4.2 Discussion: Federal Reserve Tools
Getting Started
The adjustment in the supply of money is one of the tools used by the Federal Reserve to influence the economy by influencing interest rates. This assignment covers the mechanics of the money supply and how it influences interest rates. A thorough understanding of this concept will help you better understand how Federal Reserve policies may impact your business or organization.
Upon successful completion of this discussion, you will be able to:
Evaluate the tools the Federal Reserve uses to change the money supply and interest rates.
Resources
Text: Economics for Managers
Media: Federal Reserve
Background Information
In order to fully understand this assignment you must understand the functions of money 1) as a medium of exchange, 2) as a unit of account, and 3) as a store of value. Pages 362–363 in the textbook provide a definition and example of each of these functions for money and the ways the Federal Reserve measures the money supply.
Instructions
Review the rubric to make sure you understand the criteria for earning your grade.
As you read Federal Reserve focus on the three tools that the Federal Reserve uses to change the money supply and interest rates in the economy.
Navigate to the threaded discussion and respond to the following:
Write an explanation of the three tools that the Federal Reserve uses to change the money supply and interest rates in the economy.
Your audience should be considered an intelligent but uninformed citizen of the United States.
Be sure to explain why each tool works the way it does.
Defend your explanation with a detailed evaluation that demonstrates clear, insightful critical thinking.
Which of these tools is the most important and why? Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.
Now conduct a critical analysis of a posting by two of your classmates by the end of the workshop.
The topic of your discussion response should be your classmate’s posting and should be written as if you were reviewing his/her posting in an academic journal. Your discussion response should, therefore, answer the following questions as applicable:
Were your classmate’s arguments articulate and logical? Were the facts correct?
Was the interpretation your classmate provided reasonable and consistent with experts in the field? Was your classmate consistent with both the substance and intent of his/her references?
The focus for your critical analysis is not whether or not you agree with your classmate, but how well his/her position was presented. Each response should be at least 200 words in length and cite two academic sources. Please strive to make your discussion responses ones that cause iron to sharpen iron.
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4.3 Discussion: Saying vs. Doing
Getting Started
In this assignment you will look at the role of the Federal Open Market Committee in establishing monetary policy and what impact a change of monetary policy has on the economy and your organization.
Upon successful completion of this discussion, you will be able to:
Assess the latest actions by the Federal Open Market Committee regarding monetary policy.
Resources
Text: Economics for Managers
Website: Federal Reserve Policy Dealing with the Pandemic
Background Information
The Federal Open Market Committee (FOMC) has the chief responsibility for directing monetary policy. The FOMC has 12 members: the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four other Federal Reserve Bank presidents who serve one-year terms on a rotating basis. The remaining district bank presidents participate in the FOMC meetings, which are held eight times a year in Washington, DC, but do not vote on policy decisions (Farnham, 2014, p. 367).
Instructions
Review the rubric to make sure you understand the criteria for earning your grade.
Read the following information from the Federal Reserve pertaining to the Federal Open Market Committee (FOMC) and monetary policy implementation as “the Fed” attempts to address the weakness in the economy spawned by the Coronavirus pandemic: Federal Reserve Policy Dealing with the Pandemic https://www.federalreserve.gov/monetarypolicy/2020-06-mpr-summary.htm
Navigate to the threaded discussion and respond to the following:
Evaluate the following statement: What the FOMC says is becoming as important as what it does regarding monetary policy implementation during the pandemic. Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
Given the present economic condition and trends, evaluate how effective the Fed is at promoting economic stability. Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
Your initial response should be 400 to 600 words in length, include two academic sources that are properly cited, and is due by the end of the fourth day of the workshop.
Now conduct a critical analysis of a posting by two of your classmates by the end of the workshop. The topic of your discussion response should be your classmates posting and should be written as if you were reviewing his/her posting in an academic journal. Your discussion response should, therefore, answer the following questions as applicable:
Were your classmates arguments articulate and logical? Were the facts correct?
Was the interpretation your classmate provided reasonable and consistent with experts in the field? Was your classmate consistent with both the substance and intent of his/her references?
