Page 27 - Campus Chronicles Technical Magazine 2021

Covid-19 and its

impact on World

Economy

By Ms. L. Prasanna Laxmi Reddy,

B. Tech (ECE)- 19UP1A0465

The Covid-19 pandemic is a social and an economic Any economic recovery will likely be uneven,
crisis just as much as it is a health one its leading to greater inequality in the coming years.
repercussions, severe and far-reaching, are being felt • Women have been harder hit economically by the
across the world. pandemic because they are a large proportion of
From school closures to devastated industries and the workers in sectors severely affected by Covid-
millions of jobs lost – the social and economic costs of 19, including accommodation and food services,
the pandemic are many and varied. Covid-19 is and in front-line occupations, such as the health
threatening to widen inequalities everywhere, and social care sectors.
undermine progress on global poverty and clean • With the closures of schools, they have also had to
• Students that are new to online technologies educationists have found it to become the energy, and more. The best solution is to stop this take on more care responsibilities at home.
may find them confusing. In this case, teachers preferred mode of learning in the future. Some of damage from happening, through the use of tests, Whether through job losses or school closures, the
need to make additional efforts to the opportunities brought forward by online treatments and vaccines everywhere they're needed. pandemic threatens to undo decades of progress
communicate deadlines and help students learning in the present pandemic situation include: This will cost only a fraction of the huge economic loss on gender equality.
complete their assignments. • Students can avail learning resources from the pandemic is causing every week. • Covid-19 has been slowing down progress on

• Although online learning doesn't require anywhere in the world The pandemic impacts all aspects of Society: clean energy too, at least temporarily, by curbing
To slow the spread of the virus, schools closed across
advanced technical skills, involved people • Virtual classrooms can impart quality investments and delaying the expansion of clean
need to be comfortable with using a computer education while avoiding the risk of the spread the world. One year into the pandemic, almost half of energy technologies.
the world’s students were affected by school closures.
and accessing the internet. In rural areas, slow of Covid-19, which is of utmost importance in Millions of girls in some countries might not be going • There has been some positive climate news: global
internet connections and missing materials the present back at all, putting them at risk of adolescent energy-related CO2 emissions fell by 5.8% in
can cause frustration. pregnancy, child marriage and violence. 2020, the largest ever decline in global CO2
• Students from rural areas do not need to travel emissions in history. But that’s only a short-term
There is no doubt that every technology and long distances within the country or abroad in • Businesses closed too, leading to the equivalent of effect of lockdowns, not a sustained change. In
advancement comes with some pros, cons, and order to study in a good institution if they can 255 million full-time jobs lost, in terms of working fact, emissions are expected to rise by 4.8% in
has challenges in implementation as well. avail online learning opportunities, thus hours, in 2020. Among the worst hit are workers in 2021, the second highest rate in history, as the
the informal economy, young people and women.
Opportunities: cutting down costs. But, to do the same, they demand for coal, oil and gas rebounds with the
With the number of internet users increasing would require a good network connection as economy.
rapidly in India, online learning can emerge as a well as access to proper educational
potential alternative to traditional education but technology.
only through proper planning and execution by the
government. With the numerous opportunities
available with online education, many

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