Question

Part II: Macroeconomic Situation Suppose you are a policy advisor who is asked to analyse the economic impacts of the COVID-19 pandemic on the whole economy. You may start your analysis by conducting background research on the relationship between the occurrence of global pandemics and the economic performance of countries. Drawing on previous cross-country research, you may conclude that since 1900 , a recession has been the likely outcome of such pandemics. However, it is worth noting that the occurrence of recessions during those times was not solely related to pandemics. For instance, the Spanish Flu (1918-20) occurred when WWI was about to end, and there was evidence of decreased employment (to population). Similarly, recessions following the Asian Flu (1957-58) and Hong Kong Flu (1968-69) pandemics were caused by federal reserve action and fiscal and monetary policies related to the Vietnam War. Macroeconomic Questions 4. Considering the historical tendency for pandemics to contribute to recessions, clearly identify and analyse the main factors contributing to the recession in New Zealand after this global pandemic. To support your argument, provide relevant statistics/data comparing New Zealand's macroeconomics before (prior to 2020) and after the pandemic (after 2020 onwards). This data can be related, but not limited to, GDP per capita/growth rate, unemployment rate, inflation rate, govemment expenditures, etc. Report only statistics that can fully support your argument. Country-level data can be adopted from sources such as NZ stats, the WB, UN, IMF, OECD, etc. Utilise the AD-AS diagram to clearly explain and illustrate changes caused by postpandemic policies. 5. Expanding on the analysis presented earlier, explain how the govermment and public agencies can mitigate the impacts of this recession. In your argument, specify whether you prescribe fiscal/monetary policy or both and discuss the likely outcomes for the economy. Explain how your prescribed policy solution(s) can help improve the economy. It is important to mention how you went about your analysis, so provide rationales for your policy recommendation(s) and discuss the efficacy of these policy solution(s) on the New Zealand economy. You may compare/contrast other countries' fiscal/monetary policies with the one(s) you prescribed for New Zealand to justify your argument. Please note that the country(ies) in your sample should be comparable with New Zealand, so be sure to clarify how you ended up with your sample. Utilise the AD-AS diagram to clearly illustrate the expected outcomes of the proposed policy solution(s). Try to formulate your answer in an essay-type format, meaning that you should have a brief introduction, an appropriate number of body paragraphs (discussing both micro and macro sides of the topic), and a discussion and/or conclusion. Below I describe what can be included in each part.

Part II: Macroeconomic Situation
Suppose you are a policy advisor who is asked to analyse the economic impacts of the COVID-19 pandemic on the whole economy. You may start your analysis by conducting background research on the relationship between the occurrence of global pandemics and the economic performance of countries. Drawing on previous cross-country research, you may conclude that since 1900 , a recession has been the likely outcome of such pandemics. However, it is worth noting that the occurrence of recessions during those times was not solely related to pandemics. For instance, the Spanish Flu (1918-20) occurred when WWI was about to end, and there was evidence of decreased employment (to population). Similarly, recessions following the Asian Flu (1957-58) and Hong Kong Flu (1968-69) pandemics were caused by federal reserve action and fiscal and monetary policies related to the Vietnam War.

Macroeconomic Questions
4. Considering the historical tendency for pandemics to contribute to recessions, clearly identify and analyse the main factors contributing to the recession in New Zealand after this global pandemic. To support your argument, provide relevant statistics/data comparing New Zealand's macroeconomics before (prior to 2020) and after the pandemic (after 2020 onwards). This data can be related, but not limited to, GDP per capita/growth rate, unemployment rate, inflation rate, govemment expenditures, etc. Report only statistics that can fully support your argument. Country-level data can be adopted from sources such as NZ stats, the WB, UN, IMF, OECD, etc. Utilise the AD-AS diagram to clearly explain and illustrate changes caused by postpandemic policies.
5. Expanding on the analysis presented earlier, explain how the govermment and public agencies can mitigate the impacts of this recession. In your argument, specify whether you prescribe fiscal/monetary policy or both and discuss the likely outcomes for the economy. Explain how your prescribed policy solution(s) can help improve the economy. It is important to mention how you went about your analysis, so provide rationales for your policy recommendation(s) and discuss the efficacy of these policy solution(s) on the New Zealand economy. You may compare/contrast other countries' fiscal/monetary policies with the one(s) you prescribed for New Zealand to justify your argument. Please note that the country(ies) in your sample should be comparable with New Zealand, so be sure to clarify how you ended up with your sample. Utilise the AD-AS diagram to clearly illustrate the expected outcomes of the proposed policy solution(s).

Try to formulate your answer in an essay-type format, meaning that you should have a brief introduction, an appropriate number of body paragraphs (discussing both micro and macro sides of the topic), and a discussion and/or conclusion. Below I describe what can be included in each part.

Part II: Macroeconomic Situation
Suppose you are a policy advisor who is asked to analyse the economic impacts of the COVID-19 pandemic on the whole economy. You may start your analysis by conducting background research on the relationship between the occurrence of global pandemics and the economic performance of countries. Drawing on previous cross-country research, you may conclude that since 1900 , a recession has been the likely outcome of such pandemics. However, it is worth noting that the occurrence of recessions during those times was not solely related to pandemics. For instance, the Spanish Flu (1918-20) occurred when WWI was about to end, and there was evidence of decreased employment (to population). Similarly, recessions following the Asian Flu (1957-58) and Hong Kong Flu (1968-69) pandemics were caused by federal reserve action and fiscal and monetary policies related to the Vietnam War.

Macroeconomic Questions
4. Considering the historical tendency for pandemics to contribute to recessions, clearly identify and analyse the main factors contributing to the recession in New Zealand after this global pandemic. To support your argument, provide relevant statistics/data comparing New Zealand's macroeconomics before (prior to 2020) and after the pandemic (after 2020 onwards). This data can be related, but not limited to, GDP per capita/growth rate, unemployment rate, inflation rate, govemment expenditures, etc. Report only statistics that can fully support your argument. Country-level data can be adopted from sources such as NZ stats, the WB, UN, IMF, OECD, etc. Utilise the AD-AS diagram to clearly explain and illustrate changes caused by postpandemic policies.
5. Expanding on the analysis presented earlier, explain how the govermment and public agencies can mitigate the impacts of this recession. In your argument, specify whether you prescribe fiscal/monetary policy or both and discuss the likely outcomes for the economy. Explain how your prescribed policy solution(s) can help improve the economy. It is important to mention how you went about your analysis, so provide rationales for your policy recommendation(s) and discuss the efficacy of these policy solution(s) on the New Zealand economy. You may compare/contrast other countries' fiscal/monetary policies with the one(s) you prescribed for New Zealand to justify your argument. Please note that the country(ies) in your sample should be comparable with New Zealand, so be sure to clarify how you ended up with your sample. Utilise the AD-AS diagram to clearly illustrate the expected outcomes of the proposed policy solution(s).

Try to formulate your answer in an essay-type format, meaning that you should have a brief introduction, an appropriate number of body paragraphs (discussing both micro and macro sides of the topic), and a discussion and/or conclusion. Below I describe what can be included in each part.

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