Consider the following scenario:
You work for a major company in either the US, the Eurozone or Canada.
You were tasked with writing a policy brief for the senior executive management and the members of the board that
broadly addresses the topic of the recent state of the economy in the country of your choosing (you must focus on
either the US or Canada) and takes a stance in the ongoing debate about the possibility and the severity of a
recession as a result of the policy that are targeting the increase in inflation. In particular, your brief should address
the following questions:
1. What is the nature of the recent increase in inflation & what policies, if any, did the central bank and the
fiscal authorities implement to combat the rise in inflation? Your description should be brief.
2. What are the competing views on whether the measures that you described in 1. will result in the economy
going into a severe recession?
a. In order to answer this question, you will need to find and read in detail at least three articles that
outline different views on the recent developments in the economy (you must choose either the US,
the Eurozone or Canada). You will need to reference the articles in your brief.
3. How good are the opinions described in 2? This is where you get to apply the knowledge you have
accumulated in this class and look at the opinions through the lens of the models we have studied in class
a. Are they consistent with the models? Can the models that we discussed generate the predictions
and substantiate the views described in 2? Consider yourself to be the expert who is evaluating how well-founded the opinions of other experts are given what you have learnt about how the economy behaves in Eco202 (Macroeconomics).
4. What is your position on whether the economy is heading toward a recession and if it is heading toward a
recession, how severe? Your answer should be well substantiated for a good mark.
5. Should the government implement any fiscal or monetary policies to try and correct the course of output
and employment, and if so, how will these measures interact with the effort to combat inflation? You should
take a stance on what you think the government should prioritize and provide a well-argued position.
Your brief should address all of the questions above, but it does not have to do it in this order: you have to
determine what would make your brief the most internally consistent and logical. Your brief should be well
structured, with an introduction and logical paragraphs and be internally cohesive.Find at least three articles that discuss whether the economy is in a recession due to government policy or not. You
must use reputable sources: reputable news agencies, newspapers and journals, both academic and non-academic.
You can get started by looking at The Economist, The Wall Street Journal, Financial Times, Brookings.edu, Vox.eu,
etc. (this is not an exhaustive list)
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