1a-) Describe the Philllips curve.
1b-) Explain the trade-off involved in the Philllips curve.
1c-) Suppose that you are the central bank president and have a perfect control over
inflation. Discuss how your monetary policy decisions would affect different group of people
in the context of the Philllips curve.
1d-) Given your answers above, define the ethical problem the central bank president faces.
1e-) List different stakeholders in the monetary policy decision mentioned above.
1f-) From a utilitarian perspective, describe how the monetary policy decision discussed
above is not unethical (i.e. why it does not violate any ethical principle).
2a-) Read the article named “Post-Virus Reopening Is More About Ethics than Science” and
provide a short summary in a few sentences.
2b-) What is the ethical issue raised in the article? What are the alternative decisions to be
made?
2c-) Discuss the potential consequences of different decisions in this issue.
2d-) Discuss why applying a utilitarian ethics perspective is problematic in this context.