Economic Concept

Rationale of Group Project

▪ Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations. Team work and collaborative learning are also encouraged as a result.

Forming your Group

▪ You are to form a group of either 4 or 5 members.
▪ You must submit the “Group Formation Form” to your lecturer with details completed by the end of Lecture 3.
▪ The “Group Formation Form” will be given to you during Lecture 1.

Choosing a Country for Analysis

▪ You are to choose a country for your group project analysis, using relevant analytical tools and macroeconomic concepts (not necessarily all of them) presented in Lectures 1 to 5.

Choosing Articles as References for Analysis

▪ Search through newspapers, journals, magazines or internet for FOUR articles (for group of 4 members) or FIVE articles (for group of 5 members) based on the country you have selected for your group project and are relevant to the concepts discussed in Lecture 1 to Lecture 5. Quote the source of the article in your report or if the article is obtained from the web, quote the web address.
▪ Each article should deal with a different macroeconomic aspect of the country your group is working on (for example, GDP growth, labour productivity, wages and unemployment, price level and inflation, national savings and capital formation, economic fluctuation and fiscal stimulus, etc). Each member of the group has to contribute to one lecture topic and members cannot focus on a same lecture topic.

The lecture topics are as follows:

Lecture Topic 1: Introduction to Macroeconomics, GDP and Economic Growth
Lecture Topic 2: Inflation and the Price Level
Lecture Topic 3: Wages and Unemployment
Lecture Topic 4: Saving, Capital Formation, Financial Markets and Financial System
Lecture Topic 5: Short-term Economic Fluctuations and Introduction to Basic Keynesian Model

Analyzing your Country

▪ For each of the four or five articles, summarize the article first and followed by an analysis of the macroeconomic performance of the country based on the article. The analysis must cross-reference to concepts discussed in one particular lecture topic.
▪ You are required to use the lecture notes and textbook to help you better illustrate your analysis. If you extract exact phrases or sentences, please put them in quotation marks in your report.
▪ Explain your understanding of the article using the economic concept and knowledge discussed in the lecture. Establish the linkage between the article and the economic concept under the particular lecture session and topic. Draw diagrams to support your analysis if needed.

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