Elite Academic Institute 068 053 8213 /0717 513 144/ 061 262 1185
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Educating the world for a better change
,Elite Academic Institute 068 053 8213 /0717 513 144/ 061 262 1185
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENT
Educating the world for a better change
, Elite Academic Institute 068 053 8213 /0717 513 144/ 061 262 1185
Table of Contents
QUESTION 1: Keynesian and Chicago Economic Thinking ....................................... 4
(a) Keynesian Demand Management Theory ............................................................. 4
(b) Chicago School Perspective and Friedman’s View ............................................... 5
QUESTION 2: Measurement of Government Spending Between Countries .............. 6
2.1 Diagram: General Government Final Consumption Expenditure (% of GDP) ...... 6
2.2 Comparison and Explanation of Trends ............................................................... 7
2.2.1 Government Expenditure Trends in South Africa .............................................. 7
2.2.2 Government Expenditure Trends in Burundi ..................................................... 8
2.2.3 Comparative Analysis of Trends........................................................................ 8
QUESTION 3: Application of Chicago Economic Thinking ......................................... 9
3.1 Identification and Explanation of Recessionary Year(s) ....................................... 9
3.2 New Classical Macroeconomics (Mark I) Policy Response ................................ 10
The South African Reserve Bank (SARB) ................................................................ 12
Functioning of the SARB .......................................................................................... 12
Challenges Facing the SARB ................................................................................... 12
The National Treasury .............................................................................................. 13
Functioning of the National Treasury........................................................................ 13
Challenges Facing the National Treasury ................................................................ 13
References ............................................................................................................... 15
Educating the world for a better change
ademic In
Ac sti
te
tu
Eli
te
W
er
de
a
h
eG M
raduates Ar e
Educating the world for a better change
,Elite Academic Institute 068 053 8213 /0717 513 144/ 061 262 1185
WARNING: PLEASE NOTE THAT PLAGIARISM IS A SERIOUS ACADEMIC
OFFENSE, therefore, the documents provided here including past assignments, tests
and notes are intended SOLELY for educational purposes and as a guide to help
students understand academic concepts and improve their writing skills. These
materials should not be submitted as final work, as doing so may constitute academic
dishonesty. Students are encouraged to use them as reference points, develop their
own understanding and produce original work that reflects their knowledge and critical
thinking. Students are also encouraged to regenerate their own (personalized)
solutions paying particular attention to module contents as prescribed by module
facilitators, lecturers and supervisors. If this document is plagiarized by the users and
fails, ELITE ACADEMIC INSTITUTE should not be rendered accountable since the
contents in this document only give learners a kick-start on what is expected of them
from their areas of specialty.
CAUTION: STUDENTS ARE NOT MANDATED TO USE ALL THE INFORMATION IN
THIS DOCUMENT IN WRITING THEIR ASSIGNMENT
Educating the world for a better change
, Elite Academic Institute 068 053 8213 /0717 513 144/ 061 262 1185
Table of Contents
QUESTION 1: Keynesian and Chicago Economic Thinking ....................................... 4
(a) Keynesian Demand Management Theory ............................................................. 4
(b) Chicago School Perspective and Friedman’s View ............................................... 5
QUESTION 2: Measurement of Government Spending Between Countries .............. 6
2.1 Diagram: General Government Final Consumption Expenditure (% of GDP) ...... 6
2.2 Comparison and Explanation of Trends ............................................................... 7
2.2.1 Government Expenditure Trends in South Africa .............................................. 7
2.2.2 Government Expenditure Trends in Burundi ..................................................... 8
2.2.3 Comparative Analysis of Trends........................................................................ 8
QUESTION 3: Application of Chicago Economic Thinking ......................................... 9
3.1 Identification and Explanation of Recessionary Year(s) ....................................... 9
3.2 New Classical Macroeconomics (Mark I) Policy Response ................................ 10
The South African Reserve Bank (SARB) ................................................................ 12
Functioning of the SARB .......................................................................................... 12
Challenges Facing the SARB ................................................................................... 12
The National Treasury .............................................................................................. 13
Functioning of the National Treasury........................................................................ 13
Challenges Facing the National Treasury ................................................................ 13
References ............................................................................................................... 15
Educating the world for a better change
