Title: Impact of fiscal and monetary policies on employment, income and price level.

a. Students can use macroeconomic models

. When do we

employ

expansionary monetary and fiscal policies? Evaluate impact of the expansionary

monetary and fiscal policies on the price level

, employment and GDP.

c. When do we employ contractionary monetary and fiscal policies? Evaluate impact of the contractionary

monetary and fiscal policies on

the price level, employment and GDP

.