BCO1214 MACROECONOMICS
REPORT
Description:
· Choose ONE of the topics detailed below to write a report
· Weight: This task is worth 45% of your overall grade for this subject.
· The session of Week 13 will be an extra tutoring session: you will be able ask the professor for last advice on your project.
Assignment Launch: Week 10.
Submission: Week 13 Via Moodle (Turnitin). Submission will be accepted all Week 13: From the 4th to the 10th of May at 23:59hrs (Barcelonas time).
Formalities:
· The minimum amount of words to be used is 1500 and the maximm is 2200
· You may want to include images/graphics etc. (for example from their website) to make your reasoning and argumention more visual and explicative
· Font: Arial. Size: 12,5pts. Line spacing: 1,5. Text align: Justified.
· Appendices and References, do not count towards the final wordcount but are strongly recommended (referencing websites, articles, books etc.)
CHOOSE ONE OF THE FOLLOWINT TOPICS
Topic 1: Eurozone and Macroeconomic goals
Write a report that assess the role of the Eurozone institutions to achieve macroeconomic goals.
The report should include the following sections:
· Cover Page: Title, Course, Name of Student
· Table of Contents
· Section 1. (25%) The Eurogroup is debating EU-wide unemployment insurance scheme.
· Define the different types of unemployment and discuss which one is the target of such a measure.
· Analyze the possible effects of this measure using the concepts delivered in class.
· Section 2. (25%) Monetary authorities.
· In the Eurozone, which institution oversees monetary policy, and which one controls fiscal policy?
The main goal of the European Central Bank is controlling the inflation. Why it is so important? To answer this question:
· define aggregate demand and aggregate supply in the long-run and short-run (use graphs), and
· explain the main effects of rising prices in the economy using the concepts delivered in class.
· Section 3. (25%) During the 2008 crisis, the Eurozone countries applied different strategies to prevent a fall of aggregate demand.
· Provide two examples of fiscal policies in face of an economic crisis and discuss their positive and negative effects on aggregate demand. Use the concepts of multiplier effect and crowding-out effect delivered in class.
· Section 4. (25%) There is evidence of an increasing protectionism in global trade (US and China trade war), which might cause a fall in global trade.
· Explain what the expected impact of the fall in international trade on the Eurozone economy might be. Use the AD/AS model and the concepts delivered in unit 8. This section must include a written explanation and charts.
· Bibliography
Topic 2: The role of Eurozone during the coronavirus crisis
Write a report that assess whether the Eurozone countries have so far responded adequately to the economic challenges that have arisen during the coronavirus crisis.
The report should include the following sections:
· Cover Page: Title, Course, Name of Student
· Table of Contents
· Section 1. (25%) The Eurogroup is debating EU-wide unemployment insurance scheme to mitigate the effects of the coronavirus crisis.
· Define the different types of unemployment and discuss which one is the target of such a measure.
· Analyze the possible effects of this measure using the concepts delivered in class.
· Section 2. (25%) The Eurogroup is discussing issuing Bons to cushion the economic downturn.
· In the Eurozone, which institution oversees monetary policy, and which one controls fiscal policy?
The main goal of the European Central Bank is controlling the inflation. Why it is so important? To answer this question:
· define aggregate demand and aggregate supply in the long-run and short-run (use graphs), and
· explain the main effects of rising prices in the economy using the concepts delivered in class.
· Section 3 (25%) Fiscal and monetary policies
·
· Provide information on fiscal and monetary policies that are being (or are planned to be) implemented as a response to the coronavirus crisis to prevent a fall of aggregate demand.
· Provide two examples of fiscal policies in face of an economic crisis and discuss their positive and negative effects on aggregate demand. Use the concepts of multiplier effect and crowding-out effect delivered in class. This section must include a written explanation.
· Section 4. (25%) Coronavirus crisis will certainly cause a fall of global trade.
· Explain what the expected impact of the fall in international trade on the Eurozone economy might be. Use the AD/AS model and the concepts delivered in unit 8. This section must include a written explanation and charts.
· Bibliography
Outcomes: This task assesses the following learning outcomes:
· understand the forces determining macroeconomic variables such as national output, inflation, unemployment, and interest rates.
· apply macroeconomic terminology and assess macroeconomic policy suggestions.
· evaluate real life situations with a practical application of the acquired tools and knowledge.
RECOMMENDED SOURCES:
· Data: Eurostat https://ec.europa.eu/eurostat/home
· Information: European Commission https://ec.europa.eu/info/index_en
Rubrics
Exceptional
90-100
Good
80-89
Fair
70-79
Marginal fail
60-69
Knowledge and Identification of the main Issues
20%
Identifies and demonstrates a sophisticated understanding of the main issues / problems in the case study
Identifies and demonstrates an accomplished understanding of most of the issues/problems.
Identifies and demonstrates acceptable understanding of some of the issues/problems in the case study
Does not identify or demonstrate an acceptable understanding of the issues/problems in the case study
Application
30%
Student applies fully relevant knowledge to the situation provided
Student applies mostly relevant knowledge to the situation provided
Student applies some relevant knowledge to the situation provided. Some minor misunderstandings may be evident.
Student applies little relevant knowledge to the situation provided. Misunderstandings are evident.
Evaluation
30%
Student assembles a coherent response to the question, providing a range of support and justification that leads to a well-reasoned conclusion
Student assembles a good response to the question, providing support and justification that lead to a well-reasoned conclusion
Student assembles a fair response to the question, providing some support and justification that lead to a well-reasoned conclusion. Minor misunderstandings may be evident
Students response to the question lacks coherence. Limited support and justification are provided that may or may not be well linked to the conclusion
Communication
20%
Student communicates ideas extremely clearly and concisely. Compliance with the guidelines on font, size, line spacing and text align will also be taken into account.
Student communicates ideas clearly and concisely. Compliance with the guidelines on font, size, line spacing and text align will also be taken into account.
Student communicates ideas fairly clearly and concisely. Compliance with the guidelines on font, size, line spacing and text align will also be taken into account.
Student attempts to communicate ideas clearly and concisely, with some problems. Student does not follow the guidelines on font, size, line spacing and text align.
