, ECS2602 Assessment 1 Semester 1 2025 (Unique
Number: 587603) - DUE 31 March 2025 ;100 %
TRUSTED workings, Expert Solved, Explanations
and Solutions.
Multiple choice ,assured choice
Assessment 1: Videos and Questions The module ECS2602
consists of three interrelated sections. Section one: This section
consists of learning units 1 to 4, and we develop the IS-LM
model for a closed economy. Through the IS-LM model, you will
understand how the demand for goods determines the level of
output and income and the role of fiscal and monetary policies
in influencing the demand for goods and, hence, the level of
output and income. In the IS-LM model, the focus is on the role
of the demand for goods. We assume that firms are willing to
supply any quantity at a given price – in other words, we ignore
supply constraints. Section two: A closed economy does not
participate in international trade, while an open economy has
significant trade and financial relationships with other
economies. In section two (learning units 5 to 7), we extend the
IS-LM model to deal with output and income determination in
an open economy and consider the role of fiscal and monetary
policy in such a model. In learning unit 5, several key concepts
and relationships are introduced. In learning unit 6, with
learning unit 2 as background, the focus is on the demand for
goods in an open economy. Learning Unit 7 focuses on
Number: 587603) - DUE 31 March 2025 ;100 %
TRUSTED workings, Expert Solved, Explanations
and Solutions.
Multiple choice ,assured choice
Assessment 1: Videos and Questions The module ECS2602
consists of three interrelated sections. Section one: This section
consists of learning units 1 to 4, and we develop the IS-LM
model for a closed economy. Through the IS-LM model, you will
understand how the demand for goods determines the level of
output and income and the role of fiscal and monetary policies
in influencing the demand for goods and, hence, the level of
output and income. In the IS-LM model, the focus is on the role
of the demand for goods. We assume that firms are willing to
supply any quantity at a given price – in other words, we ignore
supply constraints. Section two: A closed economy does not
participate in international trade, while an open economy has
significant trade and financial relationships with other
economies. In section two (learning units 5 to 7), we extend the
IS-LM model to deal with output and income determination in
an open economy and consider the role of fiscal and monetary
policy in such a model. In learning unit 5, several key concepts
and relationships are introduced. In learning unit 6, with
learning unit 2 as background, the focus is on the demand for
goods in an open economy. Learning Unit 7 focuses on
