Macroeconomic Theory and Policy
Project description
1. Contrast the Keynesian and Neo-classical approaches to macroeconomics.

2. Describe the main features of the Bretton Woods System.

3. What is stagflation’ and why did it help bring the Golden Age of Keynesianism’ to an end?

4. What was the reasoning behind the UK joining the ERM and why did the UK subsequently leave the ERM?

5. What did the Monetarist Experiment’ of the 1980’s promise and was this borne out in practice?

6. In what circumstances could austerity’ in public spending actually make public sector debt worse?

7. Explain the link between the Keynesian multiplier’ and the shape of the IS curve.

8. How does the endogeneity of money affect the LM curve?

9. When is fiscal policy likely to crowd-out’ the private sector?

10. When might the Bank of England’s main policy instrument become ineffectual?