and Limitation study

1.6.1 Scope of the study In this project I will do concepts, reasons, facts related to the side effects of corona virus on human beings life in case of socio-economic affairs. The side effects of corona virus on human beings life in case of socio-economic affairs may have large portion to study, but it restricted by only some parts.

1.6.2 Limitation of the study

When I proceed or conduct this project there are problems facing at the beginning up to end of this proposal paper. Some of the limitations are: @ Lack of reference material @Lack of internet service reviewing some other related notes. @ Financial or budget problems.

1.7 Organizational structure of the paper 1.7.1 Time schedule The time plan is explaining how to the investigation expects to carry the project. It is duration of the activities from the topic selection to the final presentation. The following table shows time schedule for each activity per month. NoNumber of activity to be performedFeb 2021GCMarch 2021GCApril 2021GCMay 2021GC1Selection and submission of paper topic*2Project development**3Discuss with draft paper*4Research writing*5Edition after feedback*6Writing normal project**7Project development**8Feedback and discuss with advisor***9Project writing for submission***10Final project submission and presentation*






1.7.2Cost Budget This is the indication of total expenditure to fill the gaps of the project or to complete the project work. Items descriptionQuantitySingle cost in BIRRTotal cost in BIRRFlash1300300Secretary/typing115001500Printing403120Paper1raw250250Pan 41040Pencil155Photo copy280160Binding material23060Mobile card / for data25 BIRR250 Per month1000












CHAPTER TWO 2. Literature Review 2.1 Related literature review

Many studies have found that population health, as measured by life expectancy, infant and child mortality and maternal mortality, is positively related to economic welfare and growth (Pritchett and Summers, 1996; Bloom and Sachs, 1998; Bhargava and et al., 2001; Cuddington et al., 1994; Cuddington and Hancock, 1994; Robalino et al., 2002a; Robalino et al., 2002b; WHO Commission on Macroeconomics and Health, 2001; Haacker, 2004). There are many channels through which an infectious disease outbreak influences the economy. Direct and indirect economic costs of illness are often the subject of the health economics studies on the burden of disease. The conventional approach uses information on deaths (mortality) and illness that prevents work (morbidity) to estimate the loss of future income due to death and disability. Losses of time and income by careers and direct expenditure on medical care and supporting services are added to obtain the estimate of the economic costs associated with the disease. This conventional approach underestimates the true economic costs of infectious diseases of epidemic proportions which are highly transmissible and for which there is no vaccine (e.g. HIV/AIDS, SARS and pandemic influenza). The experience from these previous disease outbreaks provides valuable information on how to think about the implications of COVID-19 The HIV/AIDS virus affects households, businesses and governments - through changed labor supply decisions; efficiency of labor and household incomes; increased business costs and foregone investment in staff training by firms; and increased public expenditure on health care and support of disabled and children orphaned by AIDS, by the public sector (Haacker, 2004). The influenza virus is by far more contagious than HIV, and the onset of an epidemic can be sudden and unexpected. It appears that the COVID-19 virus is also very contagious. The fear of 1918-19 Spanish influenza, the “deadliest plague in history,” with its extreme severity and gravity of clinical symptoms, is still present in the research and general community (Barry, 2004). The fear factor was influential in the world’s response to SARS – a coronavirus not previously detected in humans (Shannon and Willoughby, 2004; Peiris et al., 2004). It is also reflected in the response to COVID-19. Entire cities in China have closed and travel restrictions placed by countries on people entering from infected countries. The fear of an unknown deadly virus is similar in its psychological effects to the reaction to biological and other terrorism threats and causes a high level of stress, often with longer-term consequences (Hyams et al., 2002). A large number of people would feel at risk at the onset of a pandemic, even if their actual risk of dying from the disease is low. Individual assessment of the risks of death depends on the probability of death, years of life lost, and the subjective discounting factor. Viscusi et al. (1997) rank pneumonia and influenza as the third leading cause of the probability of death (following cardiovascular disease and cancer). Sunstein (1997) discusses the evidence that an individual’s willingness to pay to avoid death increases for causes perceived as “bad deaths” – especially dreaded, uncontrollable, involuntary deaths and deaths associated with high externalities and producing distributional inequity. Based on this literature, it is not unreasonable to assume that individual perception of the risks associated with the new influenza pandemic virus similar to Spanish influenza in its virulence and the severity of clinical symptoms can be very high, especially during the early stage of the pandemic when no vaccine is available and antivirals are in short supply. This is exactly the reaction revealed in two surveys conducted in Taiwan during the SARS outbreak in 2003 (Liu et al., 2005), with the novelty, salience and public concern about SARS contributing to the higher than expected willingness to pay to prevent the risk of infection. Studies of the macroeconomic effects of the SARS epidemic in 2003 found significant effects on economies through large reductions in consumption of various goods and services, an increase in business operating costs, and re-evaluation of country risks reflected in increased risk premiums. Shocks to other economies were transmitted according to the degree of the countries’ exposure, or susceptibility, to the disease. Despite a relatively small number of cases and deaths, the global costs were significant and not limited to the directly affected countries (Lee and McKibbin, 2003). Other studies of SARS include (Chou et al., 2004) for Taiwan, (Hai et al., 2004) for China and (Sui and Wong, 2004) for Hong Kong. There are only a few studies of economic costs of large-scale outbreaks of infectious diseases to date: Schoenbaum (1987) is an example of an early analysis of the economic impact of influenza. Meltzer et al. (1999) examine the likely economic effects of the influenza pandemic in the US and evaluate several vaccine-based interventions.











