WOLAITA SODO UNIVERSITY

COLLEGE OF BUSINESS AND ECONOMICS

DEPARTMENT OF ECONOMICS
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THE ANALYSIS OF THE FACTORS THAT AFFECT the documents.

LEVEL OF PRIVATE INVESTMENT IN WOLAITA Comment [m2]: Cover page style

TITLE
ZONE
A PROPOSAL RESEARCH PAPER SUBMITED TO THE CANDIDATE’S NAME

DEPARTMENT OF ECONOMICS IN PARTIAL FULLFILMENT

OF THE REQUERMENT FOR B.A DEGREE IN ECONOMICS
NAME OF ADVISOR (S) (QUALIFICATION
OF ADVISOR/S)

BY: BONSA BAISA………..SS/R/127/12

ADVSIOR: BIRHANU GIRMA (MSc) A RESEARCH PROPOSAL SUBMITTED TO

DEPARTMENT OF ECONOMICS, WOLAITA
SODO UNIVERSITY IN PARTIAL
FULFILLMENT OF THE REQUIREMENTS
FOR THE DEGREE OF BACHELOR OF ART
IN ECONOMICS

MARCH, 2023

WOLAITA, ETHIOPIA
WOLAITA SODO, ETHIOPIA
JUNE 2015

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 Comment [m3]: ??????????????

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Abstract
Ethiopia has great potential for private investment sector because of its favorable conditions. Its
land fertility, minerals, forest resources, different climatic conditions, water resources and
human resources are some of the factors that makes Ethiopia desirable for private investment,
despite these resources there are very few private investment activities in the country taking
Wolaita zone as one part of south nation nationalities people of the region there are poor private
investment activities even though the same favorable conditions exit as the general country.

The study intends to identify the major causes for low private investment in Wolaita zone of
South nation nationalities people of the region, and there consequences on the overall economic
development of the zone. For this purpose data will collect from primary and secondary sources. Comment [m4]: Grammer

Primary data will obtain from investment office of Wolaita zone officers and leaders, and people
being engage in different private investment in the zone. Secondary data will take from
investment office of the zone, and different publications. Finally, the result will processes and
analyzes by using different and appropriate statistical tools.

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Contents
Abstract........................................................................................................................... i
Acronyms ...................................................................................................................... iv
CHAPTER ONE ........................................................................................................... 1
1 INTRODUCTION...................................................................................................... 1
1.1Background of the study ......................................................................................... 1
1.2 Statement of the problem ....................................................................................... 2
1.3 Objective of the study ............................................................................................. 3
1.3.1General objective of the study ............................................................................. 3
1.3.2 Specific objective of the study ............................................................................... 3
1.4 Research Question .................................................................................................. 3
1.5 scope of the study .................................................................................................... 4
1.6 Significance of the study ......................................................................................... 4
1.7 Limitation of the study ........................................................................................... 4
1.8 Organization of the study ....................................................................................... 4
CHAPTER TWO .......................................................................................................... 6
LITERATURE REVIEW ............................................................................................ 6
2.1Theoretical literature ............................................................................................... 6
2.2 Empirical literature .............................................................................................. 11
CHAPTER THREE .................................................................................................... 14
3 METHODOLOGY .................................................................................................. 14
3.1 Source of data ........................................................................................................ 14
3.2 Method of data collection ..................................................................................... 14
3.3 Sampling Technique ............................................................................................ 14
3.4 Method of data analysis ........................................................................................ 17
3.5 Time and Cost Budget .......................................................................................... 17
3.5.1.1 Time Break Down ..................................................................................................... 17
3.5.1.2. Budget Breaks Down ............................................................................................... 19
References .................................................................................................................... 20

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iii
Acronyms
GDP Gross Domestic Product

