In these instructions I use “graphs” to mean time series plots of macro data. For example, a graph of real GDP has real GDP on the y-axis and time on the x-axis.
I will use diagrams to mean illustrations of models we have used in the class. For example, AD/AS can be represented in a diagram, equilibrium in the money market can be represented in a diagram. The PPF is a diagram.
The Assignment
For an economy of your choosing (NOT the US). Write about the following:
I EXPECT AT LEAST THREE DIAGRAMS AND THREE GRAPHS AS PART OF YOUR ASSIGNMENT
ALWAYS USE THE LOCAL CURRENCY DO NOT USE US DOLLARS UNLESS YOU NEED TO COMPARE YOUR COUNTRY WITH ANOTHER AND YOU THINK US DOLLARS ARE AN APPROPRIATE COMMON MEASURE
Most central banks provide very useful accounts about their economy and their monetary policies. Many of their websites are in English in addition to the local language. For example, the Bank of Japan puts out regular “Monthly Report of Recent Economic and Financial Developments.” These are all in English and provide a very comprehensive analysis of their health checks that you can use.
Many central banks have a policy committee, just like the US and you can read their reports for example here
. Central banks use historic data but they also try to look forward so their reports provide a view on the economy’s future health.You will want to look at some quality economic commentary from outside the government or the central bank. The problem with economic commentary is not where to find it but how to choose which of the millions of commentaries to read. For further ideas to answer questions 2 and 3 you might try the Economist, the Financial Times or the Wall Street Journal.
Remember to reference the notes on plagiarism and general instructions about assignments in the syllabus.
UP TO 20 MARKS. UP TO 5 FOR EACH OF THE 4 HEALTH VARIABLES. MUST REFERENCE AND DISCUSS/DESCRIBE DATA AND PROVIDE A GRAPH OR THE NUMBERS FOR THE FULL 5 MARKS
UP TO 20 MARKS. UP TO 10 FOR EACH POLICY DISCUSSION. FOR FULL MARKS AT LEAST ONE DIAGRAM ILLUSTRATING THE ARGUMENT IS NEEDED MINIMUM THREE DIAGRAMS IN TOTAL
UP TO 20 MARKS. UP TO 10 FOR EACH INITIATIVE DISCUSSED AT LEAST ONE DIAGRAM OR DATA SET FOR THE FULL 10 MARKS
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