Highlights
Task:
techniques of analysis you have used to get those results; in other words, to 'signpost' the reader through the essay. Second, to define up-front any key terms used. 2. A theoretical section detailing the models and theories used, including the assumptions upon which they are founded, and which should also be clearly denoted by a sub-heading. This maps directly to the first learning objective of the course. 3. An applied section that shows how the theory developed in the previous section can be applied to a practical policy making issue, which may either be explicitly given in the question or should otherwise be drawn from your own knowledge of how the particular theory may be applied in a contemporary policy-making context. This maps directly to the second learning objective of the course. 4. A conclusion which should briefly summarise your key findings and identify any of the limitations of your models and policy analysis (perhaps by reference back to the underpinning assumptions) and how these may be overcome in more advanced literature. This maps directly to the third learning objective of the course.
Essay 1 (40%)
Any substantial blocks of text copied from external sources will be redacted and not be graded. Each answer should have no more than woo words (in any submissions that exceed this world limit, only the first woo words will be graded).
Assuming capital mobility is high but imperfect and an absence of inflation, demonstrate how the effectiveness of austerity policies depends on the choice of exchange rate regime. Why might austerity policies not be the most appropriate response to rising public debt in times of
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