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Economics

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1.What are the micro and macro functions of ‘money’ in the economy (Use the market model and the equation of exchange to explain). What are the ‘monetary aggregates’ and how as what constitutes ‘money’, (fiat, commodity, crypto), changed over recent times. 2.What is the role and tools of the central bank in controlling the money supply. Using both the simple business cycle model and the money market model, show how our central bank addressed the ‘Great Recession’ that began in 2007. What has been the impact and what is the current policy of the Fed? (Be able to describe the basic structure of the Fed and the current issues that have arisen about the Fed’s independence. 3.What are (and explain briefly) the three principal functions the government plays in the economy? How did the Great Depression of the 1930s and the Stagflation of the 1970s and 80s reflect the revolutionary macroeconomic thinkers of those times? Using the AS-AD model show the impact to these different policies on policy. How is this economic debate currently playing out in the U.S. economy? 4.Explain the principal meaning of a federal system of government and indicate how, using the U.S.A. as an example, are the responsibilities and revenue sources for the federal segments of government. Explain the cause(s) of the U.S. federal budget deficit and debt. What are concerns associated with the debt? What is meant by the term, ‘monetizing the debt? 5. What are the economic indicators that are used to describe the state of the economy? How can they be used to assess the current state of the economy? What the tradeoff between inflation and unemployment? Between the short-run and long run? What is the form of taxation that does not require legislation? Explain briefly. 6. What are the main spending responsibilities of federal government? How does the federal government seek to pay these bills? Explain the structure of the U.S. government debt markets at the federal and also municipal level. Describe the risk and term structure risk of government debt. 7. What is the BOP? What are the major accounts and balances? What are the impact of persistent deficits in the Current Account Balances on international indebtedness and also on currency exchange rates? What are the causes of exchange rate fluctuations and what is meant by a strong exchange rate and what impact will that likely have on trade? 8. What are some of the likely causes of government economic failure? Cite some current examples of governments failing and the explain the problems associated with this failure. How have public pensions contributed to the pressures on governments and their prospects of failing?
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ECONOMICS
Money is used as a medium of exchanged. There are three main micro and macro
function of money which include a store of value, medium of exchange and unit of account. The
monetary aggregate is the amount of money that is used to be circulated in a country or economy
in order to balance the economic status of a country. This is because in an economy, there should
not be less money among people but also there should not be excess money because it will lead
to inflation.
The Central Bank is important in the economy of a country because it controls the
liquidity in the financial system. The bank is also responsible to give loan to a country in case
there is an emergency where money is required. The current policy of the Fed is to ensure that
there are stable prices, maximum employment and moderated long term interest. There is twopart structure of the Fed which include the board of governors and 12 federal reserve banks.
The three principal function of the government is to provide social network and economic
stability in an economy. There is economic debate in the US on how they can best improve their
economic structure. The federal system of government is where power is divided among the
national government, state and local governments. For example, ...


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