Explain why UK labour productivity has stagnated since 2008 while other G7 economies recovered.

Assess the likely impact of the Reeves Autumn Statement 2024 on UK economic growth.

To what extent does the UK have a permanent growth problem rather than a cyclical one?

Explain why UK CPI inflation rose from below 1% in 2020 to 11.1% in October 2022.

Assess the extent to which the UK faced a wage-price spiral during 2022 and 2023.

Explain how the Bank of England used Bank Rate to reduce inflation between 2021 and 2024, and assess how effective this was.

Explain why UK unemployment remained near historic lows during 2022 and 2023 despite near-zero GDP growth.

To what extent is structural unemployment the dominant form of unemployment facing the UK economy?

Assess how effectively the furlough scheme prevented unemployment during the Covid-19 pandemic.

Explain the transmission mechanism through which Bank Rate increases reduce inflation.

To what extent do the costs of raising interest rates to control inflation outweigh the benefits?

Explain why rising nominal Bank Rate did not mean tight monetary conditions for most of 2022.

Explain how sterling depreciation since 2014 has affected UK international competitiveness.

To what extent was the Brexit referendum the main cause of sterling's depreciation since 2016?

Explain the transmission from sterling depreciation to domestic inflation, with reference to 2021 to 2023.

Explain why the UK runs a persistent current account deficit.

Assess whether currency depreciation can improve the UK current account balance.

To what extent have non-tariff barriers reduced UK goods exports to the EU since Brexit?

Explain how quantitative easing works and assess why it did not produce sustained inflation before 2021.

Assess the risks and challenges of quantitative tightening in the UK from 2022 to 2024.

Explain how the Bank of England used forward guidance from 2013 and assess why its credibility collapsed within six months.

Explain the zero lower bound problem and assess what tools remain available when conventional monetary policy is exhausted.

Explain how the fiscal multiplier affects the output cost of austerity and assess whether the pace of consolidation after 2010 was justified.

Explain how automatic stabilisers work and assess how effective they were in 2008 and 2020.

Explain why governments adopt fiscal rules and assess whether the UK's frequent rule changes have undermined their purpose.

Assess the empirical evidence for crowding out in the UK, with reference to the 2010s and 2022 to 2024.

Compare market-based and interventionist supply-side policies and assess their effectiveness in raising UK productive capacity since 2010.

Assess whether greater labour market flexibility has improved UK economic outcomes or mainly transferred risk to workers.

Explain the link between public infrastructure investment and productive potential, and assess why chronic underinvestment has persisted.

Explain what the Gini coefficient measures and assess whether UK income distribution has become more or less equal since 1980.

Explain why wage growth has been unequal across the income distribution since 2010 and assess which factors were most important.

Assess the effectiveness of the UK tax and benefit system in reducing income inequality.

Explain how commercial banks create money through lending and assess the implications for financial stability.

Explain systemic risk and contagion and assess the role of moral hazard in creating the conditions for the 2008 financial crisis.

Explain macroprudential regulation and assess whether the post-2008 framework has made the UK financial system more resilient.

Use the AD-AS model to analyse the demand collapse of 2020 and explain why the recovery was faster than forecast.

Use the AD-AS model to illustrate stagflation and assess the policy dilemma it creates.

Explain the concept of the output gap and assess how reliable OBR output gap estimates are as a guide to policy.