Please read the assignment requirements and instructions carefully, include all the points/content required, and answer all the questions asked. The whole content should be detailed and use graphs as well.Must use the references required rather than other database/reference source.Should you use the Assignment Template provided below to finish this assignment paper (essay).Must you Note: In-text citation and references must be provided and followed by the requirement.
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ECON Assignment – Greek tragedies, Irish blessings, Icelandic sagas
Content requirement
The global financial crisis of 2008-2009 had widespread effects across Europe, but the
damage to the Greek, Irish and Icelandic economies were particularly acute. Greece
required multiple rounds of financial assistance to service its debt obligations, conditional
on punishing austerity and reform measures that have proved deeply unpopular. Ireland
and Iceland also required substantial international assistance, including reforms
prescribed by the International Monetary Fund as they recovered from their respective
financial crises.
In a paper of 1,500 – 2,000 words, compare the experiences of Iceland, Ireland and Greece
during the 2008-2009 recessions and subsequent period including the sovereign debt
crises of 2012. What were the causes of each country’s crisis? What is the current
state of the economy in each nation? Are these countries finally on a sustainable
path or must these countries consider additional options for economic stabilization?
Based on this analysis and comparison against other nations, make a
recommendation about what path European governments should pursue to secure avoid
future crises like these. Identify the risks and drawbacks as well as the merits of your
recommendation.
For your answer, you should seek guidance from recent literature and news coverage
of the subject. This must include news articles from the Economist, the Financial
Times, the New York Times (Paul Krugman’s blog), the Wall Street Journal as well as
more formal treatments from economists at the IMF, central banks (working papers)
and voxeu.org
Guidelines for submission
• Your answers must use the template provided.
• Must use the articles as references from mentioned websites and journals
• Charts and diagrams must have sources below and in the background section
• In-text citation and References cited using APA
FROM:
DATE:
SUBJECT:
[name], [student number]
[date]
[subject – should be no more than one line]
ISSUE
[The issue statement sets out what has happened, is happening or will happen to trigger
the need for the note. It should not exceed three or four lines.]
HIGHLIGHTS
•
[The highlights section should be a bulleted list]
•
[3-4 items maximum – “what is the most important thing the audience should
learn or do as a result of reading this note?”]
•
[Highlights should be either statements of the problem, key evidence and/or
bottom-line conclusions. Leave detailed explanations/justification/rationale to the
considerations section.]
•
[Highlights are not for Key Communications Messages]
•
[Highlights should not be an outline of the paper, but should provide key
evidence, conclusions/recommendations and the important justification]
BACKGROUND
[The background section provides information that will help the client to understand the
issue at hand and its context. Any relevant background data, context or analysis drawn
from other public documents should be included in the background.]
[Not all notes require a background section. If that is the case for the note you are
working on, delete the heading “Background”.]
[Background sections should contain no confidential information, nor any statement of
options and recommendations, nor anything that constitutes a judgment of an
ambiguous situation. Nothing but publicly-available facts should be in the background.]
Tables and Charts
Canada: Economic Growth
8%
6%
6.4%
6.4%
5.2%
5.5%
FORECAST
5.8%
5.4%
4.4%
4.7%
0.4%
2.7%
3.1%
2011
10%
Example Chart formatting (with source)
2010
•
4%
2%
1.9%
3.1%
3.0%
2.9%
2.5%
0%
-2.6%
-2%
-4%
2008
2007
2006
2005
2004
2003
2009
-4.5%
-6%
Source: Statistics Canada, Provincial Economic Accounts, NS Department of Finance forecast
2
CONSIDERATIONS
[The considerations section provides findings, analyses, pros and cons, options and
arguments. Considerations are about ambiguities – things that cannot be settled
definitively by reference to objective facts. Considerations should lead the client to an
advisable response to the issue statement at the beginning of the note.]
[Tables and charts can be very helpful in the Considerations section, but they should be
analytical in nature. Any simple public data should be illustrated and discussed in the
background section. Tables and charts used for analysis should be ‘value-added’,
leading the Minister to a conclusion or response:]
[If you have been asked to evaluate options and provide a recommendation, the options
should be outlined and evaluated in the considerations section. After identifying the
problem, the considerations section should provide at least three options for dealing
with it. These options should each be substantive, distinct and feasible. Never discuss
an option that isn’t possible! Option selection should ensure that decision-makers are
exposed to the full range of their choices – even the ones you judge to be the least
desirable.]
[The criteria for evaluating options should be described before actually evaluating the
options. The criteria will depend on the issue and options at hand. In evaluating
economic policy, the ultimate criteria is welfare. However, this is usually inaccessible
for decision-makers with little or no formal training in economics. Instead, useful
economic decision criteria include the major indicators of income or standard of living.
[You should also evaluate the distributional effects of your policy options. Who will
benefit (compared to the situation if government takes no action)? Who pays
(compared to the situation if government takes no action)? Which stakeholders are
most affected?]
[If the government has articulated a clear statement of its vision, you should assess
each policy option against the government’s stated vision – is it consistent with the
stated vision of the government? Does it conflict with some or all of the elements of the
government’s vision?]
[Not all notes require a section on considerations. If that is the case for the note you are
working on, delete the heading “Considerations”.]
3
RECOMMENDED ACTION – ADVICE TO MINISTER
CONCLUSION
4
REFERENCES
[To preserve the intellectual honesty of this document and ensure that readers can carry
out further research if desired, provide references in footnotes throughout the document
using the APA reference style. Provide a full list of references on separate pages at the
back of the document]
5
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