ABOUT THE CHAPTER: Deciphering economic effects of Covid-19

The novel coronavirus disease (COVID-19) has had significant and diverse impacts on economies worldwide. Despite differences in economic structures, the major effects of COVID-19 on economies are generally similar, though varying in intensity depending on the level of development and climatic conditions in each country. This chapter aims to provide a thorough analysis of the positive and negative effects of COVID-19 on economies using the aggregate supply and aggregate demand (AS-AD) model in contemporary economics. By applying this model, we seek to understand the economic consequences of COVID-19 on a global scale, drawing from theoretical economic literature that explores the workings of market forces as represented by the AS-AD model. Additionally, we will delve into recent empirical studies on COVID-19 to supplement our discussions on its economic effects. Overall, this chapter will illustrate how modern theories related to the AS-AD model can effectively explain the economic ramifications of the COVID-19 pandemic.

Author: Fitzgerald Witika

Year: 2022

Book project working title: Psychosocial, Educational, and Economic Impacts of COVID-19

Editors: Brizeida Hernández-Sánchez, José Carlos Sánchez-García, António Carrizo Moreira and Alcides A. Monteiro

Publisher: IntechOpen

By Fitzgerald Witika

Fitzgerald Witika is a luminary economist, exhibiting extraordinary talent in the realms of research and development. His distinguished portfolio boasts a trailblazing contribution to the landscape of contemporary health economics, wherein he applies the Aggregate Demand and Supply (AD-AS) model with theoretical precision to elucidate the global economic ramifications of the COVID-19 pandemic. Moreover, he is also known as the author of the book titled “Manifest the Genius in You” published in 2019. Subsequently, his contribution to monetary economics is based on the application of the quantity theory of money in explaining the outcomes of adopting Central Bank Digital currencies (CBDCs). Besides that, Fitzgerald Witika has also collaborated with many researchers around the world and contributed as well as edited book chapters in applied econometrics. Fitzgerald Witika is a consummate research consultant, whose prodigious acumen spans across a diverse spectrum of disciplines, including business research, economics research, econometric analysis, natural scientific research, academic research, and data analysis with SPSS, EVIEWS, STATA, R-software and EXCEL. His multifaceted expertise is honed by his extensive experience in providing consultancy services to both individuals and organizations, spanning a broad range of industries and sectors. With a refined skill set that blends academic and practical expertise, Fitzgerald is recognized for his ability to deliver bespoke consultancy solutions that are tailored to the unique needs of his clients. As a seasoned writer, researcher, econometrician, data scientist, and research consultant, Fitzgerald Witika has garnered extensive experience spanning numerous disciplines, particularly in economics, business, engineering, and other natural and scientific fields. With an impressive portfolio of over 150 research projects, Fitzgerald’s track record speaks to his exceptional ability to navigate complex research problems with ease and deliver cutting-edge solutions. As an econometrician, Fitzgerald has a comprehensive understanding of the mathematical and statistical models that underpin economic analysis, enabling him to leverage advanced techniques to analyze complex datasets and extract meaningful insights. His mastery of econometric tools such as regression analysis, panel data analysis, time series analysis, and forecasting has earned him a reputation as a leading expert in the field. | Economist | Author | Econometrician| Web Developer | Researcher |

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