Part I: Description of the State of the U.S. Income Inequality
Describe the state of the U.S. Economy Income Inequality for the years between 2015 and 2016 in terms of microeconomic measures discussed in the course. Use census data (for Table 1. Income and Earnings Summary Measures by Selected Characteristics: 2015 and 2016Links to an external site. located at https://census.gov/data/tables/2017/demo/income-poverty/p60-259.htmlLinks to an external site.
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 income inequality in the US. Identify at least three policies implemented by the government to deal with income inequality in the US.
Evaluate the expected and actual effects of each policy. Your response needs to include the name of the policy, description of the policy, how it has been implemented, and discussion of expected and actual outcomes in terms of the income inequality data given above.
After close observation of the different perspectives discussed in the course, share your position on the effectiveness of the government policies to deal with income inequality in the country.
As part of the economy, each of us is 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 1000 – 1500 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. Organize your paper with the following subheadings:
Introduction
Description of the State of the U.S. Income Inequality between 2015 and 2016
Analysis of Economic Policies to address Income inequality
Personal Reflections and
Conclusion
You must use at least four credible sources (cited from academic journals – please use the library to extensively understand what an article from an academic journal is about) to support your ideas (avoid sites such as Wikipedia, Investopedia, EHow, yahoo answers, etc. You can contact me or a librarian if you are not sure about the credibility of a source).
