1. A Revised Impact Report (~1100 words) • Improve on the ChatGPT Report in any

1. A Revised Impact Report (~1100 words)
• Improve on the ChatGPT Report in any way you see appropriate. This includes, but is not
limited to:
o Using two (2) to three (3) figures (diagram, graph, table) to illustrate and improve
the explanation of the ChatGDP Report. At least one of the figures must be an AD-AS
diagram with the x-axis labelled as “Real GDP of Sweden” and the y-axis labelled “Price
level of Sweden”. You must explain your figures.
o Adding statistics, citations and references to the Impact Report where appropriate.
(Note: In-text citations are included in the word count, but references are not.)
o Using the economic theories and concepts taught in ECON1020 to improve the
Impact Report. (Hint: Think about the AD-AS model, especially in the context of
demand and supply shocks.)
• Keep the structure of the three sub-sections (1a, 1b and 1c) and roughly follow the original
word limit instructions (400, 350, 350). This means that you will need to delete, condense
or rewrite some old material to make room for new material (such as the explanation of
your figures, added statistics and citations).
2. Reflection (~200 words)
a. What aspects of the ChatGPT Report do you think the AI did well and why?
b. What aspects of the ChatGPT Report do you think the AI did not do well and why?
c. Assuming that you become a professional economist after graduation, how can you
maintain your employability in a world where people with no background in economics can
easily produce economic analysis using AI software?