CHAPTER THREE 3. Side effects of corona virus on human beings life in case of socio-economic affairs 3.1 Modes of transmission corona virus Respiratory infections can be transmitted through droplets of different sizes: when the droplet particles are >5-10 μm in diameter they are referred to as respiratory droplets, and when then are <5μm in diameter, they are referred to as droplet nuclei.1 According to current evidence, COVID-19 virus is primarily transmitted between people through respiratory droplets and contact routes. Droplet transmission occurs when a person is in in close contact (within 1 m) with someone who has respiratory symptoms (e.g., coughing or sneezing) and is therefore at risk of having his/her mucosae (mouth and nose) or conjunctiva (eyes) exposed to potentially infective respiratory droplets. Transmission may also occur through fomites in the immediate environment around the infected person.Therefore, transmission of the COVID-19 virus can occur by direct contact with infected people and indirect contact with surfaces in the immediate environment or with objects used on the infected person (e.g., stethoscope or thermometer). Airborne transmission is different from droplet transmission as it refers to the presence of microbes within droplet nuclei, which are generally considered to be particles <5μm in diameter, can remain in the air for long periods of time and be transmitted to others over distances greater than 1 m.

3.2 Human activities to protect corona virus After the end of the corona virus crisis and when life returns to normal, all of us will need skin therapy and see a dermatologist because of the widespread use of disinfectants and chemical conditioners, because now we have to constantly disinfect most devices to prevent infection with the virus. Increasing disinfection of tools such as handles, elevator buttons, and cell phones have made people obsessed with cleanliness. Frequent washing of hands, quick washing of clothes after going out once and taking a shower every day with hot water, has become a daily habit. Social distancing is likely to lead to increased levels of stress, anxiety and discomfort for children and adolescents as they are not able to communicate and engage with their friends and peers during lockdown, especially for low income households that do not have access to ICT and social media for their children. Adolescents may miss out on some of the most important moments in their lives due to social and physical distancing. The growing importance of health in society has led many stores to place disinfectants at the entrances of shops to relieve customers' worries, so that people can use them when entering and leaving, and their concerns about the possibility of contamination reduce viruses. Many social experts believe that the need for continued health care will have a profound effect on human lifestyles, and that as long as the corona virus threatens, people will become so accustomed to health issues that they will no longer be able to reduce their use of hygiene products (Chen et al., 2020). 3.3.The closure of schools, universities, and other institutions To prevent the spread of corona virus has caused people to spend a lot of time at home, which can lead people to acquire skills and hobbies such as reading, painting, music, sewing, cooking, entertain and so on, and discover a lot of hidden talents. There is no doubt that quarantine and distance from society can have many negative effects, and not attending school for long periods reduces students' ability to learn. Of course, the closure of companies, factories, and department stores have serious economic consequences, especially for employees and workers who do not have job insurance and a fixed salary and it is difficult for them to stay at home economically.On the other hand, following the escalation of the corona epidemic, travel and tourism restrictions, and the closure of many passenger companies, the economies of many countries are becoming increasingly vulnerable, and peopleworking and investing in this area are facing difficult challenges. Of course, there is no doubt that after the end of the corona crisis, the movement of people around the world will increase and companies that suffer in the current situation will be able to compensate for the economic losses caused by the corona disease in the future. Construction:

• Under severe pressure, likely to be one of the most impacted sectors. 

Manufacturing:

• Total shutdown or sharp drop in production capacity and reduced employment in industrial parks.   

• Sub-sectors such as textiles and garment (T&G) and leather and leather products will be hit hard. • The flower industry faces catastrophic losses.

• Agro-food processing and beverages sub-sector will be relatively less impacted.

Services (tourism, hospitality, aviation, trading, retail): • One of the most impacted sectors. Unlikely to recover before Q4 at the earliest and possibly later in 2021.


