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SBC Year 2 Business

2012 - 2013

Economics for Business 2: Macroeconomics


Economics for Business 2: Macroeconomics

The total mark for this assignment is 25. This constitutes 25% of the total marks for this subject.

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(a)| Explain the meaning of the following economic concepts: * The National Income identity * Actual and potential economic growth | [ 10 ]| (b)| Discuss the significance of ‘the accelerator’ in accentuating the fluctuations in the business cycle. In your answer you should: * Explain what is meant by ‘the business cycle’ * Explain the concept of ‘the accelerator’ * Examine the relationship between the business cycle and the accelerator | [ 12 ]| | Up to an additional three marks can be awarded based on the overall presentation of the paper including accurate referencing and a full and detailed bibliography.| [ 3 ]|

| Useful ResourcesThe following are recommended sources from reference books available in the library (however please avoid using examples taken directly from the books in your answers): * Mankiw & Taylor, Economics 2nd edition, pages 492 to 494 * Sloman & Garratt, Essentials of Economics 5th edition, pages 276 to 284 For further web-based research the following websites may be of use: * * * *| |

| Notes:| |
| (i)| It is recommended that the answer be between 1200 and 1500 words (not including the bibliography). | | | (ii)| The assignment should be formatted in the following way: * Use Arial font * Use font size 12 * Use double or 1.5 spacing * Use the title of the document as the header * Use your student name, number, class number and page number as the footer | | | (iii)| At all times you should express your ideas and develop your answers in your own words; of course you may use quotes or refer generally to textbooks, quality...