LDC Least Developing Countries

WB World Bank

iv
CHAPTER ONE
1 INTRODUCTION
Comment [m5]: For all second lenel headings
1.1Background of the study 1.The second level headings, i.e. subheadings,
Now a day investment is the main basis for economic growth and development countries in the are numbered consecutively with Arabic
numerals in an outline numbering system (e.g.,
world. Many countries adopt policies which help to the expansion of investment that is taken to 1.1., 1.2., etc. for subheadings of Chapter 1; 2.1.,
2.2., etc. for Chapter 2; etc.).
2.Second level headings are written in bold title
bring changes to the economy and eradicate poverty (World Bank, 2006). case letters, i.e. the first letter of each major word
of the headings is written in upper case letters. All
remaining lower level headings are written in
An investment refers to the purchase of several of goods and services that can be used for sentence case, i.e. only the first letter of the
heading will be in upper case unless required by
productions of other goods. Developed countries have excess capacity to invest. Investment grammatical or nomenclature rules.
3.In this part
whether domestic or foreign is an essential activity for sustainable growth. Investment can Using old citation is not allowed.
 Such review should preferable be of the works
increase the productivity capacity of the economy. Most developed countries are encouraging done in the past 10 years.

private investment in order to run or facilitate their economic growth and employment Comment [m6]: Too old information

opportunities.

Private investment plays a significant role in the world that is increases employment opportunity
raises the level of output increase export to international market, increase the level of per capita
income, and reduce poverty and raise urbanization. In general it fasters economic development in
the world (world book, 1994)

Investment is a crucial variable, which uses to accumulate capital and increases specialization of
market efficiency. In general to the least developed countries regulate a policy that gives a palace
for either private and public investment or foreign investment. However adopting and regulating
policies about investment is not enough. Creating a smooth area of investment and encouraging
and supporting private investors is requires. This is necessary both to raise consumption level
and to permit government of Ethiopia have adoptes various development strategies to encourage
both the individual farmers and commercial investors.

Investment is the main hope of most poor countries as Ethiopia to increase the level of income,
because it is essential to increase the living standard of the people. Currently the federal and
regional governments of Ethiopia devote much of their efforts an accelerating the growth of
investment and diversification, because it is important to increase the level of output and

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employment opportunities. However in Ethiopia the gap between investment and saving are wide
due to low level of income and domestic saving.

Private investment in Ethiopia has great attention because change of different political regimes
with different economic policies. The most significant time relation to investment from imperial
regime of Haileselassie and Derge regime are the participation of private investment will limits
by the state. However, in the context of significance change in fiscal monetary trade and
industrial policies are need for review of the continue public sector in wide range of activities
cues felt (Annual report of the Ethiopian economy, 2000).

A new strategy for encouraging private sectors will adopts when the transitional government of
Ethiopia comes to power in 1991.since 1991 enhance the role of private investment in the
development presses , various policy measures have establishes and revises several times. This
revises investment code with the objective of eliminating, discriminating against the private
investment and creating conductive environment for them.

According to investment office, there is a lot of investment potential in the city such as, mineral,
manufacturing, health, education, tourism etc. part of this strategies the services delivery system
of banks and the government should pay due attention diversifying financial institutions, which
render credit and other related services. This because the institutions play an important role in
enhancing private investment which in turn results in an increase in national income with the
government has been aiming at.

1.2 Statement of the problem

Investment has a paramount importance in the process of bringing rapid economic development
of nation. Most developing countries are going to private investment to run or facilitate their
economic growth. Private investment is one of the main determinants for growth and
development of nation. However, less developed countries are characterized by low level of
saving.

The low level of domestic saving leads to low level of investment. The problem of wide resource
gap in many LDC’s, including Ethiopia; make them depend on foreign saving to finance their
domestic investment. While Ethiopia in endow with sustainably natural and human resources its
economy predominantly agrarian. The rapid growing population of the country contributed very

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less towards the economy by causing excessive pressure on foreland. Agriculture being the bone
of the country economy, contributes the lion’s share of the GDP, employment t and export
earning of the country. However it is vulnerable to frequent drought and natural disasters.
Because of the weak linkage between different sectors of the economy, there has a great
problem in the agricultural sector in providing enough raw materials, machinery and spare parts.

