Covid is leading to a changing economic landscape Echoes of an earlier, darker period of economic history are growing louder: Lilly Assignment, NUI, Ireland
| University | National University of Ireland (NUI) |
| Subject | Lilly |
- Covid Policy
Question
Covid is leading to a changing economic landscape. Echoes of an earlier, darker period of economic history are growing louder. Today, a full-blown global supply shock is at hand: energy and food prices are soaring, shipping lanes are clogged and labor shortages are prevalent.
- Use a long-run aggregate demand and aggregate supply model to explain the key role of a flexible exchange rate mechanism for a regional economy like Ireland that is a member of the Euro Single Currency Area and compare this to the potential effectiveness of other economic policies to tackle a supply-side economic shock.
- Based on readings provided in this module, discuss the potential effectiveness of President Joe Biden’s ambitious $3.5 trillion spending program of government investment to overcome equity and equality concerns in the US and critique the proposed mechanism to fund this increased spending.
- Competition and Regulation
Question
- Outline and explain the new theory of regulation based on modern behavioral economics and ‘boundedly’ rational consumers covered in this module.
- Based on readings provided in this module, critically evaluate a recent ‘Big Tech’ competition case and ruling at an EU level that you are familiar with, with a focus on
(i) the market failure issue,
(ii) the ruling’s potential to increase the forces of competition in the market and
(iii) the benefits to consumers and the potential impact on market power and deadweight loss.
- GDP and Growth Potential
Question
- Use the Solow growth model to explain the importance of investment in contributing to the output level and growth of a country.
- Based on readings provided in this module, critically analyze the role of wealth and assets in producing welfare and future sustainability in an economy with specific reference to the UN’s Changing Wealth of Nations Report and social capital.
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