In this article, we discuss a new proposed concept of economic engineering that seeks to innovate a new model by combining the theories of Karl Marx and Adam Smith, taking into consideration main economic factors to create a sustainable and inclusive economic system that addresses existing challenges and provides a roadmap for future economic growth. Through a brief analysis of the existing gaps between Marxist and Smithian economics, we developed a new economic matrix that leverages the strengths of both theories while also incorporating the latest insights from modern economic research. Our novel approach to economic engineering represents a fresh perspective on the economy and offers practical tool for addressing the most pressing challenges facing society today.

Using a desktop review of literature, the effect of illegal capital flows on the economic performance of Sub-Saharan Africa is examined. The review focus on articles with attention to illegal capital flows and their effects on the economic performance of Sub-Saharan Africa as a whole. By way of sampling method, purposive sampling was used, and so the desktop review focused purposively on articles published on issues of illicit financial flows and their effects on the economic performance of Ghana and Sub-Saharan Africa as a whole. The review found a high propensity of trade mis-invoicing and thus high illicit financial flows, transactions across boarders from developing countries and for that matter Sub-Saharan Africa to the developed economies. Therefore, the research recommends that customs divisions in sub-Saharan Africa should have up-to-date commodity-level world pricing information to make relatively better comparisons to detect mis-pricing and avoid such falsification and manipulation in trade. Given the high propensity of trade mis-invoicing resulting in high illicit financial flows, we recommend that cross-border transactions from developing sub-Saharan African countries be subjected to heightened scrutiny to curtail any potential traces of falsification in trade for tax evasion.

The paper analyses the extent to which crude oil price shocks impact GDP growth, exchange rate, interest rate and inflation of an emerging oil exporting economy, Ghana. The Structural Vector Autoregressive model is used to analyse the quarterly data from 2009q1 – 2020q4. The results showed that exchange rate and GDP growth respond positively but temporal to the impulse of crude oil price. In contrast, inflation and interest rate respond negatively to crude oil price shock. Specifically, the exchange rate appreciates in the initial quarter and begins to depreciate, whereas GDP growth experiences an increase in the first two quarters and also reduces afterwards. Crude oil price shocks to the Ghanaian economy follow the conventional behaviour of the impact of crude oil on macroeconomic indicators. The positive impact of the price shock on GDP growth and exchange rate is not much reflecting the fact that Ghana is an emerging oil-producing country with low production and export level. Ghana’s prospects in the oil and gas sector should not just be a mere hoax. Policies should be directed toward petroleum exploration and production efforts since the energy transition endanger benefits for future exploitation. Policies should be implemented to attract competitive players locally and internationally in the oil industry. The shock of crude oil prices is beginning to show evidence based on this study. Therefore government must consider recognising the importance of other economic sectors in order not be become heavily dependent on oil.

The number of poor people continues to rise in Africa, despite a slow decline in the poverty rate. Africa with a population of 422 million poor people, representing about 70 per cent of the world's poorest people shows that the global burden of poverty has shifted from the rest of the world to Africa. This paper discussed the causes of poverty on the continent and various responses by stakeholders toward accelerating its poverty reduction. It was found that with the available statistics and projections, Africa will still fall short of eradicating poverty by 2030, but it can bring it to a low level. The study, therefore, recommends that African policymakers should aim for growth that is inclusive and sustainable. International support from the world bank, ODA, G7, and others will play a vital role, especially through technology and resource transfers, also African continent need to improve its resource mobilization.