A.Business closures In May,Pier 1 announced it would close as soon as possible. It had sought court protection in February and had hoped that someone would buy the business, but the subsequent recession made this seem unlikely. High likelihood of closure of businesses and large-scale loss of jobs/livelihoods, in both the formal and informal sectors, especially in urban areas. Women, who are disproportionately represented in the informal sector, will be impacted seriously. B.Restaurant sector The pandemic has impacted the restaurant business. In the beginning of March 2020, some major cities in the world announced that bars and restaurants would be closed to sit-down dinners and limited to takeout orders and delivery. Later in the month, many states put in place restrictions that required restaurants to be takeout or delivery only. Some employees were fired, and more employees lacked sick leave in the sector compared to similar sectors.


C.Science and technology The pandemic has impacted productivity of science, space and technology projects, and to the world's leading space agencies – including NASA and the European Space Agency having to halt production of the Space Launch System, James Webb Space Telescope, and put space science probes into hibernation or low power mode. Most of both agencies' field centers have directed most personnel to tele work. Various IT companies had launched several programs to sustain in this pandemic and in this new normal life. The pandemic may have improved scientific communication or established new forms of it. For instance a lot of data is being released on preprint servers and is getting dissected on social Internet platforms and sometimes in the media before entering formal peer review. Scientists are reviewing, editing, analyzing and publishing manuscripts and data at record speeds and in large numbers. This intense communication may have allowed an unusual level of collaboration and efficiency among scientists. D.Tourism Philia Tounta summarised likely effects of COVID-19 on global tourism early in March 2020: severe effects because tourism depends on travel quarantine restrictions fear of airports and other places of mass gathering fears of illness abroad issues with cross-border medical insurance tourism enterprise bankruptcies tourism industry unemployment airfare cost increases damage to the image of the cruise industry E. Events and institutions The pandemic has caused the cancellation or postponement of major events around the world. Some public venues and institutions have closed. The most affected sector which is not going to renovate in the next few months or maybe a year is the Travel And Tourism Industry. No matter how much the restrictions get uplifted still people will be barring themselves from traveling and touring because that is the main cause of the spread of this deadly disease. Therefore, let it be domestic tourism or international tourism both sectors will be facing the crisis more than any other sector. Although we may discern less downfall in domestic than compared to international tourism because domestic traveling may be prevailing in at a slower pace which may help in its uplifting somehow more than the other. Hotels, restaurants, resorts, casinos, bars, and the retail industry will keep facing a declining impact on them for the next few months.

                 F.Transportation
                       


                                G.  Aviation
                            

The planes are parked due to the sharp decrease in demand for air travel.The pandemic has had a significant impact on the aviation industry due to the resulting travel restrictions as well as a slump in demand among travelers. Significant reductions in passenger numbers have resulted in planes flying empty between airports and the cancellation of flights.

H. Cruise lines Cruise lines had to cancel sailings after the outbreak of the COVID-19 pandemic. Bookings and cancellations grew as extensive media coverage of ill passengers on quarantined ships hurt the industry's image. I. Railways Several rail operators had to receive state aid and/or reduced their scheduled services. J. Gambling and betting Gambling companies are eager to shift customers from retail into online casino and poker games in order to fight the loss of revenue due to the cancellation of sports fixtures and the shutdown of betting shops. Gambling groups increased the advertising of online casino games and play on social media. Some argue that virtual racing, as well as draw based games, are also proving popular. Some software betting providers have specially designed campaigns promoting online betting solutions in order to attract betting companies. Long term consequences to the betting and gambling industry might be: Death of small retail operators and providers, increase in M&A, more focus on online, innovation in online meaning that even the existing products like the sports book will pay closer attention to obscure sports like soap soccer or quid ditch and more prominent spot for virtual games online. K. Unemployment The International Labour Organization stated on 7 April that it predicted a 6.7% loss of job hours globally in the second quarter of 2020, equivalent to 195 million full-time jobs. They also estimated that 30 million jobs were lost in the first quarter alone, compared to 25 million during the 2008 financial crisis.

