Foreign debt: An outstanding loan that one country owes to another country or institutions within that country.

Foreign debt also includes due payments to international organizations such as the International Monetary Fund (IMF). The debt may be comprised of fees for goods and services or outstanding credit due to a negative balance of trade. Total foreign debt can be a combination of short-term and long-term liabilities. One relative measurement of foreign debt safety is that foreign exchange reserves should not be less than outstanding short-term foreign debts. Governments can lower their foreign debts by rescheduling their obligations or simply by paying them off. Foreign countries typically hold U.S. debt in the form of short- and long-term government-issued bonds. (investopedia.com)

Employment and unemployment Employment is a key aspect of any economy. One can describe employment variously to refer to the ability of an economy to put people to work. Employment, or unemployed levels of an economy, is typically determined over a specified period of time, usually one year or more depending on the circumstances. An employed population is that part of a population that makes their contribution towards the production of goods and services. It is usually assumed that people can only be able to provide labour when they reach a certain age. This age varies with the laws of a given country, but usually, one is considered able to work when they reach eighteen years of age. But it is not a guarantee that everyone who is at that age can be productive to the economy. Even when many people have the ability and the expertise to work, sometimes they just cant find a position to work in. This part of the population, that considered able and willing to work, but who cant find positions for work in an economy, is referred to as the unemployed population. Unemployment is a key factor in determining how good the economy of a country is fairing, and is certainly one of the parameters used by economists to measure the performance of an economy. However, it is also true that sometimes economic growth does not necessarily translate to more employment. This is especially true when it comes to modern world economies that are reliant on such things as information technology. Concerns have been raised by economists and workers especially in some specific sectors of the economy, that the surge of Information Technology is not good news to employment and job creation. This, allegedly, is because computers and other such machines are created to be able to perform tasks that were initially performed by humans. One computer, for example, using an automated accounting program, can prepare accounts for an entire organization. Initially, this job would be done by several accountants and auditors. However, these concerns have also been countered by calls for workers and organizations in all sectors of the economy to embrace the changes in technology. For example, rather than complain about possible job losses, people like accountants should learn to use the various technologies and programs in order to remain relevant to their jobs. But perhaps anyone would have to concede that this trend is indeed worth being concerned about.

Industrialization: is central to economic development and improved prospects for human wellbeing. The benefits of industrial production can be seen in all aspects of life from the range of consumer goods available, to the efficiency of transportation systems, to the astounding advances made in computers and communications technology. Since the 18th Century, wealth in the developed countries has paralleled industrial growth, and developed countries continue to produce the lions share of manufactured goods indeed, about 74 percent of the worlds industrial output takes place in the developed world. The positive economic and social results of industrial growth have been accompanied by serious environmental degradation, however, as well as growing threats to health from

occupational hazards. To some extent, these problems are analogous to those of early industrial Europe. In the 19th Century, the shift from a rural, agrarian society to an urban, industrial society initially involved widespread social and economic disruption, unemployment, homelessness, pollution, and increased exposure to health hazards both at work and at home (119). Many of these same problems characterize cities in the developing world today. A substantial share of industrial growth in developing countries revolves around the transformation of raw materials into industrial products such as steel, paper, and chemicals. A wide range of pollutants is associated with these industries. (See Industrialization has Brought Significant Environmental Damage.) In contrast, much of economic growth in developed countries is now in the service sector (e.g., education, entertainment, defense, and finance) and communication sector (e.g., computers, cellular phones, and electronics), which are inherently less polluting. This rapid industrial growth has made water pollution, air pollution, and hazardous wastes pressing environmental problems in many areas of the developing world. Industrial emissions combine with vehicle exhausts to cause air pollution, while concentrations of heavy metals and ammonia loads are often high enough to cause major fish kills downriver from industrial areas. The lack of hazardous waste facilities compounds the problem, with industrial wastes often discarded on fallow or public lands, in rivers, or in sewers designed to carry only municipal wastes.

Debt to GDP ratio