United States of America

The economic history of the United States began in the 17th and 18th centuries with American settlements. The American colonies went from slightly successful colonial economies to a small, independent farming economy, which in 1776 became the United States of America.

The United States of America also known as America, U.S., U.S.A. is a constitutional federal republic country of 50 states covering a vast stretch of North America, with Alaska in the northwest and Hawaii extending the nation’s presence into the Pacific Ocean and the Caribbean Sea. Major Atlantic Coast cities are New York, a global finance and culture center, and capital Washington, DC. Chicago is known for influential architecture and on the west coast, Los Angeles’ Hollywood is famed for filmmaking. The 50 states cover nine time zones and one can find extremely diverse geography, wildlife and climate there

Daylight Saving Time is a widely used system in the U.S. that adjusts the official local time forward one hour during spring and summer months. Clocks are moved ahead one hour on the second Sunday in March at 2 a.m. (local time). Clocks are moved back one hour on the first Sunday in November at 2 a.m. (local time).
The 45th and current President of the United States is Donald J. Trump. He was under oath on January 20, 2017. The current First Lady of the United States is Melania Trump.

GEOGRAPHICAL LOCATION

U.S.A lies between latitudes 38°N, and longitudes 97° W. It is the world’s third largest nation by land area ranking behind Russia and China and just ahead of Canada. The country was also ranked 3rd in terms of population in 2017 up to 0.33 billion. Alaska is the largest state at 663,268 square miles (1,717,856.2 km2) and Rhode Island is the smallest state which covers an area of 1,214 square miles (3,144 km2). Among the 50 states, California is the most populated state with approximately 38 million inhabitants and

Wyoming is least populated with almost 65 times less than California’s population. Washington D.C. is the capital city and imposes neoclassical monuments and buildings – including the iconic ones that house the federal government’s 3 branches: the Capitol, White House and Supreme Court. It’s also home to iconic museums and performing-arts venues such as the Kennedy Center.

CLIMATE

The states are blessed with all four seasons i.e. spring (March – June), summer (June -September), fall (September – December), and winter (December – March). To the east of the 100th meridian, the climate ranges from humid continental in the north to humid subtropical in the south.

The Great Plains west of the 100th meridian are semi-arid. Much of the Western mountains have an alpine climate. The climate is arid in the Great Basin, desert in the Southwest, Mediterranean in coastal California, and oceanic in coastal Oregon and Washington and southern Alaska. Hawaii and the southern tip of Florida are tropical, as are the populated territories in the Caribbean and the Pacific.

Extreme weather is not uncommon—the states bordering the Gulf of Mexico are prone to hurricanes, and most of the world’s tornadoes occur within the country, mainly in Tornado Alley areas in the Midwest and South.

LANGUAGE
The most common language in the United States is known as American English. However, no official language exists at the federal level. More than 300 languages are spoken or signed by the population. Some individual states list English as their official language.
According to the Census Bureau survey, the main languages spoken in the United States are English (80%), Spanish (12.4%), other Indo-European (3.7%), Asian and Pacific Island languages (3.0%), and other languages (0.9%).
CURRENCY
U.S.A.’s official currency is the American dollar ($). Frequently used coins are 1¢ (Penny), 5¢ (Nickel), 10¢ (dime), and 25¢ (quarter). Rarely used coins are 50¢ (half dollar) and 1¢ (dollar). Likewise, the most common paper bills are $1, $5, $10, $20, and $100. And, the least common are $2 and $50 notes.
ECONOMY
The United States is the world's largest national economy in nominal terms and second largest according to purchasing power parity (PPP), representing 22% of nominal global GDP and 17% of gross world product (GWP). The US has abundant natural resources, a well-developed infrastructure, and high productivity.
The U.S. is the world's third largest producer of oil and natural gas and one of the largest trading nations in the world. The US not only has the largest internal market for goods, but also dominates the trade in services. Of the world's 500 largest companies, 128 are headquartered in the US.

ECONOMY DATA

The United States has one of the world’s largest and most influential financial markets. The New York Stock Exchange is by far the world’s largest stock exchange by market capitalization.

The labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world.

The US economy went through an economic downturn following the financial crisis during 2007–2008, with output as late as 2013 still below potential according to the Congressional Budget Office. The economy, however, began to recover in the second half of 2009 and gradually getting better.

Americans collectively possess 41.6% of the world’s total wealth, and Americans make up roughly half of the world’s population of millionaires.

2011
2012
2013
2014
2015
Population (million)312314317319321
GDP per capita (USD)49,72551,38452,60854,37555,868
Economic Growth (GDP, annual variation in %)1.62.21.52.42.4
Unemployment Rate8.98.17.46.25.3
Inflation Rate (CPI, annual variation in %)3.12.11.51.60.1
Inflation (PPI, annual variation in %)3.91.81.41.6-0.9

ETHNICITY AND IMMIGRATION

The states have embraced multiple ethnicity and races. According to 2017 Kaiser Family Foundation, there are larger number of White people (61%) followed by the Hispanics (18%).

