Teaching the Economic Impact of COVID-19 with a Simple Short-run Macro-model: Simultaneous Supply and Demand Shocks

This short note has one main ambition. It seeks to provide students with a very simple macroeconomic framework deal the short-term economic impact of COVID-19 pandemic. The explanation for unprecedented magnitude recession over span time is be found in peculiar form shock due various lockdowns. Indeed, 2020 crisis specific that it involved two recessive shocks simultaneously: demand superimposed on supply shock. model original although driven by capable dealing issues without entailing any additional technical difficulties.