Working individually, conduct research on the economic performance of ONE (1) country over the last ten years, from 2004 to 2013, applying the macroeconomic indicators of real GDP, real GDP growth rate, real GDP per capita , unemployment rate and inflation rate to argue whether you think the performance to be strong or weak.
Discuss the performance of the economy over those ten years and provide evidence and explanations for the economic performance such as a high unemployment rate, high inflation rate and/or steady, long-term economic growth. Where appropriate, you should also explain how the policies of the government aim to achieve full employment, stable price and/or economic growth.
- Provide an overview of the economy chosen
Production Output Performance Analysis
- Real GDP, Real GDP growth rate, Real GDP per capita analysis
- Describe and explain the performance trends
- Research and discuss Government’s measures to achieve the economic performance
Labour Market Analysis
- Describe unemployment trends based on the unemployment rate
- Discuss the types of unemployment
- Research and discuss Government’s measures to achieve full employment
Price Level Analysis
- Describe the price level trend based on the inflation rate
- Discuss the causes of inflation (if any)
- Research and discuss Government’s measures to achieve stable price
- Summary of key highlights of discussion
RELEVANT MODULE LEARNING OUTCOMES ASSESSED:
- Describe and evaluate a range of current economic issues and problems.
- Develop and communicate economic arguments in a variety of forms.
- Evaluate the performance of the national economy.
- Discuss and explain the economic problems of unemployment and inflation.
- Identify and apply fiscal policy to achieve macroeconomic stability.
EMBEDDED SKILLS ASSESSED:
- The ability to conduct research.
- The ability to analyse data and information.