Policy prescription for the economy impact. The COVID-19 pandemic is impacting economies around the world. What policy prescriptions would Keynes advocate, and why? How are these policies different from, or similar to, those of Neoclassical Economics, and why? Illustrate your answer using the Australian or UK economy.
Each question requires you to discuss the reasons for the different explanations by TWO schools of economic thought about a nominated economy. You need to draw on at least EIGHT scholarly references (books and journal articles)
This will require you to search for suitable scholarly works. –Blogs and websites are not scholarly sources although you may use these to find scholarly references. –Use the readings list for each module as a start to find suitable references.
A scholarly source does not have to be specifically about a topic (e.g. the Australian economy) –A scholarly source may be about issues which are related to issues occurring in the Australian economy like, for example, market concentration (oligopolies), the causes and characteristics of unemployment, the trajectory of economic growth and the causes of economic crisis, structural change within the economy from particular policies, or the stance of government fiscal and monetary policies to stimulate or dampen aggregate demand.
Your paper should include an introduction, a body, and a conclusion. Also, support your answers with the course’s readings and at least two scholarly journal articles. The article’s purpose is to support your positions, claims, and observations, in addition to your textbook. Sources ProQuest and EBSCOhost are great sites to find resources. Also, write in a concise and logical, using excellent grammar and style techniques. Additionally, the quality of your writing dictates grading criteria. On the other hand, if you use direct quotes from books or articles, place the words you copied (use parenthesis) and cite in-line.