2 Questions:
Question 1:
Apply the AD/AS model to discuss whether or not discretionary increases in
government purchases influence levels of economic activity in the long run.
Question 2:
Apply the Phillips curve framework to discuss the implications of the
accelerationist hypothesis for the rate of inflation from attempts by government to
keep unemployment consistently below its natural rate.
This essay should offers thorough and articulate arguments
that are well linked to theories. It demonstrates a high level of understanding of the topic and associated issues.
There is evidence of reading widely beyond the required readings.
There are a good range of real-world examples and/or statistics to support arguments. Appropriate diagrams are used effectively to explain theories. The question is addressed convincingly and consistently.
The essay is well organised . All information is clearly presented and offers a high level of clarity. Technical vocabularies are accurately explained, accessible to target audience. There is a clear use of formal language, free of grammatical errors.
You should cite sources though this is not to be considered as coursework, and as such it is not expected for you to include lengthy quotes, and no formal reference list is required (in-text citations are required though).
– Including any diagrams, figures or tables in your answer, these MUST NOT be copied from the internet or any other source.
Please include your own figures/diagrams, i.e. drawn using a suitable editor or drawn and inserted by you.
Figures should be cited in the main text and appropriately explained.
