International Macroeconomic Policy (UK, US and Japan)

International Macroeconomic Policy (UK, US and Japan)

Subject:

Economics

Order Description
The assessment for this module consists of one part.

In a format of your own choice, but with a word limit of 4000 words, answer all the following questions:

1-Using closed economy models show how alternative macroeconomic theories may lead to the recommendations of different economic policies. Refer your reasoning to the current economic crisis in the euro area.
(Learning Outcome: Evaluate the contribution of macroeconomic theory to policy Making)
MARK: 30% (about 1.200 words)

2-Using appropriate macroeconomic models discuss the effects that a government austerity policy may have on Government Debt over GDP ratio, both in the short and long run.
3-Discuss and compare the economic impact and the rationale behind the monetary policies adopted in the last years by the Bank of England with those adopted by the Federal Reserve in the US, the Bank of Japan and by the European Central Bank.
(Learning Outcome: Reflect on the nature of international economic crises in the UK, US and Japan and evaluate the macroeconomic policy responses used in these countries)
NOTES:
– In all three tasks you should try to relate macroeconomic theory to the situations you are describing, using, where appropriate, diagrams and figures to back up your arguments.
– Note that presentational and referencing skills will be taken into account in the mark scheme.