using of the macroeconomic theory to provide a critical analysis of the impact of the crisis and the policy response from the government and the central bank on the economy of your chosen country
Consider the impact of the Global Financial Crisis on a member of the OECD. You are required to make use of the macroeconomic theory to provide a critical analysis of the impact of the crisis and the policy response from the government and the central bank on the economy of your chosen country. Further details will be provided in class. For reasons that will be discussed in class, you may not choose New Zealand or any member of the Euro zone.
Detailed Instructions:
1. Introduction
Introduce your chosen country. Describe the elements of the country that are relevant to your essay. A good starting place would be the state of the economy before the crisis.
2. Data
Present the data that are relevant to your analysis. This section and the Analysis section can be done as one section in the final submission. Some of the marks are for choosing appropriate data; some of the marks are for clear presentation of the data.
3. Analysis
How you structure the analysis is up to you. A suggested approach is to:
i. Describe the policy response by the government and central bank.
ii. Using theory from the paper, explain what you expect to occur as a result of the policy response.
iii. Compare your expectations to what actually happened.
4. Conclusion