As Wolaita zone is one part of Ethiopia, the problem of private investment activities is the same.
It is tied up with many problem among them, in adequacy of infrastructure, small market size
and low demand is worth to conceder beyond these many physical, social and economic problem
are retiring the private investment no to reach its peak.

The prospect to assign the leading role of the structural change of the country to the private
sector could not be realize in the presence of these constraints. Therefore, this study addresses to
the most influential factor that affect private investment in the zone.

1.3 Objective of the study

1.3.1General objective of the study
The general objective of this study is to analysis the major factors that affect private investment
in the Wolaita Zone

1.3.2 Specific objective of the study

1. To examine the economic and social factors that affects private investment in the
Zone.
2. To assess the general attitude of investors and the government towards private Comment [m7]: How did you assess general
attitude of governmet?
investment activities in the Zone.
3. To give recommendation about the factors.

1.4 Research Question

This study would answer the following question

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 1. What are the major factors that affect private investment in the Zone?
2. What is the general attitude of the people, investors and the government towards private
investment? Comment [m8]: ????????????

1.5 scope of the study

As indicated in the objective, the aim of this study will focused on the main factors that affect
level of private investment in the study area.
In order to identify the variables the survey conducting in the Zone by using questioners. Based
on the investors license, stratifies random sampling technique will employes and 57 investors
selectes from the total population. All private investment activities (agriculture, industry and
service sector) are includes in the study.

1.6 Significance of the study

Private investment is the primary engine to promote any countries economic growth. This study
initiates to explore the factors that affect private investment in the zone. In doing so, I hope that
the study would add knowledge in the area of private investment and it has its own contribution
for future research work. In general, the results of this study may benefit potential researchers,
policy makers, planners redesigning appropriate policies and strategies. The study expects that it
has a benefit to the public in general and potential investors in particular.

1.7 Limitation of the study

Although the study has same significance, it has its own limitation, these are፦

i. Resource limitations, which includes, money and materials.

ii. Shortage of time given for data collection will very short.
iii. Some of the select respondents are not interest to give any full responses.
iv. Health problem of the researcher.

1.8 Organization of the study

The study is organize as follows፦

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in the first chapter there is the introduction part which contain background of the study,
statement of the problem, objective of the study, scope of the study, significance of the study as
well as limitation of the study are present. In chapter two review of literature with it’s theoretical
and empirical parts presentes. In chapter three methodology of the study are also present.

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CHAPTER TWO
LITERATURE REVIEW
2.1Theoretical literature
2.1.1 Definition

For many years investment has raise and be define in different ways by different authors but with
the same concept. The term investment can have more than one meaning. In economics it refers
the purchase of a physical asset such as, a firm’s acquisition of plant, equipment or inventory or
an individual purchase of any home, which are use in the further production of goods and
services. However for a lower the word dents purchase of an asset for storing value and
hopefully increasing that value over time.( Her bert B. Mayo, 1997.pp.6)

Fredrick Ambling and William G.Forms, 1994 also define as, “The purchase of an asset that will
provide income or further capital growth or both.”

Gateman (1997) defines investment as sizable outlays of funds that commit a firm to some
course of action, the firm lies on specific procedures to analyze and select that investment policy.

Investment is the use of money to earn income. The term also refers, to the expenditure of funds
for capital goods such, factors, farm equipment, livestock and machinery capital goods are use to
produce other goods or services (world book encyclopedia, 1994)

Hulbert (1997) has define investment has a fix and initial operating resources use for the
production of goods, the provision of service and the development of science and technology
capability. He also advise investors that when he/she evaluate investment he/she should invest
internally (within its activity)before considering external investment(investing outside its
activity) before starting an investment activity, an investor must know and analyze in what area
he/she is going to invest, the availability of funds he/she has for investment, the economic and
political situation of the country, availability of raw materials for running its activity and fully
he/she must put standard of evaluating the profitability of the investment. The complexity and
difficulties of choice in process of analysis and evaluating investment that ability of manager and
decision maker arise much due to the existence of different kinds of with different
nature(Alexander, 1993) distinguish in to፦

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 1. Real investment generally involves some kinds of tangible asset such as land, machinery,
or factories.
2. Financial investment involves contracts written on pieces of paper, such as common
stock and bonds.

