Microeconomics Case Study

Biotechnology in Cuba

OR

Abstract:
After the Cuban revolution in 1959, cuba chose science and technology to foster economic develpment. In line with Fidel Castro's vision to provide free health care to his people, apart from developing an intellectual capital that could be finally converted into future tangible monetory benefits through trade and aide, Cuba persuaded biotechnology to etch out a part for itself towards scientific excellence. Though haunted by US' embargo, Cuba was commited to usher in an economic resurrection.

Pedagogical Objective:

• To discuss the role of science and technology in the economic development of Cuba.

Keywords : Production Possibility Frontier, Production Possibility Curve, PPF, Government and Business, Clusters, Technological Change, Process Innovation, Product Innovation, Innovation, Cuba, Fidel Castro, Biotechnology, Biotechnology Industry, Biotechnology Industry in Cuba, Government Intervention, Managerial Economics, Microeconomics, Economics for Business, Business Economics, Economics for Managers, Paul Samuelson