Question

Now that you have analyzed both sides of fiscal and monetary policy, it’s time to create a debate for a television news show. Choose the information you compiled in either task 1 or task 2, and compose a script that meets these requirements:

Write 10 lines of dialogue each for two characters (20 dialogue lines in total). The dialogue must be economics related and relevant.
One character must take your viewpoint, and the other character must take the opposing viewpoint.
Script each character’s rationale for why the specific action they believe in should be taken.
Include each character’s main opposition to the opposing viewpoint.
Ensure that each character questions the other about points of perceived bias, with each character responding to the other’s question.

Answer 1

Character 1: The only way to keep our economy growing is through fiscal policy. Government investment in infrastructure, research and development would create new jobs in the long-term and stimulate economic growth now.

Character 2: We have to take a more responsible approach in managing our country's finances. We should focus on monetary policy to keep the money supply in check and to keep inflation under control.

Character 1: Expansionary fiscal policy is necessary in a time of recession, or else businesses and households will be unable to increase demand and the economy will suffer even more.

Character 2: But fiscal policy leads to higher government spending and higher taxes, which reduces consumer spending and negatively affects the economy in the long run.

Character 1: Governments can implement reforms to ensure any spending is temporary and does not lead to long-term debt.

Character 2: I agree that temporary fiscal policies make sense, but this could potentially lead to debt if not managed correctly.

Character 1: And what about your suggestion? Monetary policy can be just as damaging when it comes to the long run if it fails to act quickly enough.

Character 2: Yes, but I believe it is the safer option since it doesn't involve borrowing and accumulating debt which can cause a lot of economic issues down the road.