Different countries have different economic policies in place. In addition, because of various other factors like geo-political issues, access to capital, public health infrastructure, political system, etc., their macroeconomic indicators and economic growth rates are different. In your final paper, respond to the following questions:
Report the following macroeconomic indicators for your country: GDP, economic growth rate, public debt, inflation rate (CPI, annual variation in %), policy interest rate, and trade balance.
Discuss the state of the economy of the country you selected. Make sure to discuss if the country is experiencing a recession or an expansion and if there is inflation or deflation in the economy.
Discuss the relationship between GDP, inflation, and unemployment as addressed by the AD-AS model and explore if this is the same relationship as explained by the Phillip’s Curve.
Recommend ONE policy to the central bank of the country, given the state of the economy.
Recommend ONE policy to the government of the country you selected, given the state of the economy.
Discuss the possible short-run and long-run implications of using the monetary and fiscal policies you prescribed in the previous questions.
Discuss the differences in the approach taken by a Classical economist versus a Keynesian economist in solving the macroeconomic issues of the country you selected.
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