ECON6001: Economic Principles - Understanding of the Concept of Market Failure - Economics Assessment Answer

Subject Code: ECON6001 Internal Code: 1AGGBH

Economics Assessment Answer

TASK:

1. Analyse, individually and in teams the role of fundamental micro- and macroeconomic principles in business decision-making.
2. Critically evaluate the applicability of various theories to economic policies and business decision making related problems.
3. Critically evaluate the role and impact of various forms of government intervention in the economy including business implications.
4.  Communicate complex economic concepts to business professional.

(a) Critically evaluate how this policy has been successful in ensuring the economies attain stable price stability, steady economic growth and reduced unemployment rate since adoption. Your discussion should include a comparative analysis of the two countries and you must make a judgement on which of the two countries has achieved better outcomes using inflation targeting. (b) Of the less successful country, provide an explanation of what could have impeded policy implementation. (c) Using the same two countries selected, critically evaluate how they have utilised fiscal policy during the global financial crisis of 2008/2009. (d) Justifying with evidence (qualitative and quantitative), which of the two countries was more successful in minimising the potential negative effects of the recession?

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