ECO 372 Complete Course

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  • ECO 372 Complete Course
  • ECO 372 Complete Course
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ECO 372 Complete Course

Week 1

Discussion Questions

Why is economics considered a social science? What role does economics play in your personal and professional lives?

What is the difference between real and nominal GDP? Does GDP accurately reflect the nations welfare? Why or why not? How can a countrys GDP be manipulated? In your opinion, is the U.S. GDP being manipulated? Explain your answer.

What are the different types of unemployment? How do they affect the economy in terms of growth, labor force, and price of labor? Cite specific examples to support your response.

Identify economic factors that affect the real GDP, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?

Week 2

Individual Fundamentals of Macroeconomics Paper

Resource: Figure 3-1 in Ch. 3 of Macroeconomics.

Part 1

Describe the following terms in your word.

Gross domestic product (GDP)

Real GDP

Nominal GDP

Unemployment rate

Inflation rate

Interest rate

Part 2

Consider the following examples of economic activities:

Purchasing of groceries

Massive layoff of employees

Decrease in taxes

Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.

Write a 700- to 1,500-word paper summarizing the results.

Learning Team Weekly Reflection - Economic Forecasting Paper

Develop a list of resources you might use to gather historical economic data as well as economic forecast data.

Explain how and why each source is valuable and useful.

Identify any quantitative or qualitative forecasting factors contained in the sources.

Discuss this weeks objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.

Write a 350- to 1,050-word paper that details your team's findings.

Discussion Questions

Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why?

Why do Keynesian economists believe market forces do not automatically adjust for unemployment and inflation? What is their solution for stabilizing economic fluctuations? Why do they believe changes in government spending affect the economy differently than changes in income taxes?

In your opinion, which two determinates currently have the greatest impact on aggregate demand and supply? Justify your response with an example.

What is the difference between contractionary and expansionary fiscal policies? Which is more appropriate today? Explain your answer. How might contractionary and expansionary fiscal policies affect your organization?

Week 3

Learning Team Aggregate Demand and Supply Models

For this assignment, you will choose from the following options:

Option 1: Economic Advisement Paper

Option 2: Economic Critique

Read the instructions in the University of Phoenix Material: Aggregate Demand and Supply Models located on the student website and select one option to complete the assignment.

Learning Team Weekly Reflection

Discuss this weeks objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.

Write a 350- to 1,050- word paper detailing the findings of your discussion.

Discussion Questions

What are the uses of money? How do commercial banks and Federal banks create money? Is monetary policy conducted independently in the United States? Explain your answer. Is it important for monetary policy to remain independent from all parties? Why or why not?

What is the difference between contractionary and expansionary monetary policy? What is the intention of each policy under a depression, recession, or robust economy? Which type of monetary policy is more appropriate today and why?

What happens to the money supply, interest rates, and the economy if the Federal Reserve is a net seller of government bonds? What happens to the money supply, interest rates, and the economy if the Federal Reserve is a net buyer of government bonds. Why would the government implement a stimulus program into the economy?

Rank the factors that contribute to the discount interest rate from most important to least important. Justify your rankings.

Week 4

Individual Federal Reserve Presentation

Your boss has chosen you to give a presentation to a number of foreign officials regarding the United States Federal Reserve System. These officials are very interested in doing business in the United States, but they would like to learn more about the Federal Reserve and how it operates.

Develop a 10- to 15-slide Microsoft PowerPoint presentation.

Address the following questions and include a notes page which contains the write-up portion to each question:

What are the factors that would influence the Federal Reserve in adjusting the discount rate?

How does the discount rate affect the decisions of banks in setting their specific interest rates?

How does monetary policy aim to avoid inflation?

How does monetary policy control the money supply?

How does a stimulus program (through the money multiplier) affect the money supply?

Currently, what indictors are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?

Discussion Questions

How does a government budget deficit affect the economy? Identify two periods in recent history in which the United States has run budget deficits. What were the reasons for the deficits during those time periods?

How does a government budget surplus affect the U.S. economy? Identify two periods in recent history in which the United States has run budget surpluses. What were the reasons for the surpluses during those time periods?

What are the potential consequences of a country having a large overall debt? If you were in the position to implement a solution for the countrys long-term debt, what would it be and why?

What are the positive and negative aspects of budget deficits and surpluses? What policy is best for todays economy? Explain your answer.

Week 5

Individual Final Examination

Individual International Trade and Finance Speech

Assume that you have been appointed as the Speaker of the House. You must deliver a speech about the current state of the U.S. macroeconomy to a number of amateur reporters who are unfamiliar with economics.

Prepare a 750- to 1,050-word speech in simple terms and concepts that focus on international trade and foreign exchange rates.

Integrate a summary of your answers to the following questions and cite external research to further justify your facts:

What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involved.

What are the effects of international trade to GDP, domestic markets and university students?

How do government choices in regards to tariffs and quotas affect international relations and trade?

What are foreign exchange rates? How are they determined?

Why doesnt the U.S. simply restrict all goods coming in from China? Why cant the U.S. just minimize the amount of imports coming in from all other countries?

Learning Team Fiscal Policy Paper

Discuss within your Learning Team how and why the U.S.s deficit, surplus and debt have an effect on the following:

Tax payers

Future Social Security and Medicare users

Unemployed individuals

University of Phoenix student

The United States financial reputation on an international level

A domestic automotive manufacturing (exporter)

An Italian clothing company (importer)


Write a 750- to 1,050-word paper summarizing the results.

Discussion Questions

Explain how foreign exchange rates are determined. How do changes in interest rates, inflation, productivity, and income affect exchange rates? What are the advantages and disadvantages of a weak versus a strong dollar for imports, exports, international and domestic markets?

Who benefits from a tariff or quota? Who loses? Why would domestic markets benefit from protectionist trade policies? How do protectionist trade policies affect a governments wealth and fiscal policy?

What is the effect of a trade surplus? What is the effect of a trade deficit? How do trade deficits and surpluses affect the industry in which you work?

Why are trade agreements important for the various countries involved? How is international trade related to the U.S. standard of living as opposed to the standard of living of a small industrial nation or a developing nation? How does international trade affect a countrys standard of living? What impact does it have on the way Americans live life, spend, consume, and so on.?

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