Task 5 (15 marks, approx. 400 words) Read the FT article by Kana Inagaki published on 15th November 2023 and entitled "Japan's economy contracts as weak consumption undercuts recovery" (a copy

of the article is available on Moodle as well). Briefly summarise the article's main points and use the IS/LM and/or AD/AS models to explain and investigate the business cycle in Japan. In particular, in your analysis you can consider addressing, among others, a number of issues such as: • What are the main reasons for the economic slowdown and what are the GDP components that are mostly contributing to such a slowdown. • Is the government planning to support the economy and, if so, how? • The Bank of Japan is planning to bring to an end "years of ultra-loose" monetary policy. What does this mean and why is the Central Bank concerned about the government fiscal policy? What is the relationship between the Yen and the current and the planned monetary policy? You are not expected to produce a 'perfect' or 'professional analysis but, rather, to show an awareness of how the issues and theories discussed in the module can help us understand current events. You do not have to answer each individual question but, rather, write a short piece that summarises the article by considering the questions above as a broad guideline to structure your analysis.