Macroeconomics of flu in Switzerland (Coronavirus-COVID-19):

Introduction 

 Coronavirus disease is an infectious disease which is causes by a new virus. It mainly affects the respiratory system.

The symptoms are cough, fever throat pain, and in severe cases difficulty in breathing. Coronavirus which has been ruling us recently and it is a deadly virus which mainly affects the people who are above 60 and small children(below 10) where these both the age categories has to be extra cautious about the virus,This was just a brief of the virus.It is estimated to take around 2 years to create a drug or medication to cure this coronavirus flu.

As some of the precaution the whole world is following social distancing where the people must not be crowded must not be in the groups more that 5 people and must maintain a distance of 3feet between people.The extra precautions are all the people must wear mask and avoid touching the face frequently with hands and wash hands as frequently as possible.And the interesting fact is that It doesn’t affect the animals. 

Synopsis 

Now we will go into the part macroeconomics of the flu (COVID-19): coronavirus was found in December 2019 in china and later it was named as COVID-19. 

This is the latest in a series of diseases which was discovered like SARS(severe acute respiratory syndrome(which was again started in china and spread worldwide within few months ), bird flu, swine flu, Ebola(which was started in Africa through bat they say and spread worldwide), and HIV(human immuno deficiency virus ) and AID(acquired immune deficiency) which have already caused a pandemic in the early times that have moved from animals into human populations very rapidly. 

Major outbreaks of infectious diseases 

It is not new and have been happening since long time. The 20th century saw major disease outbreaks, such as the Spanish influenza 1919, Asian influenza in 1958 and the Hong Kong influenza pandemic of 1969. 

The emergence of a pandemic is as unpredictable as that of an earthquake, tornado and other natural disaster. Pandemics are worse and comparatively very bad and threatening to the life to a natural disaster. 

Since 1970, many countries have come together and has invested in the development of national influenza precaution plans and building a global influenza surveillance and monitoring systems getting ready for future.

Data Analysis 

The early warning systems which they include a set of laboratories which is capable of identifying the reference strain of the epidemic.

The amount of funding that all the countries should invest in all these efforts to prepare and to respond all the pandemic like coronavirus an future is an example of decision making for future pandemics .

There are many other national disaster planning activities which works hard , the amount of funding that they get should be based on the assumptions of the probability of catastrophic outcomes of the future pandemic . 

The amount of funding that the countries should invest in these efforts to prepare and respond to a pandemic is an example of decision making under uncertainty for future. Like other national disaster planning activities, the amount of funding should be based on assumptions of the probability of catastrophic outcomes. 

Although scientists have warned of the sudden major pandemic that will take place , the investment in public health systems and health units is not sufficient to reduce the probability of a major pandemics. 

Although very few people died from SARS(severe acute respiratory syndrome), 

Compared to the pandemics that happened last century, the economic costs were significant and high for every country. 

This should have been prompted the governments to focus more on investing more money on improvising the public health systems and health care units in the poorest countries like under privileged areas , where some factors ranging to increase the probability of a major disease outbreak in the future . 

Despite repeated warnings by over past some time , funding for many development projects like public toilets ,sanitary and etc , particularly in the area of public health and disease prevention and health care units , have been cutoff not majorly but by some by major governments all over .

 What is needed for the current economy

It is the main thing and is that it is significant amount of funding for medical research and far from greater funding for public health in poorest countries (like under privileged area). It is so clear that we need a greater focus on the global economy which should be in the practice of better hygiene in order to maintain and reduce the spread of infectious diseases like corona virus . 

There are simple low cost educational interventions like keeping the hands clean and washing hands regularly , keeping themselves clean and hygiene , for instance it can have a massive impact on transmission of the virus in the future .

As part of a research which was done in the program Centre for Excellence in Population Ageing Research which is located in the Australian National University’s Crawford School of Public Policy. 

There are two main reasons for this kind of approach that they are taking currently ,

First that it is not clear how the disease will spread in the future and how much will it damage the future economy and people .

 One technique is that to assist all the policy makers in the market in planning responses under uncertainty is the scenario analysis which is done by policy makers during the pandemics period . 

All the Scenarios which is happening currently makes the policymakers to understand potential outcomes of the policies for the future under different assumptions which they took that is uncertainty to be explored as the time it goes. 

All the seven scenarios which they took during the research was shared with the policy makers around the globe before the took it publicly . The next goal for the policy makers which they took was to demonstrate to learn how costly will a pandemic could be in the future , and therefore 

How much a governments should be and should not be spending to respond to the current outbreak and future outbreak,

How much over the time they should be spending to minimise on the probability of the major future pandemics which may happen and which is happening .

 We understood that publishing this research which they were doing , the results might be sensationalised, but good and best public policy requires transparent information from the policy makers based on rigorous and past research , well-documented methods and etc.