Urgent
Assignment Titles for Semester Two
Your semester two written assignment will be an essay selected from the three macro questions below and must comply with the general instructions for the submission of assignments. It must be submitted on the date as stated in the course calendar. Failure to comply with this instruction may result in a grade of zero.
Your essay should be around 1500 words in length (excluding bibliography, tables and diagrams). Please note that your assignment will be down-graded for excessive quoting, the absence of a bibliography, and unreasonable length. You should use macro economic analysis when addressing these questions. NB this is not group work. If your work looks like someone else’s, we WILL SUSPECT plagiarism which, if found to be the case, may result in a failure of the YEAR.
1a Define economic well-being, Net National Income and Gross Domestic Product
1b How well does Gross Domestic Product measure economic well-being?
Financial Update 18/19 National Income Accounting
BBC 24 7 18 Millions of families worse off than 15 years ago
FT 3 7 18 Family living costs outpace income
FT.com Apr 07 2014 18:51 Moving from GDP to economic well-being
FT.com July 4, 2014 11:58 am Has GDP outgrown its use? By David Pilling
FT.com July 10, 2015 4:11 pm Who’s responsible for our happiness?
This question ask whether the standard measures of output provide a good guide to a quality of life
2 Assess the contention that the Phillips Curve provides a useful description of the inflation-unemployment relationship in the UK.
Financial Update 18/19 Unemployment, Inflation
Reuters JULY 17, 2018 / UK pay growth slows to six-month low despite record employment
BBC 6/7/18 Productivity puzzle weighs on UK growth
FT 13 4 18 Why weak growth matters for monetary policy
This question is about the current profile of the Phillips curve
3 How might a pegged exchange rate be defended by the monetary authority against adverse currency movements?
Financial Update 18/19 Exchange Rate
BBC 4 5 18 Argentina raises interest rates to 40%
Reuters MARCH 9, 2018 / 5:35 AM / Why is the Hong Kong dollar probing the weak end of its band?
FT 13 4 18 Hong Kong authority steps in after local dollar drops to weakest level since 2005
This question is focused on cases where fixed/pegged/target ExRates are under pressure
Please remember that effort does not necessarily mean effectiveness.
The assessor seeks to distinguish between the student that understand a topic, and completes an assessment that reflects their own thoughts on the subject, and the students who outlines key elements of an assessment merely because they are in a textbook under that topic heading and so the ideas of another author. In other words, your tutor will be differentiating between understanding, as in the former case, and knowledge, as in the latter case. Knowing that something occurs directly after something else should be distinguished from knowing WHY that something occurs directly after something else. The descriptive student will identify a process without demonstrating a solid grasp of the underlying causes. This is known as shallow learning. The analytical student will have an understanding of a process that guides the relationship of these two phenomena and so is able to explain why there is a chain reaction and predict the conditions under which that relationship will hold. This is known as deep learning.