Module Code: XSSECO4012
Module Title: PRINCIPLES AND APPLICATIONS OF MACROECONOMICS
The Essay: Choose one of the following topics and write down 3000 words essay. Pass mark 40%
Outline and Explain, with examples, how Governments use Macroeconomic policy to increase Economic welfare. How successful have UK Governments been in the last 10 years and what challenges still remain?
Select two key Government Policy objectives and explain how either Fiscal Policy or Monetary Policy can be used to achieve these and what other factors influence the chances of success.
Evaluate the success of Government macroeconomic Policies to achieve both lower levels of Unemployment and lower rates of Inflation over the last 10 years.
During the last couple years, the standards of living in the UK have been changed due to the pandemic, both the aggregate supply and demand has been shocked by the Covid-19 and vaccination programs.
To help you choose:
A government can use one, all, or a combination of policies to accomplish their macroeconomic goals, i.e. sustainable growth, stable prices and stable employment.
Your analysis must focus primarily on the macroeconomic effects of the policy/policies you have chosen, with an outline of the economic theory underpinning these polices and only a marginal focus on their social, political, or environmental effects.
You should illustrate your arguments with relevant and recent economic data, and where applicable, to compare and contrast policy alternatives. Choosing the U.K., the U.S., or a Western European economy ensures higher availability of data.
You are recommended to follow the below structure based on that you will be assessed;
Introduction – outline your ‘plan of attack’ and explain key concepts and definitions. (+/- 300 words)
An explanation and analysis of the policies and theories relevant to your title
Current or historic relevant data, including charts and diagrams where appropriate
A full explanation of how the policies and theories can be applied and their expected effects
Conclusion – where you draw together your analysis and produce a balanced, evaluated conclusion (+/- 400 words)
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