OUTLINE I. A brief description of this country in terms of demographics, language, currency, political system, predominant industries, and current (i.e. last year) economic indicators such as nominal GDP, GDP per capita, unemployment, budget deficit (% of GDP), balance of payments accounts (% of GDP), and inflation.

II. Brief description of the behavior of various economic indicators at the last 20 years

III. Brief description of the behavior of various economic indicators for at the last 20 years

IV. The relationship between the accounts in the balance of payments, average interest rate, and the government budget balance. Is there any relationship among these variables that the economic theory tells us?

1. A brief description of this country in terms of demographics, language, currency, political system, predominant industries, and current (i.e. last year) economic indicators such as nominal GDP, GDP per capita, unemployment, budget deficit (% of GDP), balance of payments accounts (% of GDP), and inflation.
The country has recorded a population of 62.3 million in 2010 up from 52.4 million in 1960. The analysis shows an increase in population growth by about 18% over the last five decades. The world statistics indicates that the UK’s population accounts for 0.9% of the total world’s population. The results show that in every 112 persons living on the planet earth, one of them is a resident of the UK (The trading economics.com n.p).
Politics and employment
Political systems play a significant role in shaping trends in numerous facets of an economy. This is because the formulation and implementation of policies touching on various economic indicators are exclusively vested in the body polity. Although the relationship between unemployment and GDP remains significant, political factors continue to neutralize or weaken this relationship