You are working as an analyst for an organisation, you have been tasked to provide a 1000+/- 25% words report in total about two economics policy in the country. You have to answer both policies. If you use any source please cite it. Please label your diagrams and graphs.
The government aims to encourage immigrant entrepreneurs who are willing to set up business in the country rather than become employees. Explain how you expect this to affect the wage-setting curve, the price-setting curve, and the labour market equilibrium [ Please label properly all diagrams]. (50 marks)
Policy Two:
In the general election of 2019, one of the main political parties in the UK announced to build 100,000 houses a year if they were elected. What would be the impact of this policy on the economy? In your report, you have to respond to the following criteria and make sure you adequately explain the transmission mechanisms and support your argument with diagrams [ Please label properly all diagrams]. (50 Marks)
a)What happens when there is a positive shock to aggregate demand from a boom in the construction of new housing?
b)Please show the impact on employment using the labour market model, what happens to the Philips curve and to inflation?
c)What would you expect the central bank to do?
These criteria are related to theories and model we discussed during the lectures. For more information, its recommendable to read the core textbook online.
Note: Please use following font type Times New Roman or Arial Font size 12 pt. and single spaced for main text.
Learning Outcomes
Learning outcomes from this assessment component:
Understand major issues of modern macroeconomics, both theory and policy.
Be able to apply the macroeconomics models to the analysis of contemporary macroeconomic problems.
Explain the problems facing by policymakers in using macroeconomic policies.
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