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You should conduct an online research on the economic impact of Coronavirus in the US and at global level as well and answer the following questions:

1) What is the economic impact of coronavirus in the US? What are the main economic measures implemented by the government and policymakers?

2) Using of the sociological theories explain how the coronavirus has affected the global economy. What types of economic policy responses have been implemented? Give examples based on at least five different countries.

2 pages minimum

SOCIOLOGICAL THEORIES:

II. SOCIOLOGICAL THEORIES OF WORK AND THE ECONOMY

A. Structural-Functionalist Perspective
1. The economic institution is one of the most important social institutions.
a. It provides basic necessities, including food, clothing, and shelter; by providing basic survival needs it contributes to social stability

2. The economic institution may be dysfunctional when it fails to provide members with needed goods and services, when distribution is grossly unequal, and when production, distribution and consumption of goods and services depletes and pollutes the environment.

3. The structural-functionalist perspective is also concerned with how changes in one aspect of society affect other aspects.
a. For example, when unemployment rises, college enrollment increases, crime increases, and tax revenues decrease, which hurts the government’s ability to pay for services (e.g., education, police, etc.).

B. Conflict Perspective
1. The ruling class controls the economic system for its own benefit and exploits and oppresses the working masses.

2. The conflict perspective is critical of ways government caters to the interests of big business at the expense of workers, consumers, and the public interest.
a. This system of government that serves the interests of corporations—known as
corporatocracy—involves ties between government and business.
b. Corporate interests find their way into politics through lobbying and donations.
c. The pervasive influence of corporate power in government exists not only in the United States but also throughout the world.

C. Symbolic-Interactionist Perspective
1. The work role is a central part of a person’s identity.
a. One of the first questions we usually ask new acquaintances is “What do you do?” The answer largely defines for us who that person is.
b. For many, occupation represents a “master status”—the most significant status in a person’s social identity.

2. Symbolic interactionism emphasizes that attitudes and behavior are influenced by interaction with others.
a. Employers and managers use interaction techniques that elicit attitudes and behaviors they want from their employees.
b. Union organizers are concerned with using interpersonal interaction techniques that persuade workers to unionize.
c. Parents teach children important lessons about work and unemployment.