ECO100 Principles of Economics
Assignment 2: Final Report Due Week 10, worth 200 points
This assignment is aligned to this course outcome:
- Apply macroeconomic concepts to current and personal economic events and decisions. In addition to writing about macroeconomic concepts, it’s equally important to be able to convey your understanding of these concepts by communicating them to others. In the workplace you might do this by writing briefs (like you did for Assignment 1), creating presentations, or writing reports for your manager or team.
This Final Report assignment will be a Word document (2-3 pages) that builds off your previous Economic Brief and selected industry.
For this assignment, you’ll examine at least one of the macroeconomic indicators or policies below within the context of the industry you have previously selected.
- GDP growth • Unemployment rates • Inflation rates • Interest rates • International trade policy and issues related to trade balances, trade restrictions, etc. • Government fiscal policy and issues related to taxation, government spending, and budget deficits • FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy Macroeconomic Resources for Industry and Economy These resources are available to help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP: • Real GDP – Click on Section 1, then table 1.1.6, (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).
- % change in Real GDP – Click on Section 1, then table 1.1.1, (click on MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).
- GDP by Industry – Scroll down and click on “GDP by Industry”, then Click on “GDP by Industry (Q) (A)”. Select (Q) for Quarterly Data or (A) for Annual Data and then click on “Next Step”. This will provide data for 2008 to 2017. To change the year range, click on MODIFY and type in desired start and end years. Data is from Bureau of Economic Analysis (bea.gov).
- % change in GDP by industry – Scroll down and Click on “Value Added by Industry”, then Click on “Percent Change in Chain-Type Quantity Indexes for GDP by Industry (Q) (A)”. Select (Q) for Quarterly Data or (A) for Annual Data and then Click on “Next Step”. This will provide data for 2008 to 2017. To change the year range, click on MODIFY and type in desired start and end years. Data is from Bureau of Economic Analysis (bea.gov).
These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies: • Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov).
- Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov). • % Change in Real Exports and Imports – Click on Section 4, then table 4.2.1. (Click on MODIFY to change the year range and frequency.) Data is from Bureau of Economic Analysis (bea.gov).
- Government receipts, expenditures, and savings – Click on Section 3, then table 3.1 for total government and table for 3.2 for federal government. (Click on MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov).
- FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com).
Preparation 1. To begin this assignment, recall the industry you selected in Assignment 1.
- Use the industry GDP resources above to assess the size and growth rate of this industry.
- Next, identify a newsworthy macroeconomic indicator or policy that may impact your selected industry. Use the macroeconomic resources above to find patterns and trends.
- It will also be important to review relevant chapters from The Little Book of Economics, the Principles of Economics readings, and your prior discussion board questions and responses.
Instructions Prepare a Final Report that is approximately two to three (2-3) pages long in which you:
- Assess your selected industry’s relative size and growth rate in the economy.
- Identify at least one newsworthy macroeconomic indicator or policy that is important for the industry to monitor, e.g., GDP, unemployment, inflation rates, interest rates, trade policy, government taxation and spending decisions, and/or FED decisions.
- Explain why this macroeconomic indicator or policy is important and how it may impact your selected industry.
- Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend.
- Conclude with a forecast for the industry based on whether the trend identified in part 4 is expected to continue. Provide support for your conclusion.
- This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: You’ll be prompted to enter your Blackboard login credentials to view these standards.)
o Your brief should include a cover page.
o Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font.
o Your report should include a minimum of two (2) references/citations in the text