General Guidelines
– In the introduction, summarise the macroeconomic event in the news article chosen and mention what you plan to discuss in the essay
– In the body of the essay, you should identify and discuss:
1) the key macroeconomic challenge(s) faced by Japan namely long-term economic growth (of potential GDP) problem and/or short-term recessionary or inflationary problem due to business CYCLE.
2) causes of the problems
3) its impacts on the society and economy and
4) the policies implemented by the government concerned to solve the problem. (aggregate labour hours, labour productivity, demand-side policies, supply-side policies)
5) Draw the economic models (AS-AD, Aggregate Expenditure Model, Money market diagram) to illustrate the discussion of the economic problem and the impacts of government policies. Do not draw other economic models
6) A conclusion, highlighting your key points and arguments in the essay
