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Principles of Economics

Executive Summary of The Great Lockdown Macroeconomic Impact

The world has never in decades have ever faced this kind of scenario where all most all the economies will suddenly suffer such a hit, which was never predicted by and economist or astrologer. This is report will address the impact of the unprecedented crisis of COVID 19 Pandemic in the economics of New Zealand. It will be explain the impact with the models like AS-AD model. Report will list down the reforms and other measures taken by the New Zealand Government to revive the economies slow down.

Table of content

Executive Summary

The Economy Before Pandemic

The Impacts of the COVID-19 Shocks

The policy Response

Beyond the Pandemic

References

The Economy Before the Pandemic

The open economy of New Zealand is based on the principles of free market. The service and manufacturing sec....