{"id":846,"date":"2011-11-02T01:13:07","date_gmt":"2011-11-02T07:13:07","guid":{"rendered":"http:\/\/opengecko.com\/economics\/applied-macroeconomics-evaluating-demand-side-policies\/"},"modified":"2011-11-02T01:13:07","modified_gmt":"2011-11-02T07:13:07","slug":"applied-macroeconomics-evaluating-demand-side-policies","status":"publish","type":"post","link":"https:\/\/opengecko.com\/geckoview\/economics\/applied-macroeconomics-evaluating-demand-side-policies\/","title":{"rendered":"Applied Macroeconomics &#8211; Evaluating Demand Side Policies"},"content":{"rendered":"<p><b><font size=\"3\">Aims:<\/font><\/b><\/p>\n<p><font size=\"3\">\u00b7 To recap the Paper 1 Mark Scheme<\/font><\/p>\n<p><font size=\"3\">\u00b7 To revise learning on the macroeconomic equilibrium, Keynesian and neoclassical perspectives and demand side policies.<\/font><\/p>\n<p><font size=\"3\">\u00b7 To apply the above learning to examples, both theoretical and real-life.<\/font><\/p>\n<p><font size=\"3\">\u00b7 To develop critical analysis and evaluation skills.<\/font><\/p>\n<p><b><font size=\"3\"><\/font><\/b><\/p>\n<p><b><font size=\"3\">Step 1 \u2013 Recap Exam Technique<\/font><\/b><\/p>\n<p><font size=\"3\">\u00b7 Remember the <\/font><a href=\"https:\/\/docs.google.com\/Doc?docid=0AYilwm4jmDQLZGZwMzJxcGRfNTMwZjY1OHdnZ2Q&amp;hl=en_GB\"><font size=\"3\">Paper 1 Mark Scheme<\/font><\/a><\/p>\n<p><font size=\"3\">\u00b7 Remember the <\/font><a href=\"https:\/\/docs.google.com\/viewer?a=v&amp;pid=explorer&amp;chrome=true&amp;srcid=0B4ilwm4jmDQLZGFlOTc4NDctM2FjYS00YTE4LWE5ZjgtYzYxNjg3Yzc2ZTlj&amp;hl=en_GB&amp;authkey=CIe2goME\"><font size=\"3\">tips on evaluation<\/font><\/a><\/p>\n<p><b><font size=\"3\">Step 2 &#8211; Analyse a Theoretical Scenario.<\/font><\/b><\/p>\n<p><a href=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/11\/clip_image001.jpg\"><font size=\"3\"><img loading=\"lazy\" decoding=\"async\" style=\"margin: 0px; display: inline\" title=\"clip_image001\" alt=\"clip_image001\" src=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/11\/clip_image001_thumb.jpg\" width=\"450\" height=\"337\" \/><\/font><\/a><\/p>\n<p><font size=\"3\">Image: <\/font><a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\"><font size=\"3\">Some rights reserved<\/font><\/a><font size=\"3\"> by <\/font><a href=\"http:\/\/www.flickr.com\/photos\/apodd\/\"><font size=\"3\">APMus<\/font><\/a><\/p>\n<p><font size=\"3\">You should ideally work in a pair or three and, as a team, will analyse the <b>likely macroeconomic impacts<\/b> of one of the following scenarios. <\/font><\/p>\n<p><font size=\"3\">1) Government announces a large increase in spending on health and education.<\/font><\/p>\n<p><font size=\"3\">2) Chancellor announces tax exemption scheme on new investments for small to medium sized firms.<\/font><\/p>\n<p><font size=\"3\">3) Average wage rises way above inflation for the third month running.<\/font><\/p>\n<p><font size=\"3\">4) Exchange rate appreciation knocks export hopes for manufacturing.<\/font><\/p>\n<p><font size=\"3\">5) Institute of Directors (IOD) latest survey shows clear signs of optimism for the future of the economy<\/font><\/p>\n<p><font size=\"3\">6) Central Bank signals rise in interest rates of \u00bd%<\/font><\/p>\n<p><font size=\"3\"><\/font><\/p>\n<ul>\n<li><font size=\"3\">You should include at least one diagram.<\/font> <\/li>\n<li><font size=\"3\">You should <i>evaluate<\/i> the likely effects \u2013 how strong will the impact be?<\/font> <\/li>\n<li><font size=\"3\">There may not be one single answer \u2013 you simply need to be able to justify your predicted outcomes. Evaluation often needs to look at the assumptions we start with \u2013 you should be clear about what you are assuming.<\/font><\/li>\n<\/ul>\n<p><font size=\"3\"><\/font><\/p>\n<p><font size=\"3\">Prepare a presentation (using for example Google Docs Presentation on MS Powerpoint) and prepare between two and four slides to show and explain the effects.