Economics 102
Assignment 5
Due March 28, 2022
In trying to decide how to address the effects of COVID-19 on the economy, policy makers turned to the experience of the recent Great Recession as well as to the Great Depression for insights. In a blog in the spring of 2021 (link below), Gita Gopinath, then chief economist at the International Monetary Fund (IMF), drew several comparisons.
A difference between the Great Recession and COVID-19 recession is the development of inflation. In this writing assignment of 500 words, we would like you to discuss the different inflation experiences between the two recessions.
In your essay use the following four sources, where the first source is a more general comparison and the other three are focused on inflation. Make sure to discuss whether current inflation is a result of government policies or something else. You don?t have to, but if you use sources in addition to these four, make sure to cite using the (author, year) method and mention them in a literature list at the end.
1.https://blogs.imf.org/2020/04/14/the-great-lockdown-worst-economic- downturn-since-the-great-depression/
2.https://blogs.imf.org/2021/12/03/addressing-inflation-pressures-amid-an- enduring-pandemic/
3.https://blogs.imf.org/2021/10/06/inflation-scares-in-an-uncharted- recovery/
4.https://www.nytimes.com/2022/01/04/opinion/inflation-federal- reserve.html
For the submission: Your review is limited to 500 words and is due March 28, 2022. Put the word count at the bottom of the essay. The assignment should be written in one document and submitted in two ways: through the Crowdmark link that was sent to the student AND through Quercus assignments for the plagiarism check. The document has to be in a .pdf or .jpeg format to be submitted; thus if it is written in Word, please convert it into one of these two formats.
