ENG1503 Assignment 2 Semester 2 2024 | Due 17 September 2024

Description

ENG1503 Assignment 2 Semester 2 2024 | Due 17 September 2024. Multiple Essays Provided.

Research-based essay

Read the extract below and answer the question that follows:

Text A

According to Lotto (2020), “…history tells us that financial institutions are quite myopic in their lending behavior—they will tend to be quite liberal with credit when the economic times are good, only to repent of their generosity and tighten lending standards when times turn bad. This ‘procyclicality’ in lending behavior can spell danger for over-leveraged borrowers and, by extension, for the financial institutions themselves, especially if the economic downturn is sharp or prolonged…”

Question 1

Using Text A as your starting point, do you think that incorporating financial literacy as a subject in schools will enable individuals to make better financial decisions? You have to take a stance and provide reasons for your stance.