The paper 'Technology and Economic Change' is a great example of a Macro and Microeconomics Assignment. The case study conducted by OECD brings to light several significances of technology, particularly in production, distribution, and education. According to the case study, technology is a critical driver of economic development and long-term growth. OECD identified one of the benefits of technology as the increase in the productive capacity of resources as well as the possibility of developing innovative products and processes. A country that is not able to keep up with technological progression will ultimately lag behind in matters of economic development.
Considering a country like Kenya, the national government is fast-tracking a policy on laptops for all primary school kids. This is in recognition of the fact that technology will become a way of life in the near future. In the same education sector, several policy frameworks have realized this need and have structured their strategies in recognition of the critical role of new technologies. The long-run effect is the holistic change in the way the Kenyan economy operates. The Adelaide Declaration of 1999 appreciates that the future will be shaped by information communication technology.
The declaration holds the view that students should be ready to use new technologies. In response to this proposition, the government has gone ahead to support education through technology while reducing barriers. Rwanda is already running a laptop project that has seen children learn through technology. Countries are therefore moving with speed to avert the possibility of being left behind. Economic agents are also reorganizing themselves to handle technological change. As a key element for economic development and long-term growth, the introduction of new technology in a firm is capable of improving productivity.
A case in support of the OECD assertion about the importance of technology in increasing productivity is Qantas Airline. It is in the interest of Qantas Airlines to improve constantly its technology, in the same manner, other firms in the industry are doing. Advancement in technology has been replicated in numerous facets of Qantas airline. The engineering department for example has shown dedication to the development of technology with a goal of augmenting products, processes, and systems (Qantas 2012).
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