<\/font><\/p>\n<p>&#160;<\/p>\n<p><b><font size=\"3\">Step 3 &#8211; Analyse a Real Life Scenario.<\/font><\/b><\/p>\n<p><b><font size=\"3\"><\/font><\/b><\/p>\n<p><a href=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/11\/clip_image002.jpg\"><font size=\"3\"><a href=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/11\/clip_image0021.jpg\"><img loading=\"lazy\" decoding=\"async\" style=\"display: inline\" title=\"clip_image002\" alt=\"clip_image002\" src=\"https:\/\/opengecko.com\/geckoview\/wp-content\/uploads\/2011\/11\/clip_image002_thumb.jpg\" width=\"450\" height=\"338\" \/><\/a><\/font><\/a><\/p>\n<p><font size=\"3\">Image: <\/font><a href=\"http:\/\/creativecommons.org\/licenses\/by-sa\/2.0\/\"><font size=\"3\">Some rights reserved<\/font><\/a><font size=\"3\"> by <\/font><a href=\"http:\/\/www.flickr.com\/photos\/rmgimages\/\"><font size=\"3\">RambergMediaImages<\/font><\/a><\/p>\n<p><font size=\"3\">You ideally need to form different pairs \/ threes in which you will be able to offer feedback to each other.<\/font><\/p>\n<p><font size=\"3\">Each pair focuses on a region of the world, and each person selects a separate and current headline and article related to a demand side policy that has been introduced by the government there.<\/font><\/p>\n<p><font size=\"3\">\u00b7 North America<\/font><\/p>\n<p><font size=\"3\">\u00b7 South America<\/font><\/p>\n<p><font size=\"3\">\u00b7 Europe<\/font><\/p>\n<p><font size=\"3\">\u00b7 Africa<\/font><\/p>\n<p><font size=\"3\">\u00b7 Asia (not Thailand)<\/font><\/p>\n<p><font size=\"3\">\u00b7 Thailand<\/font><\/p>\n<p><font size=\"3\">You need to summarise:<\/font><\/p>\n<p><font size=\"3\">\u00b7 Why there was a need for the demand-side policy<\/font><\/p>\n<p><font size=\"3\">\u00b7 The likely impact and successes \/ shortcomings of the policy.<\/font><\/p>\n<p><font size=\"3\">\u00b7 Include reference to at least one diagram<\/font><\/p>\n<p><font size=\"3\">Try to use all of the techniques needed for a top scoring evaluation based essay.<\/font><\/p>\n<p><font size=\"3\">Create a Google doc (or some similar document) that you will share with your partner(s).<\/font><\/p>\n<p><font size=\"3\">A suggested site to search on: <\/font><a href=\"http:\/\/news.google.co.uk\/\"><font size=\"3\">http:\/\/news.google.co.uk\/<\/font><\/a><\/p>\n<p><font size=\"3\"><\/font><\/p>\n<p><font size=\"3\">Here is the <\/font><a href=\"https:\/\/spreadsheets.google.com\/spreadsheet\/ccc?key=0Ak7Z7IanG_gadFQtRUZTWVhhQ1NTZWdoMEd4ZnJ0c2c&amp;hl=en_GB&amp;authkey=CLb_lPcN\"><font size=\"3\">evaluation spreadsheet<\/font><\/a><font size=\"3\"> to provide feedback with. Make a copy and share it with your partner to offer them feedback with.<\/font><\/p>\n<p><font size=\"3\"><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aims: \u00b7 To recap the Paper 1 Mark Scheme \u00b7 To revise learning on the macroeconomic equilibrium, Keynesian and neoclassical perspectives and demand side policies. \u00b7 To apply the above learning to examples, both theoretical and real-life. \u00b7 To develop critical analysis and evaluation skills. Step 1 \u2013 Recap Exam Technique \u00b7 Remember the Paper&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,10],"tags":[238,194,266,267,222,248],"class_list":["post-846","post","type-post","status-publish","format-standard","hentry","category-economics","category-ib-economics","tag-aggregate-demand","tag-collaboration","tag-demand-side-policies","tag-evaluation","tag-exam-technique","tag-macroeconomics-2"],"_links":{"self":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/comments?post=846"}],"version-history":[{"count":0,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/posts\/846\/revisions"}],"wp:attachment":[{"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/media?parent=846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/categories?post=846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/opengecko.com\/geckoview\/wp-json\/wp\/v2\/tags?post=846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}