THE ECONOMIC INSTITUTIONS OF THE CONSTRUCTION INDUSTRY

ALTERNATIVE ASSESSMENT 2019/20
BCPM0002: THE ECONOMIC INSTITUTIONS OF THE CONSTRUCTION INDUSTRY
Assignment brief:
In the first months of 2020 governments of most developed economies announced fiscal stimulus
packages and their national banks support this with changes in monetary policy to reduce the impact
of the incoming recession. This is also the case for the UK. Your assignment is to address the following
points:
a) Describe the monetary and fiscal policy response to changes in economic conditions in the UK
(until the end of March 2020). [20 marks] b) Describe the impact each of those measures will have (according to current macroeconomic
models covered in lectures) on:
i) government spending,
ii) household consumption,
iii) firm investment,
iv) inflation
You are not required to use real data for but should illustrate your answers with graphs and
figures. [40 marks] c) Discuss the impact the monetary and fiscal policy change will have on the construction sector
and industry in the next 1-2 years. [20 marks] d) Discuss what impact low interest rates will have on demand for office space in London in the
next 1-2 years. [20 marks] Submission details:
The word limit for this assignment is 3,000 words.
The first page of your assignment should be a copy of the assignment cover sheet with the declaration
of originality page to follow afterwards. Please enter the module code and module title onto the cover
sheet. Please DO NOT put your name or student number/candidate number on the assignment cover
sheet/declaration page or anywhere on the electronic copy of your assignment. Please do not sign
the declaration page.
Your attention is drawn to the UCL guidance on referencing, citations and plagiarism. Please
familiarise yourself with this guidance before submitting your work.
Please see Section 13.2 of the MSc Programme Handbook 2019-20 for details of penalties which apply
when students submit work late. An electronic copy of the MSc Programme Handbook 2019-20 is
available on the MSc CEM programme homepage on Moodle.