1. Collect data on broad money growth (annual%) and inflation rate, consumer prices (annual %) in Norway from 1990-now, and Identify the highest and the lowest inflation rate periods. Discuss 2-3 key reasons that caused the increase/decrease in inflation rate in each period. Identify how money growth fluctuates around these two key timing.

2. Collect data on real GDP, GDP growth, unemployment, and inflation during the 2007-2023 period (for 2023, please find some forecast data) for Norway

a) provide some comments on the following key periods: the pandemic (2020-2021), 2022- now.

b) Identify and analyze the fiscal policy which were applied after the pandemic (2022-now)

i. Find key data to related fiscal policy (debt/GDP, size of budget deficit/surplus, budget deficit/GDP, the importance of general government expenditure in GDP (measured as % of the GDP) and key changes in tax (type of tax and tax rates), government purchase and transfer payment from 2019 until now

ii. Based on the above data, identify changes in the fiscal policy after the pandemic until now (compared to 2020-2021).

- What is the overriding objective of fiscal policy in the post-pandemic period? What are key tools that the government has used?? How are they different from the pandemic period? - Draw an AS-AD diagram, illustrating external shock on the economy and policy response in the post-pandemic period - Clearly show how output, unemployment, and inflation change as suggested by your diagram, and verify if this fits with your actual data in 2a. You may use quarterly/monthly data if needed.

c) Discuss the main obstacles to the implementation and challenges ahead for fiscal policies in the post-pandemic for Norway