In primitive economics most investment is of the real variety however, in a modern economy,
much investment is a financial variety. Largely the two forms of investment are complementary,
not competitive.

A Keynesian Model of Investment Comment [m9]: All of the narrative in the

research proposals, theses, and research are in 12-
point font size.
The theory of investment behavior goes back to Keynes (1936) general theory he will the first to
call attention to the existence of an independent investment. Decision function in the economy.

He observe that investment depends on the prospective managerial efficiency of capital relative
to some interest rate that is relative of opportunity cost of the invest funds. So that investment
can be increase either by managerial efficiency of capital or by reducing interest rate. He further
pointes the private investment will interracially volatile since any rational assessment of the
return on. Investment will bound to the highly uncertain. The annual sprit of the private investors
will be the main driving force in investment decision, in addition expectation of future demand
for firm output, velocity of investment, uncertainty and another non economic readable i.e.
political, social and economic variables are possible determents of private investment in general.

B Accelerator model of Investment

After Keenness the evaluation of investment will link to simple growth model. This model gives
rise to the accelerator, popular in 1990s and early 1960s and widely use even today in practical
growth exercise. The accelerator growth theory make investment a line or proportion of chance
in output. It extremely simplicity explains its popularity; given all incremental output ratios. It is
easy to compute the investment requirement associate with a given target for output growth.
Perfect completion and exogenously determine output. The theory also disregard dynamic
expectation with regard to further price, interstate and capital cost.

C Neo Classical Investment Theory

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The restrictive assumption behind the accelerator model theory led Jorgenson (1971) and Hail
Jorgenson (1971) to formulate the neoclassical approach. In this approach, the desire capital
stock depends on the level of output and the user cost of capital (which in turn depends on the
price of capital goods, real interest rate and the depreciation rate). This theory indicates the fact
that firm will invest as a rental cost capital falls down but as output in the economy goes up. In
addition, firms will like to have more capital stock when they expect higher level of output. Logs
in decision making and delivery create a gap between the current and desire capital stock, giving
rise loan investment equation. I.e. an equation or the change in capital stock.

The foundation of this approach have are inconsistent; that the assumption of static expectation
about future price output, and interest rate is inappropriate. Since involvement is essentially of
forward looking progress, and that the legs in delivery are introduce in labor manner ( serven &
solimano, 1992)

In economics, there are three types of investment spending; business fixed investment,
residential investment and inventory investment (Mankiw, 1992 pp 463-82)

Comment [m10]: Font size

2.1.2 Types of investment

1 Business fixed investment

Thus include the equipment and stricter that business by to use in production. The largest price
of investment spending, accounting for about three quarters of the total is business fixed
investment. The term business means that thus investment goods are bought by firms for use in
future production. The term fixed means that this spending is for capital that will stay put for a
whole, as oppose to inventory investment, which will be use or sell shortly later. Business fixed
investment includes everything from fix machines to factories, computers to company cars.

The standard model of business fixed investment is called in the neoclassical model of
investment. The neoclassical model examines the benefits and costs of firms owning capital
goods. The mode shows how the level of investment the addition of stock of capital is relate to
the marginal product of capital, the interest rate and the tax rules affecting firms.

2 Residential Investments

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Residential Investment includes the purchase of new housing both by people who plan to live in
themselves and by land lords who plan to rent it to others.

