Assignment Problem:
Prepare 2000 words report and for the introduction and conclusion you can use up to 200 words.
The report focuses on macroeconomic management during and after the global financial crisis of 2007 to 2009. The report should address the following country.
- Developed country: - United Kingdom
- Developing country: - India
(1) Collect information on the budgets of each of the selected pair of countries for the 15 years from 2004 and 2018. You need to collect information on the major components of revenue and expenses with smaller items put into the category "others". Determine whether the country or federal budget was in surplus or deficit in each of the years.
(2) Perform a comparative analysis of the composition of the items of budget and expenditure over the 15-year period between the two countries chosen and comment on how these have changed over the period. (400 words)
(3) How has the global financial crisis (GFC) affected the budgets of the two countries? In your answer consider how the use of fiscal policy during the GFC impacted the budget deficit/surplus. The period of the GFC is 2007 to 2009. (500 words)
(4) Discuss attempts that have been made by the authorities to reduce budget deficits post - GFC (from 2010 to 2018). Were they successful in their endeavor? (400 words)
(5) Using academic literature perform a comparative discussion that evaluates how successful the two countries used fiscal policy to pursue objectives of sound macroeconomic management post GFC until the end of 2018. (500 words)
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