Question 1: Macroeconomic snapshot ( 8 marks – 100 words excluding the tables an

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Question 1: Macroeconomic snapshot ( 8 marks – 100 words excluding the tables and graphs)
Collect data on the following
a. 2009-2019 (whichever LATEST data are available on GDP growth rate, inflation rate,
and unemployment rate) which will be used as the “pre-COVID-19” period.
b. Gather estimates of the same macroeconomic indicators in 2020 under
the pandemic
c. Projections for 2021 and later as post-COVID-19 conditions
Notes: Given word limit, you don’t need to analyse the fluctuation of data in details.
Graphs and tables, with maximum 100 word explanation is enough.
Suggested sources: international organizations like WB, IMF, OECD and national
statistics offices of countries. You may use newspaper articles as data sources for these
estimates.
Page 2 of 4
Question 2: Analysis of Policy Changes in the Pandemic – 14 marks ( 700- 1000 words)
Version 2 – 2B – Fiscal Policy
a. Investigate the following key data during the 3-5 year period before Covid and in 2020:
i. its recent tax and government spending
ii. the budget situation (in surplus/deficit)
iii. the importance of general government expenditure in GDP (measured as % of the GDP)
iv. the ratio of government debt to GDP
Highlighting changes in 2020 with the previous years as a response to the COVID-19
outbreak.
b. Assess impacts of the policy change, if any. Use the AS/AD diagram to highlight the
theoretical impacts of the policy to the economy. Use the real data from your
observations/data set to highlight and analyze significant changes in the AD and/or SRAS
as a result of the policy change.
c. In reality, what can possibly reduce the multiplier impact of fiscal policy? What can
increase the crowding out effect? Discuss the effectiveness of fiscal policy in your
country based on these.
Page 3 of 4
Question 3 : Effect of the pandemic on the inflation (8 marks – max 150 words)
Discuss possible impacts of the Covid-19 and policy changes on inflation in the country. Is there
any risk of inflation or deflation? Illustrate these with AS-AD diagram.
Provide updated data on inflation rates over recent months/quarters and forecast in the
economy. Do your data support the findings of the above discussion and the AS AD diagram?
Notes: the key differences between Question 2 and Question 3 is while Question 2 focus on the
analysis of policy changes (either fiscal policy or monetary policy depending on each version),
Question 3 is focused on inflation, requiring you to evaluate the impact of all possible combined
variables on the price level in the economy and to provide some forecast. You can utilize some
key ideas developed from question 2.
Part 4: The open – economy macroeconomics (5 marks – 150 words)
Collect data about the Current Account Balance of the country and its components during the
last five years. Discuss the effect of Covid -19 on each component and the total Current Account
Balance.
Part 5: Industry Engagement Reflection (5 marks – 150 words)
Write a reflection highlighting the key points discussed by our industry partner, Mr. Pham Luu
Hung, Economist of SSI. How does the industry talk help you understand more about the real
fiscal policy and/or monetary policy implementation in Vietnam, including both advantages and
difficulties? Ensure clear linkages between his real discussion and the theories learnt in topic 5,
8,9 and 10.
Pls find the link for presentation slides and the recording from the industry engagement.

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