The stock equilibrium and the flow supply

There are two parts to the model first: the market for the existing stock of houses determines the
equilibrium housing price, second, the housing price determinants the flow of residential
investment .This model of residential investment is similar to the theory of business fixed
investment. According to this model of the housing market, residential investment depends on
the relative price of housing. The relative price of housing, in turn, depend on the demand for the
housing, which depend on the imputes rent the individual expect to receive from there housing.
Hence, the relative price of housing plays much the same rule for residential investment as Tobin
s q does for business fixed investment.

Changes in housing demand

When the demand for housing shifts, the equilibrium price of housing changes , and this change
in turn affects residential investment. The demand curve for housing can shift for various
reasons. An economic boom raises national income and the demand for housing. A large increase
in population perhaps of immigration, also raises the demand for housing. One important
determinant of housing demand is real interest rate. Many people takes loans mortgage to buy
their homes. The interest rate is the cost of the loan. A reduction in the interest rate raises
housing demand, housing prices and residential investment.

3. Inventory Investment

Inventory investment the goods that business put aside in storage is at the same time negligible
and the great significance. It is one of the smallest components of spending averaging about one
present of GDP. Yet its remarkable volatility makes it central to the study of economic
fluctuations. In recessions, firms stop replenishing their inventory as goods are sold and
inventory becomes negative. In typical recession, more than have the fall in spending from a
decline inventory investment. Higher output raises the stock of inventories firms to hold,
stimulating inventory investment.

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Reasons for holding inventories

Firms have various motives for holding inventories of goods. Smooth production using them as a
factor of production, avoiding stock outs and storing work in process, one model of inventory
investment that works well without endorsing a particular motive is the accelerator model.
According to this model the stock of inventories depends on the level of GDP and inventory
investment depends on the change in GDP.

Inventories and interest rate

Like other components of investment, inventory investment depends on the real interest rate.
When the real interest rate raises, holding inventories become more costly, so rational firms try
to reduce their stock. Therefore, an increase in real interest rate depresses inventory investment.
Thus the real interest rate measures the opportunity cost of holding inventories.

2.1.3 Determinants of investment

Interest rate

The level of planned investment depends on the market interest rate, because in order to invest
individual must either borrower or uses its own funds( Branson, 1989).

All types of investment spending are inversely related to the real interest rate. Higher interest rate
raises cost of capital to firms that invest in plant and in equipment raises the cost of borrowing to
home buyers and raises the cost of holding inventories( Mankiw, 1992)

National income

This also another measure influence on investment is believe to be the change in national income
.low level of income causes low demand for capital and low level of saving. This too again cause
low level of investment leading to low level of output which inter brings low level of income i.e.
vicious circle low level of income (Claran andPaul,19990)

Financing constraints

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Sometimes faces financing constraints limits on the amount they can raise in financial market.
Financing constraints can prevent from under taking profitable investment. When a firm is
unable to rise funds in financial market, the amount it can spend on new capital goods is limit to
determine their investment based on their current cash flow rather than expected portability (
Mannkiw, 1992)

The stock market and Tobin’s q

Many economics see a link between fluctuations in investment and fluctuations in stock market.
Stock prices tend to be high, when firms have many opportunities for profitable investment,
since these profit opportunity mean higher future income for the households. Thus, stock price
reflect the incentives to invest (Mankiwe, 1992). The Nobel Prize winner economist James Tobin
propose that firms base their investment decisions on the following ratio, which is known called
Tobin’s q.

Tobin reason that net investment should depend on withier of greater or less than one. If q is
greater than one, then the stock market value installed capital at more than its replacement cost.
In this case, managers can raise the market value of their firms stock by buying more capital.
Conversely, if q is less than one the stock market values capital at less than its replacement cost.
In this case, managers will not replace as it wears out.

2.2 Empirical literature Comment [m11]: In this part

Using old citation is not allowed.
A World Bank report (1991) indicate that there is a positive relationship between higher level of  Such review should preferable be of the works
done in the past 10 years.
private investment and higher GDP growth rate for developing countries. This report also should
that countries that have kept low inflation, low interest rate and allow sufficient credit to the

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private sector have likely to high level of private investment as share of GDP. The report adds
that macroeconomic stability increase confidence, there by faster private investment.

