General Description:
The objective of this individual project is to expound and identify some key macroeconomic indicators while evaluating the economic concepts learnt in class, through careful examination of different economic systems that are in place today. Furthermore, the student should prepared to peruse a wide various of topics including but not limited to: GDP, balance of payments, aggregate demand and aggregate supply, unemployment, inflation, fiscal and monetary policies etc., while undertaking the project and should present a thoroughly researched report in response to the project tasks.
Learning Outcome/s Assessed:
This assessment tool is applicable to learning outcomes 1, 2, 3 and 4 given in the course syllabus wherein student is expected to be able to:
• Discuss the basic concepts of Macroeconomics and identify the key macroeconomic indicators and the concept of circular flow.
• Compare and contrast the different economic systems on a spectrum that extends between controlled economy and market economy, and the subsequent government role.
• Compare and contrast the effectiveness of fiscal and monetary policies as tools to control the economy.
• Analyze simple case studies about circular flow, economic indicators, business cycles, and fiscal and monetary policies.
Resources:
The following resources- online economic databases, websites, academic journals and your recommended textbooks may be accessed to prepare your project report. In addition, you research does not need to be limited to the below mentioned sources. Please speak to your instructor if you have other sources as well.
• https://www.dsc.gov.ae/en-us
• http://data.worldbank.org/
• http://www.altaplana.com/Gate.resource.html
• http://journalistsresource.org/tip-sheets/research/economic-reporting-research
• www.oecd.org
• www.imf.org
• http://wits.worldbank.org/about_wits.html
• http://www.bls.gov/bls/other.htm
• http://www.federalreserve.gov/econresdata/default.htm
Guidelines / Instructions/General Format:
For this particular individual project, the student is allowed to select any country of his/her choice and identify, research and analyze the macroeconomic topics as mentioned below. Since most of the data will be collected from the existing sources, you are required to write an analysis for each part in your own words. The student will get marks for his/her analysis and not for the data that you have collected. The various sections that the student will be required to work on are given below:
Sections:
1. Analyze the reasons and effects of the unemployment and inflation existing in that economy (from a country of your choice) and then suggest applicable solutions to cope with these key macroeconomic indicators.
2. Evaluate the advantages and the disadvantages of the current fiscal policy and monetary policy that is implemented, in the country of your choice.
3. Research and explain the effectiveness of various economic growth reforms that were carried out in the past 5 years.
4. Examine the effects of the balance of payments on the exchange rates in the chosen country explaining how the chosen country manages its foreign debts.
Project Report Format:
Students are required to prepare a detailed, rigorous and comprehensive individual project ,which should include the following major sections:
Title:
Identifying and Analyzing Macroeconomic Indicators and their Impact on the Economy
Table of Contents:
Table of contents includes the headings in the body of the text with page numbers.
Introduction:
This section should outline a brief description of the various macroeconomic topics mentioned in sections 1 to 4 from above. This is the key, since the target audience should be able to comprehend what this particular project report is about what it covers as well.
Research Methodology:
This section is important for judging the validity and credibility of your work. It requires a clear and precise description of how the project was compiled, identifies the sources of data and the types (primary or secondary) used and also documents how the various observations/reports were analyzed.
Analysis Section 1:
For this particular section, the student is expected to analyze the various reasons and effects of unemployment and inflation existing in that economy, and after careful review and analysis of above mentioned sources and other verifiable data, the student is expected to provide reasonable and evidence backed solutions to cope with these problems.
Analysis Section 2
The student should able to evaluate the advantages and the disadvantages of the current fiscal policy and monetary policy being implemented in the chosen country, and this particular section would showcase the various pros and cons of above mentioned macroeconomic policies.
Analysis Section 3
In this section, the student is expected to research, compile and explain the effectiveness of various economic growth reforms that were carried out in the past 5 years.
Analysis Section 4
Section 4 requires the student to examine the effects of the balance of payments on the exchange rates in the chosen country, while explaining in detail, how the chosen country manages its foreign debts.
Conclusion:
It is an essential and effective part of a study provided it summarizes well the contents of your project report. Students should be able to conclude the whole project report in a concise, structured manner.
Bibliography / References:
This section consists of the list of academic journals, textbooks, articles and reports etc. that the student utilized in compiling the project report. You may consult the instructor for the final format of references. This section will appear at the end of your report. The students are expected to reference all their sources in an APA format. These references are set by the APA guidelines and there are numerous sources on the Web that outline these guidelines as well.
Other Requirements:
• Length of the report in MS Word: minimum of 8 pages, not including the title page.
• Page size: (A-4)
• Font (Times New Roman)
• Font size: 11
• Line spacing: 1.5
• APA citation and referencing system must be utilized.
Submission Instructions:
• It is recommended to use graphs and economic models to better illustrate your findings.
• Use correct grammar in English and make sure to have no typos.
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