Reference no: EM13314944
Please note that this question requires substantial research (see the assessment criteria below).
(a) Explain whether there is a relationship between inflation and unemployment. Should government interfere and reduce inflation and unemployment? Provide real life examples.
(b) Using your home country as a case study outline and analyse inflation, unemployment and growth trends. Identify what range of the aggregate supply curve your country is operating in.
(c) For your case study explain inflation, unemployment and GDP using AD-AS model.
Additional marks
Overall presentation of work, especially use of graphs, clear written expression.
Appropriate use of referencing.
Assessment criteria
• Besides the textbook, you should also refer to a few other academic books, journal articles and relevant websites in answering these questions.
• Sources must be acknowledged and a list of references provided.
• Concepts must be defined accurately and completely.
• The assumptions upon which the analysis is based must be stated at the onset.
• Critical analysis should be provided by relating economic theory to real life economic examples and the case study
• Diagrams must be drawn properly, correctly labelled and the relations they depict explained.
Answers must be complete, addressing the specific tasks nominated in the questions.
Word count: 3,000 words
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