Consider you are an economic adviser to the International Monetary Fund (IMF). The IMF Chief has asked you to examine the business cycles in the global macroeconomy, and prepare a briefing report to be included the World Economic Outlook, a publication of the IMF.
In preparing the briefing report (your assignment), you are asked to focus on the following:
“Discuss the causes and consequences of business cycles (booms and recessions) in the global macroeconomy in general. Draw on (discuss) the experiences of
(a) the Great Depression of the 1930s,
(b) the Global Financial Crises (GFC) of the late-2000s, and
(c) the World-wide economic crisis caused by COVID-19 pandemic.
Discuss the “effectiveness” and “limitations” of monetary and fiscal policies in stabilizing/reviving the economy.
Consider whether the monetary and fiscal policy measures adopted during the COVID-19 pandemic crisis were different from those adopted during the Great Depression and GFC, how/why? Discuss.
Based on your analysis, what policy recommendations would you make to stabilise the global macroeconomy.
See full assignment description in the attached file.