The University of the South Pacific
School of Accounting, Finance and Economics
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EC201: INTERMEDIATE ECONOMICS
TOPIC: Introduction and Overview
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Tutorial 1
Question 1
The COVID-19 outbreak has affected individual economies and global economic growth through
various channels. Discuss how the component of GDP is affected (Y=C+I+G+(X-M). Backup your
answer using credible sources and datasets.
Question 2
Discuss the 4 major macroeconomic objectives and explain how each of them is impacted by the
recent COVID 19 outbreak. Discuss possible policies to salvage each objective.
Question 3
Discuss 3 major similarities and differences between the Global Financial Crisis and COVID 19
outbreak.
Question 4
Balance the National Accounting Matrix below using the following data. Hint: Compute Y first.
C = 680, YD = 920, G = 150, I = 160, TR = 50, X = 350, IM = 100
Producer Household Govt
Investors
Producer
Household
Govt.
Investors
ROW
Total
Question 5
Explain how GDP is measured: Method, rationalize and implications
ROW
Total