The Hispanics are closely followed by Blacks with 12% and Asians are twice as less as black. There are 2% with two or more races and as slightly as 1% of American Indian/Alaska natives. The U.S. immigrant population stood at more than 43.3 million of the total U.S. population of 321.4 million in 2015, according to American Community Survey (ACS) data.

India was the leading country of origin for recent immigrants, with 179,800 arriving in 2015, followed by 143,200 from China, 139,400 from Mexico, 47,500 from the Philippines, and 46,800 from Canada. In 2013, India and China overtook Mexico as the top origin countries for recent arrivals.

HIGHER EDUCATION IN USA

Higher Education System

American public education is operated by state and local governments, regulated by the United States Department of Education through restrictions on federal grants. The majority of the world’s top universities listed by different ranking organizations are in the U.S. There are also local community colleges with generally more open admission policies, shorter academic programs, and lower tuition. As of 2013, the number of higher education institutions established in the United States is 4,726. This includes both two-year and four-year institutions, as well as for-profit and non-profit schools. The United States has one of the world’s finest university systems, with outstanding programs in virtually all fields. At the undergraduate level, excellent programs exist in traditional disciplines, as well as in professional fields. At the graduate level, students have the opportunity to work directly with some of the finest minds in their field of study, with the chance to become involved with exclusive research and educational opportunities.

International Recognition

U.S. degrees are recognized throughout the world for their excellence. The U.S. universities are ranked in the top among other universities across the globe. According to the 2016-2017 world ranking, the states’ California Institute of Technology is ranked second (out of 800+ universities across the sphere) followed by Stanford University in third.

Safety

The United States ranked 88/158 on the Global Peace index for 2012. Although USA is a safe place to live in, you should still take precautions to protect yourself and your family, and be aware of your surroundings at all times, especially if you are living in a big city. White collar crimes, such as internet frauds and scams, however, are on the rise. Be cautious of anyone asking for money in advance, for example for a work-at-home job.

U.S.A for International Students

U.S.A is also known as the “Land of Opportunity”. The excellent teaching environment and experience in an international setting is a positive advantage as many employers are looking for the wide range of knowledge, adaptability and experience that international students acquire by studying in the United States. They often seek to hire employees who not only have multi-cultural language skills, but those who can also help communicate, negotiate and conduct business across different cultures. In addition, it offers land and cityscapes along with forests and grand views of the sea that make America such a stunningly beautiful country. It has some natural wonders that need to be experienced with fantastic views.

Accommodation

There are a number of options when it comes to deciding where you will live when you are living and studying in the United States. These options include:

On-Campus Dormitories: Often with two or three people (of the same gender) per room and residents typically share large bathrooms which include showers and toilets. On-campus accommodations also offer close proximity to the campus classrooms, cafeteria and other eating establishments.

Off-Campus Apartments: An off-campus housing office will assist you in finding an appropriate place to live. Often, the office coordinates activities to help students find a compatible roommate to share expenses; they also provide information about the local neighborhoods, including popular restaurants, shopping areas, parks and recreation, and public transportation.

Ask new friends and other students if they have any suggestions for a good apartment. Check classified advertisements in the local newspaper or contact the Real Estate Agents.

Homestays: Homestays are a viable option for students under the age of 18, especially those who are nervous about leaving home and living in a new country. In a homestay arrangement, you will be placed with an American family within 20 to 45 minutes from your campus. You will have your own room, and meals will be provided.

AFTER GRADUATION

It is possible for international students to work in the United States as a non-U.S. citizen. There are several types of visas and work permits issued by the U.S. Government. A breakdown of the different types of visas available to international students can be found on Office of International Programs’ (OIP’s) website.

J-1 Scholar Options:
http://internationalservices.georgetown.edu/arrival/prearrivalguides/j1scholars/

F-1 Student Options:
On Campus Employment
http://internationalservices.georgetown.edu/students/f-1/employment/oncampus/

Off Campus Employment (CPT, OPT and International Organizations) http://internationalservices.georgetown.edu/students/f-1/employment/offcampus/

Working in the U.S. after graduation

International students have a few options that allow them to continue working in their positions after graduation. The most common temporary worker visa is the H1-B visa. More information on these options can be found here on OIP’s website: http://oip.georgetown.edu/isss/working.htm

For further details you can either visit us or contact us by phone, email, Skype, twitter, Facebook or through our website and lively talk to our professional counsellors.

We look forward to assisting you in the near future.

EDUCATION TEAM – OZ CONSULTANCY

Australian Education, Migration and Business Consultants