The Great Recession

Topic: One of the consequences of the Great Recession of 2007/2008 was a deep recession and accumulation of enormous public debt in many UE countries, including Greece. Design macroeconomic policy that would help the recovery of the Greek economy. a. Assess both short-run and long-run consequences of the policy (please take into account that Greece is an EMU member). b. Elaborate on the negative results of high deficit and public debt. Please, take into account that your essay should contain: 1. Introduction 2. Description and evaluation of a phenomenon, including key macro indicators dynamics 3. Theoretical analysis with the use of appropriate tools (IS-LM/AS-AD) ( 4. Discussion on the consequencies of budget deficit and public debt 5. Explicit and reasonable conclusion Format: Paper: A4, margins 2.5 cm; font: Times New Roman 12; double space between verses; approximate length: 2,000 words. Make sure to provide proper referencing; otherwise, you might be accused of plagiarism. Please use solely reliable statistical data (World Bank, IMF, United Nations databases). Please refer solely to reliable publications (articles and reports). Internet publications are not treated as reliable resources. NOTE: If the formatting of the essay is in such a condition that it will unable its grading, the essay is given mark 0%. The essay will be checked for plagiarism. Please be sure to properly cite all the sources and use quotation marks where need, otherwise it will be treated as plagiarism. This includes graphs, tables, etc.

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