The pandemic's economic impacts are likely to increase sexual exploitation and child marriage, leaving women and girls in fragile economies and refugee contexts particularly vulnerable. Looking ahead, the policy response to COVID-19 needs to distinguish between two distinct but overlapping phases: response (or management of immediate health and economic shocks) and recovery. Response needs to focus on the obvious and immediate priority to save lives and livelihoods. The front-line policy measures for response are emergency support for overwhelmed health systems and for the millions of formal and informal sector workers, enterprises and businesses who are being hit hard. Its duration can vary but anywhere between the first 3-6 months from the outbreak of the pandemic is a reasonable assumption. Recovery is essentially about return to trend as quickly as possible but doing so smartly, taking advantage of large-scale policy measures to tackle systemic risks and development shortfalls exposed by the pandemic rather than simply return to business-as-usual. A shift towards recovery can begin 3 months into the pandemic and could last anywhere between 12-18 months from the outbreak of the pandemic. In terms of the policy implications of the pandemic, this assessment argues that response and recovery and the humanitarian, health and socio-economic dimensions of the crisis need to be thought through and addressed integrally, as none can be tackled effectively on their own without taking action on the other(s), recognizing the inter-dependencies between them. The uplifting recession arriving in, the unemployment rate is rising at a massive rate, with lots of businesses getting shut down and weakening of the manpower ultimately. The conditions will not be improvising rapidly and a lot of country people will be facing an enormous financial catastrophe for next approximately a year. People are becoming jobless and it's becoming very arduous to manage their living and are eventually facing an enormous financial crisis. The prevalence of corona virus causes people to reconsider many aspects of life. The Public administration, education and health are also some of the sectors negatively affected by the pandemic. COVID-19 being a health threat, the health sector was more challenged, having to change how they think, act and had to look for a completely new operation mechanism in dealing with the pandemic. Globally, the health sector has also been challenged by the pandemic as the services of public hospitals grew in high demand despite the lack of more sophisticated testing equipment which are mostly found in private hospitals hence, unfordable by ordinary citizenry (Ozili & Arun 2020.As is the case in many (developing) countries globally, there has also been a general fear of running out of supplies for pharmaceuticals and other testing equipment. At the time of writing this paper, there has fortunately been no fatality cases that have been recorded in, however, the general impact of the virus is expected to be negative as the operations of the sector is affected by the outbreak, where even some health professionals had do go under quarantine. While school closures are an important response to mitigating the spread of COVID-19, prolonged closures present major risks to education and the well-being of children, families, teachers, and communities. All school-aged children who are enrolled in schools are now at home with their in-school education suspended. School closures will affect vulnerable children and their families the most because they are unlikely to benefit from parental home-schooling or supervision or distance education modalities such as paper-based and or radio/TV programmes, thus, widening the gulf between the lowest and highest income quintiles. The main tools for distance learning are radio and television. Many children, however, do not access radio or television-based distance education and given the potential negative impact on economic activities of the COVID-19 response such as lockdown and social distancing, low income households are likely to be impacted the worst – and many of their children will neither continue their education from a distance nor ever return to school. School closures also negatively impact children’s nutritional status as many cannot access school feeding programmes, especially in settings of humanitarian responses. Distance education through Radio and TV, have to be framework to implement distance education through radio & television for COVID-19 response to the countries. The restrictions caused by social distancing have affected education at all levels and will continue to do so for at least several more months as learners and teachers are not able to physically meet at school. This limitation will likely limit opportunities for students to learn. The learning loss is greater for a low-income country. The capacity of schools to support the learning of their students remotely and differences among students in their resilience motivations and skills to learn independently are likely to exacerbate gaps in educational performance. The education sector’s limited capacity to design and implement effective education responses due to a lack of technological infrastructure in rural areas and for most poor households in urban areas will amplify the problem. These factors have compounded the situation and have put millions of children at the risk of dropping out of school, getting exposed to various forms of exploitation and abuse including early marriage and child labour. Children are not the only ones who will feel the brunt of the impact. Women perform the vast majority of unpaid work, more than three times as much as men. School closure, as a preventive measure in containing the outbreak, exacerbates the burden on parents, particularly women, as additional childcare responsibilities fall on them. Moreover, girls are often obliged to take care of household chores and look after their siblings. This is likely to increase when schools are closed. Countries should extend the lockdown as part of precautionary measures for COVID19, the number of school days for the second term will also be disrupted which may impact negatively on teaching and learning. Disruption in teaching and learning would make it almost impossible for formal assessment for the 2020 academic year to take place. School closures are detrimental to children’s and adolescents’ learning. As many come from low income households, their families are neither wellequipped to provide the necessary learning spaces, materials and devices to access education materials nor are they likely to be in a position to supervise this process to successfully bridge this period. It is possible that impairment of learning outcomes, with increased needs for catch-up programmes, will not be the only casualty but also that some children and adolescents may not return to school at all given the additional economic hardship their families have been experiencing. In addition, girls exposed to unwanted pregnancies will be forced to drop out of school to take care of their children. School closures also impact children’s nutritional status negatively as many cannot access school feeding programs weakening their immune systems. Although COVID-19 as a new virus is not researched well-enough to fully understand its impacts on children, they may be unusually at risk compared to the average epi-curve, not only due to high incidence of respiratory diseases, malnutrition and acute watery diarrhoea, but also because they live with their low-income families in overcrowded settings where physical distancing measures are hard to follow effectively. The distress caused by the situation, in addition to fear and anxiety, may put some children at risk of substance use and other risky behavior. Moreover, due to restricted movement, adolescent girls, while staying at home, may be exposed to a wide range of risks such as teenage pregnancies and pressure to marry early. Moreover, it is expected that children’s malnutrition will increase due to household food insecurity triggered by measures such as business closures, social distancing protocols, reduced parental caring practices and supervision as well as limited access to health services for common child illnesses and for treatment of moderate and severe wasting.

