Part I: Description of the State of the U.S. Economy
- Describe the state of the U.S. Economy for the years between 2006 and now
in terms of macroeconomic measures discussed in the course (GDP,
unemployment, and inflation rates). Use data from the National Bureau of
Economic Research (NBER), http://www.recovery.gov,
and other government agencies and departments, such as Department of
Labor (Bureau of Labor Statistics), Department of Commerce (Bureau of
Economic Analysis), etc. and present the data in charts, graphs, or
tables. - As
you will notice from your data analysis, the economy passes through
different phases and turns. Discuss the implications of a given state
(for example, recession) in terms households, businesses, and the entire
society as a whole. Share your thoughts as to why it is important for
you to understand the different states through which the economy passes.
Share personal examples and experiences.
Part II: Analysis of Economic Policies
- In
your analysis of the macroeconomic data, you will notice that the U.S.
economy passed through a major recession. Based on research, discuss the
underlying causes of the recession. Identify monetary and fiscal
policies implemented by the Federal Reserve and the government to deal
with the recession. - Evaluate
the expected and actual effects of each policy. Your response needs to
include the name of the policy, description of the policy, the year it
is implemented, and discussion of expected and actual outcomes in terms
of the GDP, unemployment and inflation rates. - After
close observation of the different perspectives discussed in the
course, share your position on the effectiveness of fiscal and monetary
policies to deal with recession or inflation.
- As
part of the economy, each of us will be affected by the state of the
economy and the actions policy makers take to stabilize or advance it.
Conclude by sharing why understanding these actions and outcomes matter
to you as an individual who is part of the economic system. How do they
affect the society/economy? What could be done differently? Share
personal examples and experiences
General Guidelines
- The
paper must be 850 – 1000 words long, typewritten, double-spaced, with
1” margins and 12pt. Times New Roman font. The paper must be written in
essay format, using standard written English with a clear introduction
and conclusion.
You must use at least four
credible sources coming from academic journal articles (you will need
to visit the library to know what a journal article looks like and where
it can be retrieved – most journal articles come from databases e.g.:
EBSCO host or Academic Search Premier etc.) to support your ideas (avoid sites such as Wikipedia, Investopedia, EHow,
yahoo answers, etc. – I do not expect websites in your work cited
list). You can contact a librarian or me if you are not sure about the
credibility a source)
- You
must use APA-formatted in-text citations (It is important that you
identify all items directly copied or paraphrased from other sources by
including the source each time you cite or paraphrased other people’s
work. Read TCCD’s policy on plagiarism)
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