The focus for your critical analysis is not whether or not you agree with your classmate, but how well his/her position was presented. Each response should be at least 200 words in length and cite two academic sources. Please strive to make your discussion responses ones that cause iron to sharpen iron.
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4.4 Assignment: The Aggregate Model and Fiscal/Monetary Policy
Getting Started
This assignment brings together and integrates the variables and relationships needed by managers in order for them to understand the determination of income, output, interest rates, and price level in the aggregate demand/aggregate supply model of the economy.
Upon successful completion of this assignment, you will be able to:
Analyze changes in fiscal and monetary policies.
Resources
Textbook: Economics for Managers
Background Information
In the previous workshops the focus was spent on real goods and services by individuals, firms, and governments and the influence of money and Federal Reserve monetary policy on the economy. The assumption was made that prices were constant. In real-world economics, price level changes and inflation can be a serious policy problem. Previous workshops also focused on the demand side of the economy. This assignment will add in the supply side to develop the full model of aggregate demand and supply to address these problems. This will aid you as a manager in analyzing the entire range of macroeconomic factors that influence firms and industries.
Instructions
Review the rubric to make sure you understand the criteria for earning your grade.
Read Chapter 14, “The Aggregate Model of the Macro Economy,” in Economics for Managers.
Find two or more recent articles (post April 2020) in the Wall Street Journal or other business publications that describe changes in fiscal policy during the global pandemic.
Write a five- to six-page paper answering the following regarding fiscal policy changes that have been initiated to address the economic weakness brought on by the Coronavirus pandemic:
Describe policies that could stimulate the economy? Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
How do these policies relate to the model of aggregate demand and aggregate supply? Provide a detailed evaluation that demonstrates clear, insightful critical thinking.
How likely are these policies to be effective in stimulating the economy, given the pervasive weakness brought on by the global pandemic? Provide a detailed evaluation that demonstrates clear, insightful critical thinking.
You must use a minimum of five sources for your research paper, at least three of which are scholarly.
Use proper spelling, grammar, and APA formatting for your analysis paper.
When you have completed your assignment, save a copy for yourself and submit a copy to your instructor.
*You may notice a second rubric in the submission folder. For more information, please watch this short Key Assessment notification video or select here to view the transcript.
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4.1 Assignment: Reading and Remediation
Getting Started
Viewing the videos and practicing using the practice Excel file with its video can prepare you for the work needed on the research report for a data set.
In order to successfully complete this exercise, you should be able to:
Review videos about statistics fundamentals.
Practice with the Excel file provided.
Resources
Video: Hypothesis Testing
Video: Hypothesis Testing with Means
Video: T-Tests
Video: Independent T-Tests
Video: Excel video on Hypothesis Testing
Textbook: OpenIntro Statistics
File: WS4Practice
File: WS4Homework
Background Information
Providing background and descriptive statistics is like a literature review section of a dissertation. You review and communicate the analysis of the raw data. You present visual representations of the data to give meaning to the raw data.
Instructions
Watch the following videos on hypothesis testing, hypothesis testing with means, t-tests, and independent t-ests:
Watch the Excel remediation video, Hypothesis Testing.
An optional supplementary textbook is the OpenIntro Statistics, and you can read the concepts there.
Use the lab file WS4Practice to practice the Excel skills (includes an Excel hands-on video inside the spreadsheet as a link).
Use the file WS4Homework to demonstrate the Excel skills. Each of the six problems is worth 10 points, for a total of 60 points possible for this assignment.
When you have completed your assignment, save a copy for yourself and submit a copy to your instructor by the end of the workshop.
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4.4 Assignment: Create Hypothesis
Getting Started
After the prior activities, the analysis section can be written for the research report. Since there are three analyses to perform, this is a partial assignment for the analysis section.
In order to successfully complete this assignment, you should be able to:
Write part of the analysis section for the data set.
Resources
File: Research Report Patients
Your most recent research report
Background Information
This is one of the more detailed assignments in this course. You will write your second analysis for the report.
Instructions
Study the Research Report Patients file.
In your report, fill out the second analysis section, including any statistics, graphs, and interpretation of the analysis.
When you have completed your assignment, save copies for yourself and submit a copy of the research report to your instructor by the end of the workshop.
