Macroeconomics Essay Example | Topics and Well Written Essays - 750 words - 5

Macroeconomics - Essay Example US$1000 per month. Zan gained the required documents and was all set to leave for UAE in a month when his seniors’ opinion on going to UAE for job changed. That was December, 2008 and the global financial crisis had almost just started. His seniors told tragic tales. Many of them had themselves come back to Pakistan. Zan heard from his seniors that the construction companies in UAE were downsizing. Many employees were being fired without prior notification; companies were not following the legal procedure to downsize. The pressure on the regulatory authorities was so tremendous that the fired employees were not getting healthy response from them. The employees who were fortunate enough to survive were to take much greater load than before. As the companies had downsized, the survivors had also been assigned the responsibilities of the fired employees. To make it worse, they had their salaries reduced by a substantial percentage rather than getting them increased in compensation for more work. T he employers obliged them to work at lower salaries; else, they had the option to resign. Zan was very disappointed. He had spent months preparing for going to UAE but all had gone in vain. He decided to continue his job in Pakistan. He had thought before of leaving his company as it had been paying him very less, but now, that the rate of unemployment had gone very high because of the global financial crisis, leaving the company seemed a bad idea. One thing Zan knew for sure was that he needed to continue professional development. Pursing further studies seemed like a good way to achieve that. Therefore, he got admission in Masters course of Construction Management at a local engineering university in Pakistan. A major motivation behind getting admission in this course was to secure a scholarship for higher studies abroad. Since Pakistan is a developing country, where the opportunities of development