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Mathematics & Economics
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Coursework
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ECONOMIC IMPACTS OF COVID-19 PANDEMIC. Mathematics & Economics Coursework

Coursework Instructions:

Each Answer of the question should contain the following: (Minimum 100 words for each question)
1) Statement of a problem.
2) Identification of the relevant economic concept.
3) Analysis and explanation.
Questions:
1. As the aftermath of the COVID-19 pandemic many people in the world have experienced a decrease in income. Do you think consumer price index will be lower or higher this year? Explain why? Also, comment if you consider the officially reported value of inflation will be objective. What economic concepts support your answer?
2. The US economy has shrunk 5% due to the impact of the Covid-19 pandemic. President Trump has passed a piece of legislation that allows for 5 Trillion dollars to be put back into the economy, through near-zero interest loans for business, and payments of nearly $2,000 for the population. How do you think people will use their $2,000 payment, and why? How do you think industry will use their much larger payments, and why? Comment on short term, and long-term application.
3. Consider an economy. This economy’s real GDP is constant. The government decides to buy out the government bonds from the commercial banks. What macroeconomic variables will such policy affect? Explain why. Would this effect be different if there was more output produced in the same year? What concept explains this?
4. As some universities continues to grow and grow, expanding into post graduate, and doctorate courses, many have asked for higher education to be free. Describe the advantages and disadvantages to the economy, if education was free in that country.
5. The Australian Prime Minister recently announced measure to help the economy from the Covid-19 pandemic. The Australian government have introduced a financial grant for people to build their first home. The grant is worth $25,000. The owners must live in the house once its completed, and they must use local workers to build the house. How do you think this will help the Australian economy? Be specific, and provide examples in your answer.

Coursework Sample Content Preview:

ECONOMIC IMPACTS OF COVID-19 PANDEMIC
Your Name
Subject’s name
Professor’s name
Date of Submission
Questions:
1 As the aftermath of the COVID-19 pandemic many people in the world have experienced a decrease in income. Do you think consumer price index will be lower or higher this year? Explain why? Also, comment if you consider the officially reported value of inflation will be objective. What economic concepts support your answer?
The issue on COVID-19 has left a lot of damages in the economic aspect not only in this country but throughout the world. There has been cases of closed businesses due to bankruptcy. The consumer price index and inflation are in question due to the pandemic. In the advent of this pandemic, the CPI in several countries have increased drastically and this is because of inflation. As quarantine continues and more businesses close, the demands for necessities and other things tend to increase with a much decrease in supply. This imbalance leads to a more inflated price on particular goods.
2 The US economy has shrunk 5% due to the impact of the Covid-19 pandemic. President Trump has passed a piece of legislation that allows for 5 Trillion dollars to be put back into the economy, through near-zero interest loans for business, and payments of nearly $2,000 for the population. How do you think people will use their $2,000 payment, and why? How do you think industry will use their much larger payments, and why? Comment on short term, and long-term application.
The money being provided to the population in the U.S. will most likely be used for the acquisition of essential goods. This is because people are out of work and they do not have much means to be able to buy all their needs and wants. As for industries, the money they have received will be distributed to cover up losses and to give monetary assistance to their employees. In a short term application, this move is beneficial for both the population and the country, but if the pandemic persists, the nationwide funds will start to decrease which is detrimental.
3 Consider an economy. This economy’s real GDP is constant. The government decides to buy out the government bond...
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