Choose one major key foundation macroeconomic concept and provide a critical overview of its value in explaining, or solving, one or more real-world macroeconomic problems or challenges. Some examples of topics that may be used are mentioned below. Your work should be presented in essay format but may benefit from the inclusion of tables, diagrams, etc., and most probably will need a bibliography, depending on what you choose to work on. Examples of topics/areas to focus on:
1. How would you explain the stability seen in UK interest rates over the past 8-10 years?
2. Explain why central bank independence is important.
3. In recent months UK unemployment date has looked very healthy. How would you explain this outcome? 4. Would we be correct in describing President Trump’s internal economic policies as Keynesian?