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INSTRUCTIONS:  In this project, you will demonstrate your skill in analyzing a legal issue and explaining that analysis in a legal memorandum. Your memo will use the listed cases and facts.  The memo must follow the IRAC format (SEE SAMPLE IRAC MEMO ATTACHED). For the given issue, you will explain the relevant law from the cases, apply that law to the facts, and set out a reasoned conclusion.

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Econ 204 10 points Vamsi V. Assignment 3 I. Philips Curve 5 points Suppose that the Philips curve is given byπt = πet + 0.1 -2uta....
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