Macroeconomics

As governments in Singapore and Australia are taking unprecedented steps to stop the spread of the virus, the economic fallouts of these steps are gaining momentum at the same time. As movements of people become restricted and supply chain disrupted, the economic consequences of current pandemic (covid-19) are expected to be huge. Both Australian and Singaporean governments are taking various measures to save jobs, protect workers and livelihood, support small businesses and sustain the flow of credit at the same time. All these fiscal measures, in turn, have macroeconomic implications for the economy in the short run and over the medium and long run. In this assignment, you take the role of the policy advisors, employed by government departments (your clients are therefore the government and its ministers) to apply skills and expertise knowledge accumulated in this course so far. As an expert’s role in the government decision-making process, your task has the following two objectives: Analysis: Experts are responsible for analysing the economic scenario (depicting the likely impact of the policy on the economy), using the specialised knowledge and the technical expertise in the discipline. Communication skills: Experts must communicate their finding and recommendations effectively to the decision-makers in government – ministers, senior public servants – and executives of corporations as an independent/third party observer. This assignment is designed to help you develop the skills of critically interpreting and analysing macroeconomic data and effectively communicating your findings to the targeted audience. Part A: Diagnostics (macroeconomics data interpretations) Task: You apply knowledge to the macroeconomics data and present a diagnostic analysis of the economy. Make important observations and assess the current situation of the economy Part B: Policy brief report Task: You are asked to provide critical analysis of economic policies to combat the economic impacts of COVID-19 in the form of the policy brief. Policy briefs aim to be practical and well-researched to make it useful and worthwhile for your clientele.