KHE268 Economics I
Answered
Task
Assignment Brief
Working individually, conduct research on the economic performance of one (1) country over the last ten years, from 2005 to 2018, 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.
More marks will be awarded for reports which provide more detailed discussion and in-depth analysis. The essay shall be about 2,000 words (+ 10%).
The essay should be presented in the following format: -
1. Introduction
- Provide an overview of the economy chosen (around 1 page for this introduction)
2. Production Output Performance Analysis
a. GDP
b. GDP Growth Rate (refer to study guide as below p.57 for meaning)
- need chart
- Describe and explain performance trends
c. GDP Per Capital Analysis (refer to study guide as below p.58 for meaning)
- only for this, you can compare with another country.
- compare as below Country, based on below two point: -
- Leisure time is not included in real GDP.
- Environmental damage is not deducted
d. Government’s measure to achieve the economic performance. (GDP)
- Economic growth (refer to study guide as below p.65)
- Google search: Singapore stimulus package
3. Labour Market Analysis
a. Type of unemployment (general) - (refer to study guide as below p.64)
b. Describe unemployment Trend
- need chart (google search: Singapore unemployment rate)
- specific to your choice country
c. Government measures to achieve full employment.
- google search: Singapore WDA
- (refer to study guide as below p.65)
4. Price Level Analysis
a. Describe the Inflation Trend (need chart)
- more than 5% (serious)
- Singapore Inflation rate – Chart
b. Causes of Inflation
c. Government Measures to achieve stable price.
- (refer to study guide as below p.65)
- car & house
- search Singapore car 50% down payment
- Singapore property cooling measures (2011, 2012, 2013 year)
5. Conclusion
- Summary of key highlights of discussion.
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