Buffy (1986) and Branson (1986) notes that areal depreciation increase the real cost of new
capital goods, relative to domestic goods, depressing investment in non tradable activities. In the
tradable good sector the cost of new capital goods relative to the price of output falls and
investment rises. The result for aggregates investment is uncertain. Preferment and
Madarssay(1993) study the determinants of private investment in developing countries. They
classifies the determinants of private investment in to positive, negative and uncertain factors.
The study should that budget deficit is one of macroeconomic determinants that affect private
investment negatively. This is because when there is budget deficit government try to find
different means of financing the deficit line that borrowing from local banks, international
institutions and monetary expansion. However, each of this form of financing the deficit has
negative effect on private investment when government finances deficit from local banks it will
depress private investment by extracting most financial resources from the source and allocate
towards government budget financing. Hence it will reduce credit availability to the private
investors more over if the government tries to finance the budget deficit by printing money. It
leads to inflation and affect private investment negatively. Along with the above variables extra
indebtedness, volatility of inflation and exchange rate are classifies as certain factors i.e. their
effect cannot be predetermine.

Oshikya (1994) studies macroeconomic determinants of private investment in Africa using a

sample of seven countries to the period 1970-1988. The result tends to confirm that increase in
real output (GDP) growth rate how positive impact on private investment. Particularly, for low
income countries. On the other hand, the effect to the real exchange rate is negative, small and
insignificant in low income countries. The study also shows that inflation rate has a strong
negative impact on private investment in low income countries. In contrast, the impact of
domestic inflation rate on private investment behavior in middle income countries is positive.

The study adds domestic credit availability to the private sector is a major determinant of private
investment for both middle income and lower income countries. However, the effect of change in
terms of trade on private investment for both groups of countries is positive.

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Evgene R, Black (1995) show that there are vitally important advantages to be gain in
developing countries. Above all, in the private sector there is the possibility of calling for the
individual, energies that cannot be effectively gain by public fiat. It is also true that when there
is a variety of initiatives and decentralization of efforts, economic life has breath and stability it
will otherwise lack. Farther more such a situation freedom. The study add that the economical
future of every developing country wishing to maintain a democratic tradition depends on
importantly and often vitality up on the growth of a health and vigorous private sector capital.

Green and Villanueva (1991) examined the effect of various macroeconomic variables on the
private investment activity. The study confirm the restrictive monetary and credit policies
includes in stabilization packages affects investment activities by rising real cost of bank credit
and by raising interest rate they increase the opportunity cost of retained earnings. Both
mechanisms raise the user cost of capital and leads to reduction in investment. In addition, the
study found that the rate of private investment is positively relates to the real GDP growth, the
rate of public investment and negatively relates to real interest rate, domestic inflation, the debt
service ratio and the ratio of debt to GDP. The study under lined the importance of examine the
interaction among investment, saving and growth in general equilibrium model. Akplau (1997)
researches on determinants of private investment in Ghana. He found that in the end private
investment in Ghana on real GDP, real interest rate, public investment and the availability of
credit, positively affect by private investment, while increase public investment has negative
impact on private investment.

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CHAPTER THREE
Comment [m12]: 3. DATA AND
3 METHODOLOGY METHODOLOGY
3.1.Description of the Study Area
3.1 Source of data 3.2.Types and Sources of Data
3.3.Instruments and Methods of Data Collection
The study will use both primary and secondary data for its successfully accomplishment. Primary 3.4.Method of Data Analysis
3.4.1.Descriptive methods
data are information gather by the researcher himself and e are collects for the first time. Hence 3.4.2.Model Specification and Description
3.5.Hypothesis and Definitions of Variables
the study need such information from the selectes investors involve in the zone and from
investment office of the zone. Secondary data is also obtain from personal, public documents and
relate to the case. In general, investors and the investment office of the zone were the main
source of primary and secondary data relatively concerning the private investment activity of the
zone.