3.4 The consequence of corona virus on humans day to day activities Social, Political, Economic, and Psychological Consequences of the COVID-19 Pandemic to the priority areas described here, RSF is especially interested in research on the social, political, economic, and psychological consequences of the COVID-19 pandemic. The following groups of vulnerable children and adolescents are exceptionally at risk: sexually exploited adolescent girls and boys, adolescents living with HIV/AIDS, and children and adolescents living with disabilities Sexually exploited girls and young sex workers work in bars and small local beverage houses that have closed. In addition, the risks of having unintended pregnancies, acquiring HIV and other STIs is likely to increase. The socio-economic impacts being felt are wide-ranging and serious, with the potential to become severe, depending on the combination of the pandemic’s trajectory, the effects of counter-measures and underlying and structural factors. The pandemic has also affected cities through its effects on production and consumption of goods and services. Weak demand for goods and services in cities means lower revenue, causing massive layoffs, especially of casual workers who live in informal settlements and slums. There has also been a disruption of supply chains, owing largely to the closure of manufacturing industries and transport bans on services connecting the capital with regions. Daily laborers and informal sector operators have been severely hit by such a disruption as their income relies on their daily income. Such a vicious cycle of production and income losses will damage the urban economy as well as the ability of cities to contain the pandemic.

3.4.1. Effects on the Economy, Workers and Inequalities Job losses quickly reached levels not seen since the Great Depression, with economic output likely to fall more in the first two quarters of 2020 than it did during the 2008-2009 Great Recession. Congress passed large stimulus bills, but they were insufficient, given that our frayed social safety net left millions of families struggling to make ends meet without access to paid sick/family leave or health insurance. “Social distancing,” remote working and the distinction between “essential” and “non-essential” workers have had differential effects by gender, race/ethnicity, education, occupation. The most vulnerable have faced greater risks, including low-wage workers, the elderly, those with chronic health conditions, and those living in close quarters, like jails and prisons or migrant detention facilities. And, many low-wage workers in the service industries are more likely to permanently lose their jobs or be called back to work more slowly than higher-wage workers in other industries. The economic consequences are likely to last into the recovery, especially for those in low-wage jobs, those just entering the labor force and those nearing retirement.


Impact by gender Around the world, women generally earn less and save less, are the majority of single-parent households and disproportionately hold more insecure jobs in the informal economy or service sector with less access to social protections. This leaves them less able to absorb the economic shocks than men. For many families, school closures and social distancing measures have increased the unpaid care and domestic load of women at home, making them less able to take on or balance paid work. The situation is worse in developing economies, where a larger share of people are employed in the informal economy in which there are far fewer social protections for health insurance, paid sick leave and more. Although globally informal employment is a greater source of employment for men (63 per cent) than for women (58 per cent), in low and lower-middle income countries a higher proportion of women are in informal employment than men. Sub-Saharan Africa, for example, around 92 per cent of employed women are in informal employment compared to 86 per cent of men. It is likely that the pandemic could result in a prolonged dip in women's incomes and labour force participation. The ILO estimates global unemployment to rise between 5.3 million (“low” scenario) and 24.7 million (“high” scenario) from a base level of 188 million in 2019 as a result of COVID-19's impact on global GDP growth. By comparison, global unemployment went up by 22 million during the 2008-9 global financial crisis. Women informal workers, migrants, youth and the world's poorest, among other vulnerable groups, are more susceptible to lay-offs and job cuts.

The negative dimension in addition to the unbearable suffering and loss of life, the corona virus has already affected the world economy and damaged the global market share. Business owners around the world are feeling the effects of these behavioral changes and economists predict that all of this could lead to economic losses of about hundreds of billions of dollars. Continuing to increase the incidence of the corona, marginalized neighborhoods and the center of the poorer economic strata of cities (due to lower health, more need to work outside and not being able to stay at home, lack of access to private cars, etc.) are more prone to infection. Which leads to the following two phenomena: 1) highlight the ominous phenomenon of poverty 2) highlights the ominous phenomenon of unemployment and amage to small and unstable jobs, daily wages, and seasonal. Corona seems to be the real phenomenon of globalization (Yin & Wunderink, 2018). But we must keep in mind that global threats and opportunities must come together. What is certain is that living in the world and the post-corona space requires a rethinking of the biological and intellectual system. From this point of view, this should be considered an opportunity to make great changes in future life. Corona is an invasion of reality and a kind of a slap in the face to the proud world. At the same time, it can be a factor of social solidarity and empathy, cooperation,morality, and rationality. Today's message to mankind is that there is no other way but peaceful interaction and coexistence with one's fellow man and the environment. Thus, along with all the negative consequences, corona can strengthen world peace and unity and be the beginning of a peaceful and virtuous lifestyle (Zhao et al., 2012).

