1. Discuss how COVID-19, which is a health shock, translates into a real economic mixed aggregate demand and aggregate supply shock (sudden stop event) or problem. Highlight the key disturbances to households (employment, wages, consumption, savings, health, etc.) businesses (investments trade-inputs and outputs), Government (transfer payments, tax revenue) rest of the world (global supply chains, etc.).
2. Summarize the major fiscal and monetary policies (mixed policy in action) that are being deployed to stabilise the economy from the significant economic disturbance of the Coronavirus