3.2 Method of data collection

For this study, sample survey will use to collect the required information. Sample is chosen
because it can save time and money, and it can provide accurate information if it is carefully
select. Regarding to primary data collection method the study use questioner to obtain
information from the investors in the zone that is include in the sample. The form of questioners
develope in both open-end (to get different information from different respondents) and close-
end ( to get uniform answer). Beside, to obtain primary data from investment office of the zone,
the so-called personal interview method of the data collection will employ.

In the second data collection analysis will make in different document of the private investment
sector, besides the various reading of literature related the problem of the sectors.

3.3 Sampling Technique

The study population includes all sectors of investment and employee of investment office of the
zone. Accordingly, the total population of investors currently found in the zone with different
business activity is total to 350 investors. Since investors are different in terms of their
experience. Stratified random sampling technique will use for the selection typical sample out of
the total population of investors. To include investors to the sample size from the sector taken the
sample. In line with these 40 investors from service sector, 10 investors from industrial sector
and 7 investors from agricultural sector are include in sample size, which together sum up to a
total of 57 sample respondents. Comment [m13]: Use sample size
determination formula.It should be representative

14
The sample size determination formula,

Confidence level = 90%

Error = 10%

Z=1.64

N= 350

n= sample size

p= probability of success

q= probability of filler

z= level of confidence

N= total population

E= error

p+q=1

p=0.5

q=0.5

15
n= 56.53

n= 57

Comment [m14]: ??????????????

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3.4 Method of data analysis
After the data will collect properly, the process of editing, classifying, arranging or organizing
the collect data will do. So that it will be suitable for further analysis. After this all has do, the
base for the whole study or research, data analysis will made while is the further transformation
of the process data to one for possible patterns and relations among data groups. To this end
disruptive form of analysis will extensively employ for the matter of easy understanding of
interpretation. The common form of describing the processes data that study has use in tables,
percentages and figures. Comment [m15]: Use econometric method

3.5 Time and Cost Budget

The research work cannot be complete within a day or a week since involves many activities.
Hence, the researcher will be able plan clearly and allocate his time for each activity that will be
undertaken. The work plan design for successful completion of the project within the available
time is limit.

3.5.1 Work Plan

3.5.1.1 Time Break DOwn

No Activities March April May June July

1 Topic Selection X

2 Literature Search X

3 Proposal Writing X

4 Data Collection X

5 Data Analysis X

6 Research Writing X

7 Presentation X

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18
3.5.1.2. Budget Breaks Down
No Item Quantity Duration Unit Price Total Cost
Day

Personal Cost

1. PROPOSAL 1 30 5 150

2. Paper 1ream 500 500

3. Transport 8 10 80

4. Pen 5 20 100

5. Pencil 1 10 10

6. Binder 1 5 5

7. Other/Miscellaneous 100
Cost

Total 17 30 550 945

19
References Comment [m16]: Use referencing style below
No need of bulletings
 Alexander (1993) fundamental of investment second edition new-Jersey
 Annual report of the Ethiopian economy (2000/2001) Comment [m17]:
 Branson (1998), macroeconomics theory and policy third edition Harper and raw Comment [m18]:
publisher, New York Comment [m19]: 1.4.5.Reference listing
 Fredric amling and dorms (1994)” fundamentals of investments third edition Hareourt Books
Single author
Brace collage. Hedrick, P.W. 2000. Genetics of populations. Jones
and Bartlett Pub., New York. pp. 150-212.
 Investment office of Wolaita zone September 2013/2014;an overview of investment in Multiple authors
Hartl, D. L. and Clark, A. G. 19 97. Principles
Wolaita zone. of population Genetics. and Sinauer Assoc.,
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 Comment [m20]: Questionaries?????

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