Analyse the economic situation in greece

Assignment Help Macroeconomics
Reference no: EM13866682 , Length:

You are asked to analyse the economic situation in Greece since the financial crisis, the effects the austerity measures have had and may have on the economy, and provide a recommendation to future policy makers.

Alternatively, as discussed in class, you are free to evaluate the austerity programme of another country of your choice, following the same structure as below.

Task details and marking grid

1. By way of introduction, provide a short overview of the Slovenianausterity programme, and the justification that was given for it.

2. Shortly describe, using diagrams, equations and text, the equilibrium level of national income in the Keynesian Cross, the IS/LM model and the AD/AS model.

3. Shortly describe, with reference to the Keynesian Cross, the multiplier effect and automatic stabilisers.

4. Making extensive use of academic literature, explain

• how the size of the multiplier effect could be determined by factors both in the goods and the financial market.

• how the size of the multiplier effect could differ across fiscal measures, i.e. different tax- or spending measures.

5. Using above descriptions and explanations, discuss the effects of austerity programmes on public debt, economic growth and unemployment.

• Take into account that governments are faced with high debt levels and low growth at the same time.

• Form a view on the short- and the long run.

• Use theoretical and empirical academic and reputable business literature as sources to form a view and form your argument.

6. Conclude: Was it advisable for Slovenia to conduct a policy of austerity measures during times of slow growth, should it have delayed its austerity measures, or should it have turned to stimulation (i.e. expenditure) policies?

• The conclusion must be clearly your own.

• Your conclusion must be based on above discussion.

• Take into account the short run and the long run, and all stakeholders in the economy.

7. Acknowledge all your sources fully and according to Harvard style.

8. Write a coherent academic report. Format your report appropriately and professionally with a title page, contents, page numbers, and clear tables and diagrams with titles, numbers and sources.

Format requirements:

- Write a coherent academic report; do not answer question by question.
- As the homework is to be submitted electronically all diagrams need to be created electronically, too.
- All figures and tables must be fully labelled, numberedand have a title.
- Please use MS Word's Equation editor to create equations.
- Have a title page and a contents page, and separate lists of tables and figures.
- All sources must be acknowledged according to Harvard style. The references in this text and the reference list below follow this style.
- Do not forget page numbers.

Verified Expert

Reference no: EM13866682

Why the firm is on the verge of bankruptcy

An industry has five firms, each with a market share of 20 percent. There is no foreign competition, entry into the industry is difficult, and no firm is on the verge of ban

Level of employment

Suppose the firm's labor demand curve is given by: w = 20 - 0.01E, where w is the hourly wage and E is the level of employment. Suppose also that the union's utility function

How do you decide to invest in the project

Based on the existing data of the field you believe there is a 15% chance that if you drilled immediately you would find a commercial discovery. You also have the option of

How rapidly did US real gdp per person grow

The U.S. real GDP per person grew rapidly in the early 1960s. The table above has U.S. real GDP and population for 1961 and 1962. Between 1961 and 1962, how rapidly did U.S.

Various elements of oop programming

A lab that combines various elements of OOP programming through the use of several different methods. I have already created code for this lab that seems right for the most

How each indicator above measures performance of economy

Define and explain how each indicator above measures performance of the economy. Research and explain Government's measures adopted to achieve the production output performanc

Without cost over the allocation of resources

What do we call the proposition that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own?

Evaluate view that effects of economic growth are negative

"China's economic growth slowed to 6.9% in the third quarter of 2015, the weakest rate since the global financial crisis. Evaluate the view that the effects of lower economic


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd