Global financial crisis
Assignment 3 assesses students’ understanding of the implementation of monetary policy, fiscalpolicy and other unconventional policies to address recessions and stimulate economic growth.Instructions:In groups of 3 students you are expected to prepare a 2 000 word research report. For theintroduction and conclusion you can use up to 200 words. The report should address the following:The global financial crisis (GFC) of 2008 to 2010 resulted in a downturn in many economies aroundthe world.(a) Select two macroeconomic variables and discuss the impact of the GFC on the followingdeveloped countries: USA, Canada, Singapore, New Zealand and Japan. (400 words) (10 marks)(b) In order to minimize the negative impact of the recession a number of industrialised countriessignificantly reduced their key interest rates – the overnight rate (known by different names indifferent countries). From the list of countries in (a) select any three counties.(i) Track the monthly overnight rate from 1 January 2007 to 30 June 2019. (5 marks)
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