THE BMZ ACADEMY
THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 17
, THE BMZ ACADEMY
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A FRAMEWORK, NO ONE SHOULD SUBMIT IT FOR FINAL
ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES
********************************************************************************************
AT BMZ Academy, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
BMZ ACADEMY 061 262 1185/068 053 8213
, THE BMZ ACADEMY
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
BMZ ACADEMY 061 262 1185/068 053 8213
THE BMZ ACADEMY
053 8213
BMZ ACADEMY 061 262 1185/068 053 8213Page 1 of 17
, THE BMZ ACADEMY
IMPORTANT NOTES TO CONSIDER
THIS IS ONLY A FRAMEWORK, NO ONE SHOULD SUBMIT IT FOR FINAL
ASSESSMENT.
STUDENTS SHOULD COMPLETE THEIR OWN ASSIGNMENT, BUT KEEP IN MIND
THE RULES/INSTRUCTIONS
AS A TIP, IF YOU FIND THIS GUIDE USEFUL, YOU CAN CALL/WHATASPP US IF
YOU WANT A UNIQUE AND CUSTOMISED SOLUTION, SOMETHING THAT WE
GIVE YOU ALONE AND NOT SHARED WITH OTHER PEOPLE NOR SOLD ON
STUVIA AND OTHER ONLINE SITES
********************************************************************************************
AT BMZ Academy, WE WISH YOU THE BEST IN ALL YOUR STUDIES.
WE ARE YOUR MATES TO PASSING EXCELLENTLY IN ALL YOUR STUDIES.
DO NOT FORGET TO REACH OUT TO US FOR ANY FURTHER AND OTHER
ASSISTANCE!
GOOD LUCKY
BMZ ACADEMY 061 262 1185/068 053 8213
, THE BMZ ACADEMY
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
BMZ ACADEMY 061 262 1185/068 053 8213
