Macroeconomics 1
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Task 1
Writing material for your Policy Brief
1) Fiscal policy and managing government budgets
a) Fiscal policy
b) Saving ratio
c) Fiscal multiplier
d) Overall impact of stimulus package
e) Budget deficit
f) Budget debt
g) Gini index
h) Gini index policy assessment
2) Monetary policy and financial stability
a) Monetary policy
b) RBA monetary policy decision
c) Inflation target
d) Unemployment rate
e) Falling unemployment rate and employment
f) Prudential regulation
3) Innovation policy
a) Motivation for innovation
b) Intellectual property rights
c) Renewable energy innovation – Use diagram on next page
d) Transition to green economy
e) Inequality and diversity in innovation
Illustration of effect of new renewable energy innovation
Use these bullet points to explain the impacts of this new innovation on the economy, with reference to your AD-AS diagram:
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4) International collaboration and globalisation
a) Globalisation
b) International collaboration during the pandemic
c) Australian exports
d) UK economy
Illustration of the economic shock on the UK economy and your recommendation for the Bank of England’s monetary policy response
Use these bullet points to firstly explain the shock being experienced by the UK economy, followed by an explanation of your policy advice to the Bank of England. Be sure to refer to every element on your AD-AS diagram:
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5) Principles of good policy design
Trade-offs
Task 2
Learning from real-world economists
a) Event proposal
b) Biography
c) 3 questions to ask your guest economist
Task 3
Preparing for your future
1) Interview preparation
Teamwork
2) Self-reflection
a) New skills, competencies or insights
1) …
2) …
3) …
b) Tutorial experiences
c) Personal attribute or character trait
Reminder:
Important instruction for all students: This document contains assessable information. You are obligated to treat this document the same as a final exam document. If you share or reproduce this document or any of its contents, you will be liable for a breach of academic integrity.
No part of this document and/or its content is to be shared, copied, distributed, communicated or disseminated to any other persons or organisations, including online platforms, networks or file-sharing systems. Any detection of breaches of this condition will be investigated and academic penalties will be applied.
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