Economic Policy and Economic Evaluation of the United Kingdom 2005 - 2015

Seminar paper from the year 2016 in the subject Economics - Case Scenarios grade: 1.0 EBC University Düsseldorf course: Economic Policy language: English abstract: In a globalizing world with increasing international trade and growing markets as well as crisis influencing countries worldwide it becomes ever more important to evaluate and compare the economic performance of different nations as well as their impacts on each other.One method that allows assessing a country's macroeconomic performance is the magic square according to Kaldor (1971). This approach takes four variables into consideration which should be pursued amongst an economy:1. Sustainable growth2. Equilibrium of balance of payments3. Price stability4. High employment. In the following paper the economic progress of the United Kingdom within the previous 10 years should be evaluated using the magic square as a framework. Therefore there will be the main focus on the most relevant macroeconomic indicators such as the growth of GDP inflation rate unemployment rate and current account balance in order to provide a sound overview regarding UK's overall economic development.