[Solution]Macroeconomic Analysis – Aggregate Expenditure Model

Purpose To assess your ability to undertake a macroeconomic analysis of a selected country. Overview Throughout the second half of the course you are asked…

Purpose

To
assess your ability to undertake a macroeconomic analysis of a selected
country.

Overview

Throughout
the second half of the course you are asked to analyze a country’s economy
through the application and analysis of economic data.

In this
week’s assignment you are asked to select a country and apply its GDP data to
the expenditure model.

Action
Items

Review chapters 11 and 12 in Farnham (2014).Select a country to analyze (Canada). Go to The World Factbook. CIn the upper right dropdown click on “Please select a country to view”Once on your chosen country’s page, click on “Economy” and use the data there to complete the (Please note specific data requested for this and future assignments appear in red on the Worksheet.)​​Using data from the Worksheet, complete the Excel document for your chosen country.Write 2-pages business brief describing the results, follow these guidance:Provide relevant background on your country

[Type a quote from the document or the
summary of an interesting point. You can position the text box anywhere in
the document. Use the Drawing Tools tab to change the formatting of the
pull quote text box.]

 

Not history!

Current economic situation*, for example, appropriate comparisons
might include:

This requires a
little research and then critical thinking and synthesis between economic
concepts from Chap 11 & 12 and research on current economic situation
of country.

 

Size of GDP and place in the world’s GDP

E.g. Top 10%, bottom 10%,
middle 50%E.g. It’s like the size of
the GDP of TexasSize of population, but then compare to somethingCurrent economic situationVenezuela – can’t feed its
people due to . . . Price of oil impacting Saudi
ArabiaImpact on Russia of
International (US/EU) sanctions/embargoGovernment debt situation in
GreeceAge of population in JapanEtc, etcProvide economic definition(s) for appropriate economic topics
covered in business brief*, e.g.GDPComponents of GDPCircular FlowExpenditure approach = Income approach = GDPMarginal Propensities (to Consume, Invest, Import)Multiplier effectEquation 12.20 from textbookDescribe the data you entered into the spreadsheet (the green input
boxes)*GDP (PPP) $ Values, GDP component percentagesDescribe the two Scenarios and the resulting forecast for 2017 GDP*What are the $ values?  What
are the % growth values?  What’s the
multiplier value?Why are they different?Describe the multiplier effect *                                                                                               (*
= Required)BenefitsLimitations

Important to create a cohesive “story” / argument describing your
country and the data entered into the spreadsheet and the results of the
spreadsheet.

Note: We will be using a “proxy
variable” approach to estimating the impact of fiscal policy using the GDP
data for each country.
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