, ECS4861 Assignment 3 (COMPLETE ANSWERS)
2025 - DUE 13 August 2025
MULTIPLE CHOICE,ASSURED EXCELLENCE
Evaluate the statement “Wage and price rigidities are necessary
for Keynesian economics to explain involuntary unemployment”
with reference to Keynes’s general theory, New Keynesian
economics and the orthodox Keynesian school If, after having
studied the literature and discussed possible problems with
your lecturers, you still fail to grasp some finer theoretical point,
there is no shame in simply admitting your difficulty in your
essay, provided you explain where your problems lie. It is better
to show us that you have grappled with the issues, than to be
caught out purposefully fudging them to hide your own lack of
understanding. And in expressing your difficulty in
understanding some theory, ⇒ While we encourage you to read
more widely, your essay should show proof of your having read
and understood at least the prescribed literature. Essays which
ignore the prescribed readings will be unlikely to get a pass
mark. ⇒ It is customary in academic discourse to acknowledge
the work that you have drawn from. Therefore, whenever you
mention someone else’s ideas or directly quote his or her
words, you should provide a reference. There are various ways
of doing this, but we recommend that you acquaint yourself
with the Harvard system as it is the most widely used in
2025 - DUE 13 August 2025
MULTIPLE CHOICE,ASSURED EXCELLENCE
Evaluate the statement “Wage and price rigidities are necessary
for Keynesian economics to explain involuntary unemployment”
with reference to Keynes’s general theory, New Keynesian
economics and the orthodox Keynesian school If, after having
studied the literature and discussed possible problems with
your lecturers, you still fail to grasp some finer theoretical point,
there is no shame in simply admitting your difficulty in your
essay, provided you explain where your problems lie. It is better
to show us that you have grappled with the issues, than to be
caught out purposefully fudging them to hide your own lack of
understanding. And in expressing your difficulty in
understanding some theory, ⇒ While we encourage you to read
more widely, your essay should show proof of your having read
and understood at least the prescribed literature. Essays which
ignore the prescribed readings will be unlikely to get a pass
mark. ⇒ It is customary in academic discourse to acknowledge
the work that you have drawn from. Therefore, whenever you
mention someone else’s ideas or directly quote his or her
words, you should provide a reference. There are various ways
of doing this, but we recommend that you acquaint yourself
with the Harvard system as it is the most widely used in
