How Students and Educational Institutions are Supporting the Economy During the COVID-19 Pandemic

One of the biggest secondary effects caused by the virus, after the loss of life, of course, is a significant impact on the economy. While developing countries have faced huge losses, leading countries like the USA and the UK are not left unaffected either.

The Economic Impact of the Virus

While the whole world went into a lockdown, people belonging to the working class were losing jobs right, left, and center. As a result of this, unemployment rates skyrocketed around the world. Based on a report published by the BBC, the unemployment rate in the USA as of June went up to a whopping 10.4% as opposed to 3.4% in the previous year. In the UK, this number jumped to 4.8% as compared to 3.8% before.

People running small businesses were some of the most badly affected since they usually rely on short-term incomes to manage their day to day expenses. The travel industry essentially shut down for a long time, adding to the rising losses in economies that relied on traveling. While the main focus regarding COVID-19 was always the safety of life, governments quickly realized how bad their economic situation was getting.

Citizens and Institutes Making Efforts

As the economic support system for many countries was failing, many people and institutes from around the world started to help. Institutions like banks, NGOs, and large corporations provided significant financial support, and people themselves started to volunteer as healthcare professionals, emergency managers, child protection specialists, and more.

A large part to help develop strong systems to fight COVID-19 was also played by universities and students who not only developed ideas and programs to help research about the virus in the company of their professors but also took part in writing papers about their research. Whether they wrote an essay themselves or used an essay writing company in London or New York, their research paper made an impact. It not only created awareness about the virus and its effects but also helped medical staff improve their response to the pandemic in many different ways.

How Students and Universities Are Helping

A college or a university has a lot of resources at its disposal when it comes to helping fight a pandemic like this. The following are just some examples of how students and educational institutions have helped support the economy during these troubling times:

• Universities in both the USA and the UK, including MIT, University of Nebraska, Imperial College London, University of Glasgow, and many others have launched various research programs to help understand the virus and provide the necessary response. Many such projects are done on a charity basis by students and professors like to help play their part in the response.
• Universities such as NYU and BU are allowing certain medical students to graduate early so that they can help medical staff as quickly as they can.
• Many universities are also using their own facilities to provide beds for quarantine, design and develop 3D-printed masks for healthcare workers, running blood donation centers, and providing virus testing services.

Conclusion

To help support the economy and to control the rising losses of life, students around the world have stepped up. Writers have written research papers with authentic, plagiarism-free information about the virus. Research students have dedicated their time to studying the virus and its impact on the economy to find solutions. And universities have allowed the use of their facilities to produce the necessary equipment or provide the needed services to keep people safe. The input of students and educational institutes in the fight against the pandemic has been absolutely crucial and will remain so in order to support the world economy in the months to come.