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Assignment 1/ ☑ Assignment 2
Program / Intake : Bachelor of Business Studies Intake 51
Pathway: LSCM
Student Name: LI XUEJIAO Student Number: 16212043
Module: Economic Policy and the Global
Lecturer/Tutor: Mr Rodney Sim Grade:
DECLARATION: I hereby declare that the attached assignment is my own work. I understand that if I am
suspected of plagiarism or another form of cheating, my work will be referred to the Academic Registrar/ or
the Board of Examiners, which may result in me being expelled from the program.
Signed: ________LI XUEJIAO___ Date Submitted:____23/June/2017________________
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Student Name: ___________________________Student Number: ___________________________
Program / Intake: _________________________________
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barcode
National University of Ireland, Dublin
Bachelor of Business Studies (LSCM)
Intake 51
Group: (C)
Module:
Economic Policy and the Global
Essay Title:
Macroeconomic and #scal challenges faced by Japan
submitted by:
LI XUEJIAO
Student Number:
16212043
Lecturer:
Mr Rodney Sim
Submission Date:
23/June/2017
Word Count:
2274
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Table of Contents
1. Introduction……………………………………………………………………………………………………4
2. Three Key macroeconomic challenges faced by Japan- reasons & impacts on society and
economy……………………………………………………………………………………………………………….4
2.1 New round of economic sluggish is continuing……………………………………………………………..4
2.2 Balance-sheet recession………………………………………………………………………………………………6
2.3 Aging of population……………………………………………………………………………………………………7
3. Japan’s three arrows of Abenomics……………………………………………………………………9
3.1 Monetary easing…………………………………………………………………………………………………………9
3.2 Fiscal stimulus……………………………………………………………………………………………………………9
3.3 Structural reform………………………………………………………………………………………………………..9
4. How Abenomics affects to Japanese economy…………………………………………………….9
4.1 Increase real GDP by increase aggregate demand………………………………………………………..10
4.2 Increase aggregate expenditure by increase household’s expenditure, firm’s investment, government
spending and net export………………………………………………………………………………………………….11
4.3 Increase the supply of money………………………………………………………………………………….13
5. Conclusion……………………………………………………………………………………………………14
6. Reference……………………………………………………………………………………………………..15
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1. Introduction
Since Japan’s bubble economy peaked in 1989, the Japanese economy has struggled,
with only a few periods of brief respite, with deflation, the stagnation or decline of prices
of assets and many goods.
At the end of 2012, Japan’s prime minister, shinzo Abe launched an ambitious economic
policy that aimed at reversing the situation which Japan being stuck in a two-decade
recession. It was dubbed “Abenomics”.There are three main economic strategies:
monetary easing, fiscal stimulus and structural reform. It also called “Abe’s three
arrows”. From the news that Japan seems is very difficult to get its economy growing.
Especially in the end of 2015, the GDP data showed Japan falling into recession again.
Uneven performance for japan economics means Abe’s plan is doing little in practice. In
the following essay I will explore the key macroeconomic challenges which Japan faced;
the causes of the economic recession in Japan and the impacts on society and
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