Task
In groups of 3 or 4, each student must select one country of their choice and analyze two main economic issues facing the country. Members of the group must not choose countries from the same continent, i.e. Europe, Asia, Africa, North and Central America, South America. The two policies must be the same for each of the selected countries.
You must choose any two of the following economic policies for your assignment:
1. Fiscal Policy – includes Government Spending and Tax Revenue (in other words the Government Budget Deficit) as well as National Debt.
2. Monetary policy (includes Inflation, Interest Rates, and Money Supply).
3. Unemployment (includes Youth and Long-Term Unemployment).
4. Industrial Policy (Includes Domestic and Foreign Firms).
5. Trade Policy (Includes Exports and Imports).
Furthermore, you are to analyze the government policies to solve these issues. You should then compare and contrast the countries’ policies. You must include the Aggregate Supply curve and explain the various reasons behind its shape, i.e. Keynesian, Classical and Intermediate.
Learning outcomes:
2. Construct, manipulate and apply simple macro-economic models and outline the principal macroeconomic concepts and models (Linked with PLO 1, 2, 3 & 4: Knowledge Breadth, Knowledge Kind, Know-How and Skill Range and Know-How and Skill Selectivity);
3. Outline, compare and contrast various viewpoints on the formulation and impact of economic policy (Linked with PLOs 1, 2, 3 & 4: Knowledge Breadth, Knowledge Kind, Know-How & Skill Range and Know-How & Skill Selectivity);
5. Gain competencies in apprehending the know-how required to evaluate and analyse different macroeconomic circumstances (Linked with PLO 1, 2, 3, 4, 5 & 8: Knowledge Breadth, Knowledge Kind, Know-How & Skill Range and Know-How & Skill Selectivity, Competence Context, Competence Insight)
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