Select a research topic on an economic issue. Consult with your instructor to discuss your ideas.
Conduct research on your topic using at least three sources.
Write a Research Paper with a Body length of 2-3 pages using APA style.
Double-space your Research Paper.
Include a Title Page, an Abstract with Key Words, a Body, and References.
In the Body of your Research Paper, begin with an Introductory Paragraph and end with a Concluding Paragraph.
Consider using the Writing Lab to provide assistance with editing your paper.
Your paper will be checked for plagiarism using SafeAssign. Plagiarized papers, whether intentional or simply due to ignorance will receive a total grade of zero. Read the following information on plagiarism.
Begin this assignment by following these steps in the research process:
Select a topic.
Look for reference materials that address the topic from a wide variety of sources.
Focus on one particular question inside your topic to address in your paper.
Develop your thesis based on your reading and your analysis.
Make sure you have a strong thesis. Can you answer “yes” to these questions about your thesis?
Does the thesis respond to the prompt or address my research question?
Could someone disagree with this thesis?
Is the thesis derived from considering a wide variety of sources and statistics?
When you have a strong thesis and good information from research begin writing a rough draft of your paper. Make sure to include the following components:
Title Page
Abstract with Key Words
The Body of Your Paper including an Introduction and Conclusion
References
Discuss the Fiscal Policies of Presidents G.W. Bush Jr. and B. Obama. First, introduce the historical context of the Bail Outs, then present/describe their similarities and differences. Finally, draw your conclusions of their effectiveness or lack thereof: this is the paragraph in which students will explore their own criticisms of those policies and their relevance to their own life.
Discuss the bail-outs put forth in an attempt to end the Great Recession of 2008. Present their advantages and disadvantages in the short and long-term. How relevant have they been in your own life?
What is the Quantitative Easing of Money? What is its purpose? What are its limitations. What are some historical instances when you saw the relevance of this theory in your life?
Define monetary policy. Explain the 3 monetary policy tools and the economic context in which each tool ought to be used. Demonstrate how each monetary tool is to be used under high unemployment cases versus when inflation is the biggest threat in the economy. Explain the psychology behind using each of the 3 monetary tools when it is known that the economy is in recession versus when the economy is not thought to be in a recession.
Explain the demand-side policies implemented through the 2 fiscal tools and the 3 monetary instruments. Explain the circumstances by which the demand-side policies are effective. Explain the demand-side policies limitations and the consequences of using them incorrectly (their relevance in your economic/financial life). Use historical examples of when supply-side policies were put into effect.
Explain the supply-side policies implemented through the 2 fiscal tools and the 3 monetary instruments. Explain the circumstances by which the supply-side policies are effective. Explain the supply-side policies limitations and the consequences of using them incorrectly (their relevance in your economic/financial life). Use historical examples of when supply-side policies were put into effect.
Explain the phenomenon of globalization. Explain its benefits and its drawbacks. Explain how globalization impacts you individually and thus how it is relevant to you.
Explain why the Great Recession of 2008 was more than the natural phenomenon of trough in a business cycle. What made the trough of the business cycle turn out to be a Great Recession? Explain what you have learned from the Great Recession of 2008 and how relevant such an information is to you.
Discuss the following statement: “More than 70% of the US economy is service-oriented while the US manufacturing has shrunk 60% since just 1970. Today only 1 in 10 Americans works in a manufacturing job. The US does not make, we take.” In your discussion, describe the relevance of the content of such a statement into your life. (Quote from Fitz-Gerald, Keith. The Rise of Financial Terrorism: How to protect your wealth and prosper despite it all. 2011)
Suppose that the aggregate demand continuously increases (shifts to the right graphically, which is a reasonable assumption since our world population, to include that of the US, continuously increases) while technological advances allow mass production causing the long-run aggregate supply to increase (shifts out) even FASTER. Analyze the different possible consequences and scenarios on prices and unemployment in the long-run. Explore the relevance of these scenarios unto your personal life.
When the economy is at full-employment (all plants are working 3 shifts of 8 hours a day for 365 days in a year), it can only grow further through technological advances and accumulation of capital. Thinking about the “creative destruction” process of capitalism, explain how education is a requirement for technological advances to lead us to growth without raising the natural rate of unemployment in the long-run. Keep in mind that the labor market is hybrid in the sense that it is comprised of skilled and unskilled workers who are affected differently by the incorporation of the technological advances unto the work place. Explore the relevance of such a scenario in your personal life and in your job search.
Since the 1980s, globalization has taken the world by storm: analyze how globalization affects the idea that education might be a requirement for technological advances to lead us to growth without raising the natural rate of unemployment in the long-run. In your opinion, does globalization improve the job prospects of the US educated workforce or does it threaten them?
Discuss the use of deficit spending to respond to economic downturns. Evaluate the long-term consequences of deficit spending. Is our total deficit too high? Is this the right time in the business cycle to decrease spending? How might the deficit affect your future?
As a response to structural unemployment due to AI (artificial intelligence), Democratic Presidential candidate Andrew Yang proposes “the Freedom Dividend,” a universal income of $1000/month per citizen. What do you think of this proposal? Consider any of the following in your answer: Unemployment, aggregate demand, economic growth, structural unemployment, labor force participation rate, opportunity cost, the federal deficit, business start-ups, and/or unintended consequences.
Chapter 25 (section 25-2) in your textbook discusses productivity and the challenges faced by governments as they seek to raise living standards. Obviously, there are areas of disagreement and areas of potential improvement. If you were polled, what policy would you suggest to improve U.S. living standards?
What lingering effects from the Great Recession do you find in either news stories or in your own community? As hindsight is 20/20, what active stabilization policies (if any) should have been enacted to respond to the financial crisis? What should be changed to prevent future financial crises? Chapter 33 (section 33-5a).
Should the government fight recessions with spending hikes rather than tax cuts?
Should monetary policy be made by rule or by discretion? 4) Should the central bank aim for zero inflation?
Should the government balance the budget?
Should the tax laws be reformed to encourage saving?
Explain the opportunity cost of not providing excellent early education FROM A MACROECONOMIC perspective which goals are to provide economic growth to the NATION, lower unemployment rate, and stabilize the inflation rate. In your explanation define opportunity cost and explain the external benefits that result from educating someone else’s children.
Create your own research topic based on your own interests. You can start by looking in newspapers or business journals about current issues in the macro economy. Focus on topics with a clear macroeconomic application such as: opportunity costs, scarcity, unintended consequences, supply and demand issues, and fiscal or monetary policy applications. When you start looking for macro paper topics, you’ll find they are everywhere!
