Part 1 – Consider the 1997 Asian Financial Crisis and its impact on the wealth of households and businesses in Singapore and incorporate each of the following elements into your essay:
- Using the Department of Statistics Singapore El data – Expenditure on Gross Domestic Product In Chained (2015) Dollars, Quarterly, Seasonally Adjusted, generate one appropriate EXCEL chart illustrating the quarterly national growth rate, the percentage change in Private Consumption Expenditure and the percentage change in Gross Fixed Capital Formation from 3Q 1997 to 2Q 1999. Microeconomics Homework help
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Undertake an overview of the event and how it impacted Singapore (remember to use reputable sources in your research and reference), incorporating the information from the chart you generated. Include in your discussion any actions undertaken by the government to combat the crisis and restore economic activity.
- Undertake a model analysis using the IS-LM model. Using the IS-LM model, illustrate and discuss the impact of the Asian Financial Crisis on interest rates and economic activity (and thus the unemployment rate). Remember to explain any changes you have made to the curves and/or any shift(s) you have undertaken
- Based on the impact on interest rates and economic activity you have demonstrated in the IS-LM model, outline the policy advice you would have given to the government under these circumstances. Include in the discussion how the slopes of the curves may affect your policy advice and the long-run impact of this policy action.Microeconomics Homework help
Part 2 – 2-minute recorded digital presentation
Consider the following list of possible government policy initiatives for an economy. Choose one policy initiative and develop one slide in support or against the policy and record argument(s) with slide using Canvas studio. Remember to consider the short-term and long-term impacts and how this may impact the overall economy/particular sectors…
Policy Initiatives
- Introduce excise taxes on all goods and services entering the nation from all trading partners
- Introduce a universal basic income (UBI)
- Reduce the corporate tax rate
- Reduce personal income tax rates for all tier above 120,000
- Reduce (or eliminate) the Goods and Services Tax (GST)
- Provide (or increase) unemployment benefits or an unemployment insurance program
- Privatize all energy providers in the country
- Privatize all public modes of transportation
- Change the exchange rate system from flexible to fixed/pegged • Change the exchange rate system from fixed/pegged to flexible Microeconomics Homework help