Broad-based, substantial and systemic risk to women and girls.  

• Disadvantaged in decision-making at household level on the response to the pandemic. • Women over-represented in the workforce in industrial parks, thus, most impacted. • Women are over-represented in the workforce in the hard hit tourism and hospitality sector (80%) and likely to bear the brunt of job losses. • Frontline health workers – many of them women – at significant risk of being infected due to a lack of personal protective equipment (PPE). • Additional burden of childcare for women and girls, as school-age children stay at home, with girls suffering disproportionately compared to boys in access to school and learning opportunities.

• Significant risk of increased violence against women and girls (VALW) and reduced access to essential support services.

Available global evidence suggests that the COVID-19 pandemic has differentiated impacts on women and men. This assessment methodology, therefore, includes a gendered analysis throughout all thematic areas, drawing on primary and secondary sources as well as quantitative and qualitative date. When quantitative data related to individuals is used in the analysis e.g. employment, income, COVID knowledge and preventative behaviors, data is disaggregated, whenever possible, by sex. The world is facing something which it hasn't in the past few decades and this is what is leading precisely to the global economic crisis. The world has changed and everything is stuck or if considered moving then at a very slow pace. Yes, and all this has happened due to the reason behind the global pandemic going on and that is COVID 19. The first case of this extremely despicable, pathetic, and deadly Corona Virus was found on 30th January 2020. Since then the COVID cases accelerated at a rate that became indestructible slowly all around the globe, even after the whole world went under unanimous lockdown. Lockdown enabled stationary life, where everything halted and everyone was merely concerned about anything else but their lives. And this pandemic has led everyone to understand the importance of the precious life we are given by God, over everything else.  The Pandemic the world is going through for the past more than a year has affected the world in every possible way and has affected every economic sector adversely. Over the years the stability that every economic sector has gained went into vain in just the past due to global shut down. Calling a unanimous shutdown globally the world has faced the conditions in every sector which are pathetically antagonistic. If we were ever asked to imagine a stationary world in which we are living right now, was almost impossible a year back. And now dwelling the normal life we used to live a year back is very hard to visualize.  The impacts of global shut down have led to the downfall of the stock market which is awful compared to the past few decades. With most of the economic activities that are suspended due to, many nations facing extended lockdowns. The current scenario of the worlds economy is alarming which will start comprehending rehabilitation in 2021 and nowhere before that. The depression in Crude oil tariffs which are at their lowest level ever and oil industries are already encountering the enormous obligations, if they confront ineptitude to reimburse their deficits in duration, the outcomes will prove to be horrendous for the banking sector. As banks will incur huge losses. Even the insurance sector has already begun facing dropping graphs. 


