BELOW IS AN BSc Economics assignment for MACROECONOMIC THEORY MODULE!!
Notes: You should use charts to illustrate your answer. You should use packages such as Paint or MS Powerpoint to generate the graphs. Do refrain from copying and pasting charts from the internet NO COPYING FROM INTERNET !!!!!!!!!!!
Assessment Task
Question 1.
a. Using the IS LM model, explain how an increase in government spending may increase the level of aggregate demand in an economy in the short run. (15 marks).
b. Explain the UK governments plans to invest into the High Speed Line 2 (HS2) in the context of your answer to Question a. (20 marks)
(Maximum word count 700).
Learning Outcome (b) and (c)
Question 2.
a. The Bank of Englands Bank Rate stands currently at a record low. Explain why the rate is at such a low level and the purpose of this policy. (15 marks)
b. Discuss what would happen if the Bank of England decided to return to a higher rate. Describe the effect on output, unemployment and prices in the short and medium run using the AS-AD model. (25 marks)
(Maximum word count 700).
Learning Outcome (a)
Question 3.
Following the German general elections in September, party and power constellations make income tax increases likely. Explain how this policy change affects the AD, AS, IS and LM curves in the medium run. (25 marks).
(Maximum word count 600).
Learning Outcome (b) and (c)
Notes: You should use charts to illustrate your answer. You should use packages such as Paint or MS Powerpoint to generate the graphs. Do refrain from copying and pasting charts from the internet NO COPYING FROM INTERNET !!!!!!!!!!!
Total marks for assignment: 100
Learning Outcomes
a) Analyse and explain aggregate economic behaviour
and the role of money supply in economic stability
b) Apply macroeconomic theory to the analysis of real
world issues such as sustainability and globalisation.
c) Critically appraise the role of government in response to
business
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