Macroeconomic Measures And Policy

Different countries have different economic policies in place. In addition, because of various other factors like geo-political issues, access to capital, public health infrastructure, political system, etc., their macroeconomic indicators and economic growth rates are different. In your final paper, respond to the following questions:

• Report the following macroeconomic indicators for your country: GDP, economic growth rate, public debt, inflation rate (CPI, annual variation in %), policy interest rate, and trade balance.
• Discuss the state of the economy of the country you selected. Make sure to discuss if the country is experiencing a recession or an expansion and if there is inflation or deflation in the economy.
• Discuss the relationship between GDP, inflation, and unemployment as addressed by the AD-AS model and explore if this is the same relationship as explained by the Phillip’s Curve.
• Recommend ONE policy to the central bank of the country, given the state of the economy.
• Recommend ONE policy to the government of the country you selected, given the state of the economy.
• Discuss the possible short-run and long-run implications of using the monetary and fiscal policies you prescribed in the previous questions.
• Discuss the differences in the approach taken by a Classical economist versus a Keynesian economist in solving the macroeconomic issues of the country you selected.

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