3.4.2.Effects on Politics and Political Behavior During crises, citizens expect governments to take bold actions, including some that are typically carried out in the private sector. How local, state, and federal governments responded to the pandemic may influence elections, from who engages politically, who registers to vote, who votes, or how they vote.Trust in institutions may shift based on perceptions of government responsiveness and performance during the pandemic. In recent decades, as inequality increased, legislators were most responsive to the concerns of economic elites. 3.4.3.Effects on Immigrants and Racial and Ethnic Minorities The most vulnerable and disenfranchised, particularly people of color and non-citizens, have been most affected by COVID-19 in part because they are more likely to live in unstable and crowded conditions in under-resourced areas, to earn less, and have lower savings. Many jobs deemed essential have low wages and few benefits, such as home health aides, nursing assistants, delivery workers, farm workers, grocery and food processing workers.Racial/ethnic differences in school quality have contributed to rising inequalities. 3.4.4.The Social Fabric and Psychological Effects The pandemic forced a rapid shutdown of the regular patterns of social interaction that fueled economic and social activities. Most of the population has experienced disruptions in the normal rhythms of everyday life due to mandated social distancing, with the likelihood of continuing disruptions in work, school, social, and family relationships. In response, the infrastructures of education, health, social services and faith-based organizations, government, criminal justice, the law, and many others that depend on interpersonal contact were forced to transform their practices rapidly moving some online, delaying or postponing others, and shutting some down altogether. The consequences of these decisions are not yet understood but are likely to be long lasting, in part due to differential access to digital technology. Which populations, regions, organizations, or institutions have or are likely to prove more resilient. The pandemic presents significant threats to physical safety, economic security, and trust in institutions. These threats can influence cognitive, affective, and behavioral outcomes relevant to financial decision-making, political behavior, and treatment of others. Perceived threats to health/safety, economic wellbeing/standing, and social group memberships (e.g., “American” identity, race/ethnic groups, etc.) can result in either a narrowing of concern for others (increased egocentric, self-protective thoughts and behaviors) or an expansion in concerns for others (increased other-focus, altruistic and pro-social thoughts and behaviors). Also, these threats can engender animus toward those perceived to be outside of one’s circle of concern. The corona crisis has dealt with the fact that their lives and security could be seriously endangered on earth (Gralinski & Menachery, 2020). These conditions, which endanger the security of human beings in the world, do not have the slightest role and value in ensuring the health and mental security of human beings, and human beings feel helpless against this disease. The consequences of corona in the economic, political, social and cultural spheres and, consequently, its psychological state is not yet clear, but its consequences will undoubtedly be widespread (Imai et al., 2020). Various countries around the world have incurred huge economic costs to deal with the crisis, and according to forecasts, the world will face an economic recession in the post-corona virus era. However, it should be noted that the economic capabilities of different countries are different. Although it is not possible to estimate the number of serious and catastrophic casualties from epidemics, there is one "point of hope" and that is the vast "accumulated experience" that human beings gain in the face of future crises. If the history of epidemics is a guide to humanity, the spread of the disease, like any other, could create a wave of innovation tailored to how lifestyle changes. The effects and consequences of the COVID-19 virus on lifestyle include cultural, economic, political, educational, environmental, psychological and religious, and jurisprudential, which can be traced back to cultural changes in society. The transition from individual fear to collective fear. The transition from individual concern to collective concern. The transition from a materialist to a spiritualist attitude. The transition from extreme extremism to humiliation. The transition from a sense of security to a sense of insecurity. The current COVID-19 crisis is challenging the delivery of essential services to the most affected segments of the population. Children and families who are already vulnerable due to socio-economic exclusion or those who live in overcrowded settings are particularly at risk. Children may be disproportionately affected by measures taken to control the outbreak, such as school closures and physical distancing measures. Special attention needs to be paid to prevent and minimize negative consequences for children as much as possible. If exceptional measures are not taken, we will observe at the worsening of monetary and multidimensional child poverty with a potential regression of the development objectives’ gains the country has so far achieved. During additional economic hardship, many may accept any offer despite its risks as a means of simple survival. In addition, the likelihood of negotiating safe sex and the use of condoms will be compromised which may reverse gains made thus far in curbing the impact of HIV/AIDS and the incidence of unplanned pregnancy among these target groups. Young people living with HIV will be one of the most affected groups. Since most of these young people have pre-existing health concerns, COVID-19 will pose a major challenge to their survival. This also leads to extreme stress and anxiety among them out of the fear of being infected by the new virus. Prohibition of meetings among four or more people further compromises the psychosocial support they get from their peers. Furthermore, the priority given to the COVID-19 response could also affect their health to the extent that ART and related counselling services are discontinued or reduced. 3.5 Food availability and prices The pandemic's impact on food availability and prices depends on what happens to the demand and supply of foods. At the beginning of the pandemic, many experts feared that the crisis would lead to food price increases (e.g., Reardon, Bellemare, and Zilberman 2020). So far, global staple food prices have been remarkably stable, most likely due to good harvests in the previous season and sufficient global storage (Glauber et al. 2020). The economic disruptions caused by the COVID-19 and the increased uncertainty are evidently being reflected by increased financial market volatility, and general disruption of supply chains globally. The COVID-19 outbreak is the world’s most pressing uncertainty. While the exact effects of the corona virus on the economy is not fully known at least at the moment, it clearly does pose a serious risk to the wellbeing of the general economy. An epidemiological threat such as the COVID-19 disease can have disruptive effects on economies. Although the virus cannot be Private Generally, government contained the risk to the economy can be eliminated. Furthermore the importance of focusing on the assessments on the ways in which the outbreak may affect consumers, businesses and governments at large. The potential combined impact of COVID-19 on unemployment, households’ purchasing power, food prices, and food availability in local markets could severely jeopardize access to food in the most vulnerable countries. Ensuring sufficient, diverse and nutritious food contributes to strengthening people’s immune system and increases their capacities to cope with diseases. Adequate nutrition is essential for the health and wellbeing of school children. Many school children who used to benefit from school feeding May already be nutrient deficient, vulnerable and at risk. Expected negative economic impacts and the potential disruption of food systems together with household mitigation measures can further restrict children’s access to adequate food. Even when the scenario changes and schools reopen, the effect on schools will remain significant as the current condition of school health and nutrition services and WASH facilities is extremely poor. Disinfecting schools and universities used as quarantine centers, improving hygiene facilities and putting measures in place for provision or restoration of school health and nutrition services will place additional pressure, however, on already stretched education sector budgets. COVID-19 is a new virus and we do not know enough yet about how it affects children or pregnant women. We know it is possible for people of any age to be infected and transmit the virus, although older people and/or those with pre-existing medical conditions seem more likely to develop serious illness. The infection caused by the virus can be associated with acute respiratory distress syndrome and the overall condition of the individual who contracts the virus can be aggravated by existing conditions. Increased rate of illness is expected to put pressure to the quality of health care with potential service saturations and severe limitations for poorer households in terms of affordability and accessibility. Primary health care services must continue or more children will die of these preventable causes than of COVID-19. Health services to non-COVID-19 related needs would diminish if health service providers are mobilized to respond to COVID-19. There are three-underlying causes of malnutrition namely: Household food insecurity due to loss of income particularly among the lower wealth quintile households with children under 5; there is therefore a need to advocate for expansion of the Productive Safety Net Programme (PSNP); Caring practices for children and women are likely to go down as livelihoods are affected; and Access to health services for common child illnesses and for treatment of moderate and severe wasting maybe be disrupted due to health workers. 3.6 Global reconciliation The world is getting closer to the pain and suffering caused by the outbreak of the corona virus (simultaneous efforts by countries to detect the corona virus vaccine), in fact, the sense of "national homeland" has been formed in the revival of the human conscience in the form of a common human spirit. Changing the concept of power and politics the outbreak of the corona virus has posed a serious challenge to global policy making. Although intrinsic policy-making is problem-oriented and aligned with changes in policy issues and contexts, the speed and extent of this crisis have necessitated changes in macro-decision-making systems.

