Investigate the historical GDP growth, unemployment rate, inflation rate for each country and identify the business cycles through accessing the data of the statistical bureaus of the respective countries, the IMF database, the World Bank database, or the OECD statistics. Pay attention to the difference between real and nominal data. You should use the longest available data in this task. 20 Marks 2. Identify the phases of the business cycle for each country, in particular, identify the time periods of economics recessions for each country. Contrast your assessment with the literature. For each country, you should use at least three different sources of literature. (hints: the publications of the central bank represent usually the official view on the macro economy, the peer reviewed papers usually represent the view of the authors.) 20 Marks 3. Draw AD-AS model for each country separately. Carefully choose the scale of your axes. The graph should represent your assessment of the current macroeconomic state in the business cycle. It should also indicate the macroeconomic issue you identified for the respective country. 10 Marks 4. Discuss one of the four macroeconomic issues, which you identify as the most relevant issue in the current situation of the respective country. Contrast your assessment with the literature. Here you are required to use at least three different sources of literature. 20 Marks GA/MA503 Economics 4 GA/MA503 Group Assignment T3-2018 5. Make a brief comparative analysis of the four countries, with respect to global economic impacts and country specific developments, in particular, you need to compare the impact of the global financial crisis on the four countries under investigation. 20 Marks 6. Based on your analysis above, write a report with the title “Macroeconomic Briefing of [countries]”. Pay attention to: in text reference, reference list, data source.
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