n energy crisis is a shortfall in the provision of energy supplies.The European Green Deal will transform the European Union into a modern, resource-efficient and competitive economy, ensuring no net emissions of greenhouse gases by 2050 and economic growth decoupled from resource use. You have been hired as a researcher to write about the expected macroeconomic effects. On the one hand, you are asked to identity and to analyse the macroeconomic effects of the impact of the energy crisis and, on the other hand, you are asked develop and explain in which sense the European green deal could mitigate the effect of energy crisis Your assignment should include the following analysis Assume a closed economy and use the IS-LM and AS-AD models to analyse the expected short-run and long-run effects of the shock generated by the energy crisis as these are predicted by macroeconomic theory. Then, discuss how the European Green Deal could be seen as a solution. Discuss the variables affected and whether such a policy will eventually achieve its goals drawing from your own model analysis. 2. Learning outcomes • The ability to apply theoretical understanding to the analysis of key policy events and questions within macroeconomics • The ability to understand the role of key assumptions in structuring a variety of macroeconomic models and determining their conclusions • The ability to assess the impact of macroeconomic policies and institutions in determining key economic variables • The ability to use data to evaluate competing explanations of macroeconomic phenomena to support your discussion 3. Assessment criteria • IS-LM and AS-AD analysis: Knowledge, understanding and presentation (properly constructed model graphs and equations) of the IS-LM and AD-AS models; appropriate terminology; ability to use the model to conduct a coherent, critical and persuasive analysis (50%) • Discussion: Quality of the discussion based on the available relevant academic literature; evidence of wider reading; use of macroeconomic data and statistics and quality of the data analysis (45%) • Appropriate academic referencing following the Harvard system (5%) Introduction: 50 words IS-LM and AS-AD analysis: 450 words Discussion: 100 words No conclusion required
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