A study by other countries shows that paying attention and correcting some issues at the macro-policy level can make a difference in how emergency management is conducted. Some of the most important are as follow:

Coordinated and integrated management in times of crisis (as well as increasing national capacity, cohesion at the level of political, social, cultural, religious, and social structure); Pay attention to the effects and political consequences of decisions; and Improving citizen databases and systems integration Environmental affects "environmental respiration" compulsory cessation of greenhouse gas emissions, air pollution, industrial waste and sewage, and cessation of the destruction of natural resources.





CHAPTER FOUR 4. RECOMMENDATION AND CONCLUSION 4.1 RECOMMENDATION The world is facing something which it hasn't in the past few decades and this is what is leading precisely to the global economic crisis. The world has changed and everything is stuck or if considered moving then at a very slow pace. Yes, and all this has happened due to the reason behind the global pandemic going on and that is COVID 19. The impacts of global shut down have led to the downfall of the stock market which is awful compared to the past few decades. With most of the economic activities that are suspended due to, many nations facing extended lockdowns. The current scenario of the world economy is alarming which will start comprehending rehabilitation in 2021 and nowhere before that. Further work will explore the impact of indirect and macro-level impacts, the role of uncertainty in households’ decision-making and the consequences in case of multiple waves of social distancing and the possible effect in case of simultaneous exogenous shocks (e.g., natural disasters). Indeed, these results are particularly important when considering the risk of multiple shocks: where the COVID-19 crisis is forcing most households to use their savings. The COVID-19 virus is unique among human corona viruse since it has high transmissibility, uncontrollable fatal deaths in high-risk age groups, and has ability to cause huge social disharmony and economic loss. The present scenario of increasing Covid-19 patients and number of deaths per day shows that the global population seems to be susceptible to this virus. As the animal origin of the COVID-19 virus is unknown at present, the risk of reintroduction into previously infected areas is also high.




4.2 CONCLUSION I am particularly interested in research on the Side effects of corona virus on human beings life in case of socio-economic affairs the increased inequalities of the last several decades and the differential effects of federal, state, and local policies implemented in response to the pandemic. We are also interested in how the resulting circumstances and outcomes might influence governments to better anticipate and respond to future crises. Ambiguous future if corona continues to spread around the world "the poorer the population, the more likely they are to be infected with the corona virus. In low-income areas, people are forced to leave their homes due to low financial means and seek to provide for themselves and their families.

As economic constraints continue to mount in the face of the corona, economic poverty may spread, and families today, who are financially mediocre, may be added to the weaker economic classes in their community. 

Hopes and fears it seems that today, at this moment, the people, along with their governments, must make the right decision for the future, both in terms of health, economics, and society.


‘ALL PERSONS HAVE TO TAKE COVID-19 VACCINE’


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