The introduction summarize the macroeconomic event in the news article chosen and mention what you plan to discuss in the essay.
· Apply the economics concepts and models (AS-AD, Aggregate Expenditure Model, Money Market Diagram) learned to show your understanding in the news event.
· Specifically, you should identify and discuss:
o the key macroeconomic challenges faced by the county namely long-term economic growth( of potential GDP) problem and/ or short-term recessionary or inflationary problem due to business cycle.
o Causes of the problems
o Its impacts on the society and economy and
o The policies implemented by the government concerned to solve the problem (aggregate labour hours, labour productivity , demand side policies )
· Draw the economic models to illustrate the discussion of the economic problem and the government policies.
· A conclusion, highlighting your key points and arguments in the essay.