Hello, dear friend, you can consult us at any time if you have any questions, add WeChat: daixieit

Macroeconomics 1

ECON1010

Semester 1, 2022

Assignment 3

Task 1

Writing material for your Policy Brief

1) Fiscal policy and managing government budgets

a) Fiscal policy

b) Saving ratio

c) Fiscal multiplier

d) Overall impact of stimulus package

e) Budget deficit

f) Budget debt

g) Gini index

h) Gini index policy assessment


2) Monetary policy and financial stability

a) Monetary policy

b) RBA monetary policy decision

c) Inflation target

d) Unemployment rate

e) Falling unemployment rate and employment

f) Prudential regulation



3) Innovation policy

a) Motivation for innovation

b) Intellectual property rights

c) Renewable energy innovation – Use diagram on next page

d) Transition to green economy

e) Inequality and diversity in innovation

Illustration of effect of new renewable energy innovation  


 

 

Use these bullet points to explain the impacts of this new innovation on the economy, with reference to your AD-AS diagram:

• …

• …

• …

• …

• …

• …

 

4) International collaboration and globalisation

a) Globalisation

b) International collaboration during the pandemic

c) Australian exports

d) UK economy

 

Illustration of the economic shock on the UK economy and your recommendation for the Bank of England’s monetary policy response

 


 



Use these bullet points to firstly explain the shock being experienced by the UK economy, followed by an explanation of your policy advice to the Bank of England. Be sure to refer to every element on your AD-AS diagram:

• …

• …

• …

• …

• …


5) Principles of good policy design

Trade-offs

 

Task 2  

Learning from real-world economists

a) Event proposal

b) Biography

c) 3 questions to ask your guest economist


Task 3

Preparing for your future

1) Interview preparation

Teamwork

 

2) Self-reflection

a) New skills, competencies or insights

1) …

2) …

3) …

b) Tutorial experiences

c) Personal attribute or character trait