BS3326 Further Topics in Macroeconomics
Further Topics in Macroeconomics
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BS3326
Further Topics in Macroeconomics
PLEASE READ CAREFULLY.
THERE WILL BE NO EXTENSIONS TO THIS TIME.
CONSIDER THIS AS AN OPEN BOOK EXAM, AND NOT COURSEWORK, YOU
ARE NOT EXPECTED TO SPEND THE EXTENDED TIME ON YOUR WORK.
DECLARATION:
I declare that I have personally prepared this assignment. The work is my own, carried
out personally by me unless otherwise stated and has not been generated using
Artificial Intelligence tools unless specified as a clearly stated approved component of
the assessment brief. All sources of information, including quotations, are
acknowledged by means of the appropriate citations and references. I declare that
this work has not gained credit previously for another module at this or another
University.
I understand that plagiarism, collusion, copying another student and commissioning
(which for the avoidance of doubt includes the use of essay mills and other paid for
assessment writing services, as well as unattributed use of work generated by Artificial
Intelligence tools) are regarded as offences against the University’s Assessment
Regulations and may result in formal disciplinary proceedings.
I understand that by submitting this assessment, I declare myself fit to be able to
undertake the assessment and accept the outcome of the assessment as valid.
TAKEAWAY EXAMINATION: 24-Hour Access
INSTRUCTIONS TO CANDIDATES:
• Please carefully read the instructions before you submit your answers.
• Please type your answers on a WORD DOCUMENT.
• Please include the following information ON YOUR DOCUMENT:
o CANDIDATE NUMBER (6-DIGIT)
o MODULE CODE and MODULE NAME
• Please use ARIAL font, Size: 12 point and 1.5 spacing.
• You can only submit ONE DOCUMENT. You must combine all answers,
figures, tables, and calculations into ONE DOCUMENT. If you have any hand-
written calculations or answers, scan or take a photo, and insert into the word
file.
• Save your FILE as “Module Code – Candidate Number”.
o For example: BS3326 -123456
o This will also be your TITLE when you submit via TURNITIN.
• If you have problems submitting your answers via TURNITIN, please email
[email protected] with the following information:
o Full Name
o 9-digit Student ID Number
o 6-digit Candidate Number
o Screenshot of the error message
o Attach your WORD DOCUMENT with the ANSWERS on it
• NOTE: Spot checks via oral verification may apply to this module.
EXAMINATION PAPER INSTRUCTIONS TO CANDIDATE:
• Section A: Answer the ONE compulsory question.
• Section B: Answer the ONE compulsory question.
• Section C: Answer ONE (1) question out of TWO (2) questions.
• Each section is weighted as follows:
o Section A is worth 30 per cent of the total marks.
o Section B is worth 35 per cent of the total marks.
o Section C is worth 35 per cent of the total marks.
ADDITIONAL INSTRUCTIONS - PLEASE READ VERY CAREFULLY
• CITATIONS AND REFERENCES: You should cite sources though this is not
to be considered as coursework, and as such it is not expected for you to
include lengthy quotes, and no formal reference list is required (in-text
citations are required though)
• PLAGIARISM: All submissions will be put through Turnitin and tested for
plagiarism. Therefore, please do not copy contents from web and/or any other
source.
• WORD COUNT/LIMIT: Please refer to each section for the specific WORD
COUNT/ LIMIT.
• DIAGRAMS, FIGURES or TABLES - You should construct your own original
economics diagrams and figures, i.e. drawn using a suitable editor or drawn
and inserted by you into the answer in your Word document. If you are including
any visual tables, diagrams or infographics these need to be referenced and
should be taken from reputable sources such as academic journals, periodicals,
and national or international statistical agencies or databases, e.g. the Office
for National Statistics or the IMF World Economic Outlook Database. Please
avoid using material from obscure websites and essay sites.
• You MUST NOT contact the module leader, teaching team or BSS College
Office (Exams & Assessment or Student Support) through email during the 24-
hr period, when the exam is taking place, with any queries related to the exam
questions to ensure fairness to all students. Please answer the questions to the
best of your abilities and your own understanding.
Do NOT mark your answers on this examination paper.
Write your answers on a separate Microsoft Word document.
PLEASE SUBMIT ONLY ONE DOCUMENT.
SECTION A: BRIEFING NOTES
ANSWER THE FOLLOWING COMPULSORY QUESTION.
THIS SECTION SHOULD BE AROUND 800 WORDS IN TOTAL (EXCLUDING
CITATIONS AND REFERENCES).
THIS SECTION CARRIES 30% OF THE OVERALL MARKS.
Assume that you are an experienced macroeconomist working for the Government
Economic Service (GES), the largest employer of economists in the United Kingdom.
You have been tasked by your line manager with writing ONE briefing note on a key
macroeconomic concept for the successor to your role who is joining the GES after
recently completing their undergraduate economics degree. They are particularly keen
that you draw out their real-world macroeconomic significance.
Your line manager has given you a choice of three concepts from which to choose
ONE. Finally, they have requested that your briefing note on your chosen concept
should be around 800 words, excluding citations/references and text associated with
the inclusion of footnotes and endnotes.
• Hysteresis effects
• Balance sheet effects
• Inflation bias
Please use the following criteria:
• Font: Arial
• Font Size: 12
• Spacing: 1.5
END OF SECTION A
SECTION B: COMPULSORY ESSAY
ANSWER THE FOLLWING COMPULSORY QUESTION.
THE ESSAY SHOULD BE AROUND 1,100 WORDS, EXCLUDING CITATIONS AND
REFERENCES.
THIS SECTION CARRIES 35% OF THE OVERALL MARKS.
Please use the following criteria:
• Font: Arial
• Font Size: 12
• Spacing: 1.5
B1 With the aid of the DAD-DAS model discuss the importance of propagation
mechanisms in determining how economies adjust to economic shocks.
END OF SECTION B
SECTION C: ESSAY
ANSWER ONE (1) OUT OF TWO (2) QUESTIONS.
THE ESSAY SHOULD BE AROUND 1,100 WORDS, EXCLUDING CITATIONS AND
REFERENCES.
THIS SECTION CARRIES 35% OF THE OVERALL MARKS. EACH QUESTION
CARRIES THE SAME WEIGHT.
Please use the following criteria:
• Font: Arial
• Font Size: 12
• Spacing: 1.5
C1 Discuss the argument that the financial system plays an important role in
mitigating the volatility of economic growth.
C2 Discuss the argument that monetary policy should be delegated to a central
bank with a mandate for price stability to prevent excessive rates of inflation.