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Task summary
You will use the knowledge of global economics to examine
and analyse the reading on the attached case (Attachment: Case Study
Mismanagement of Fiscal Policy Greece Achilles Heel).
Relevant knowledge and aspects of global economics to be
used in the study may include:
·
Globalisation, living standards, Flows of capital and
resources.
·
Free markets, economic protectionism, and national and
international prosperity.
·
Global prosperity, inequalities.
·
Governance, GDP, domestic affairs, immigration, conflict,
economic sanctions and trade.
·
Microeconomics, market, competition, supply and demand,
elasticity.
·
Global trade and government policy.
·
Business cycle: expansion, contraction, recovery.
·
Sharing economy, ageing, blockchain.
·
Global labor competition and peer to peer financial model.
The overarching topic, that you will need to develop your
scholarly opinion for, is ‘lessons learned from the Greek economy’.
Write a report of no more than 2700 words (excluding title
page, references and appendix) that respond to five questions. Including references (roughly 4
references per 500 words) to other readings to support and contextualise your
opinion is required.
Task description
By 2012 there were worrying signs arising from the Greek
economy. Over the following years the Eurozone, the IMF, and various Greek
Governments formed various views and took different actions with the aim of
addressing these worrying signs. You will draw on the knowledge gained from
this unit to answer questions related to the Greek experience.
You will read the article (Case
Study: Mismanagement of Fiscal Policy: Greece’s Achilles’ Heel) and
write a report of no more than 2700 words (excluding title page, references and
appendix) that answers the following questions.
What would have been the economic implications for Europe if Greece
were ejected from the Eurozone after the crisis and political upheaval
around 2015?
How did the economic policies used by the European community address
Greek macroeconomic issues?
Identify how the policy decisions made by Greece since 1973
contributed to the sovereign debt crisis in 2010.
What actions by the Greece government and national banks were used
to implement fiscal and monetary policies used by the Greeks to respond to
global business cycle fluctuations?
How did Greek economic policy compare with Australian economic
policy for the same time period? What local (Australian) factors
contributed to this difference in Australian economic policy?
Task conditions
Reports are marked on how well the specific requirements are
achieved in accordance with the assessment criteria in the
case study rubric.
Reports must follow the APA 7th edition referencing style
Your entire report must not exceed 2700 words (excluding title page,
references and appendix).
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