First; you are required to choose one European economy and one economy from outside of Europe.
E.g. Germany and Japan; or Spain and Australia. ( I will choose Germany to present European country,
and the other country I will keep it to the writer to choose outside the European domain, P.S. choose
countries different than the examples provided)
Second; collect relevant data on your selected economies to answer the following questions. To do so,
the data should be organised and presented in an appropriate manner:

A. (A) Plot general unemployment in each country over the past decade
and comment on differences or similarities in the data. (20%)

A. (B) Plot an appropriate measure of inflation in each country over the past decade, briefly
explaining the implications of your findings. (20%)
Third: answer the following questions relating to macroeconomic theory (C) and relate your answers to your
chosen economies where appropriate (D):
A. (C) Explain what is meant by the “Phillips Curve. Plot unemployment against inflation for each
nation using the data collected in parts (A) and (B). Comment on the relationship that appears in your data
between inflation and unemployment. Discuss the extent to which your graphs reveal a Phillips Curve.
(40%)
B. (D) Identify macroeconomic policies introduced over the past decade in your chosen countries to
boost or curtail economic activity. Comment on the subsequent impact seen in the data presented in part (C).
Provide explanations, where appropriate, why you might not see patterns suggested by the theory? (20%)

 

 
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