Question;Economics SystemsDiscuss how your college education could be;considered an investment in human capital. What is the opportunity cost;of your degree?;Reference: Chapter 1, section 1.1: Economics and;Chapter 2, section 2.1: Limited Resources.;Guided Response: Review and respond to at least two;of your classmates? posts by replying to their posts on how a college education;contributes to human capital and the opportunity cost of a degree. Be;sure to refer to concepts found in the reading when responding to your;classmates.;Role of GovernmentEconomics is the study of how society chooses to;allocate its scarce productive resources (labor, capital, land, entrepreneurial;talent).;In a mixed economy, elements of both central;planning and market allocation of resources are used in allocating productive;resources. The United States economy is a mixed economy, with a bias;towards market allocation of resources. This means most resources are;allocated in the private sector by way of markets.;Discuss whether you favor a larger or smaller role;of government in the economy. Refer to concepts found in the reading to;support your opinion.;Reference: Chapter 2: Markets, Governments, and;Nations: The Organization of Economic Activity;Guided Response: Review and respond to at least two of your classmates? by;stating why you agree or disagree which economic activities the government is;more efficient at providing, and which economic activities the private sector;is more efficient at providing.;Week 2;The Current State of the;Economy and UnemploymentImagine a scenario where there is a decline in;aggregate demand. Identify which part of the business cycle is part of a;decline in aggregate demand. Gross Domestic Product (GDP) measures the;amount of new production. A change in the amount of new production affects;employment. Describe what would happen to GDP, the unemployment rate and;the inflation rate if there is a decline in aggregate demand.;Reference: Chapter 6, section 6.3: Aggregate;Equilibrium and Changes in Equilibrium.;Guided Response: Review and respond to at least two;of your classmates? posts by discussing this question in terms of how a;decrease in aggregate demand impacts GDP, and why the change in GDP affects;unemployment.;Who Benefits and Who Loses;from Inflation?Inflation is an important policy issue because it;causes a redistribution of income and wealth, and discourages saving and;investment. Discuss how inflation affects borrowers and lenders, asset;prices, and households on fixed incomes.;Reference: Chapter 4, section 4.3: Gainers and;Losers from Inflation.;Guided Response: Review and respond to at least two;of your classmates? posts by sharing any ideas you may have about how;households and businesses can protect themselves against inflation. Be sure to;refer to concepts found in the reading when responding to your classmates.;Week 3 discussion;Government;Fiscal Policy;Between;2007 and 2009 the U.S. economy experienced a severe recession. In;an effort to stimulate the economy, the federal government passed a stimulus;package. Explain the federal government?s use of fiscal policy (the stimulus) to;promote growth and employment. Support your ideas with concepts found in;the assigned reading. Include the following in your response;Discuss some actions taken;by the federal government and whether the recession would have been longer;and the unemployment rate higher if the government had not acted by;passing the stimulus package? If left alone, do you;believe the economy would have corrected itself as suggested by Classical;economic theory? Explain.Discuss the effect these;policies had on increasing the size of the budget deficits and the;national debt.Reference;Chapter 9, section 9.4: More Recent Tax Changes, and Chapter 10, section 10.2;Early 1990s and 2000s Recessions.;Guided;Response: Review the discussion board posts of your classmates.;Respond to at least two of your classmates by agreeing or disagreeing with;their posts. Support your ideas with concepts found in the assigned reading.;2. Budget;Deficits and the National Debt;Between 2007 and 2011 the federal budget deficit grew from $160.7 billion to;$1,299.6 billion, and the national debt grew from $8.9 trillion to $14.8;trillion. (Figure 10.1: The ratio of debt to GDP, 1977-2011.);In your;post, differentiate the budget deficit from the national debt. How do you;think the increases in the budget deficits and the national debt will affect;the economy in the future?;Reference;Chapter 10, section 10.1: Debt and Deficits, and section 10.4: Do Deficits;Matter?;Guided;Response: Review the discussion board posts of your classmates. Respond;to at least two of your classmates with questions that allow them to extend;their thinking. Support your ideas with concepts found in the assigned;reading.;Week 4;Federal Reserve Bank;Policy during the 2007-2008 RecessionFrom 2007-2010, the Federal Reserve Bank (the Fed);used many practices that had never before been seen from the central bank of;the United States.;Discuss the some of the actions that the Fed took;during this period. Such as;How the Federal Reserve?s;lending practices changed during this period.What did the Federal;Reserve do to support firms deemed ?too big to fail.?Do you believe these actions were necessary to;avoid a collapse in the financial system? Support your opinion with;information from the textbook or external source(s).;Reference: Chapter 12, section 12.4: Bank Failures;During the Great Recession, Chapter 14, section 14.4: Monetary Policy in the;2000s, and Conclusions section at the end of the Chapter 14;Guided Response: Review the posts of your;classmates and respond to at least two of your classmates by agreeing or;disagreeing with their opinions on whether the Federal Reserve actions were;necessary to avoid the collapse of the financial system.;The Effect of Bank Lending;on the EconomyIn conducting expansionary monetary policy, even if;the Federal Reserve Bank is providing reserves to the banking system, during a;recession or during periods of slow economic growth, banks may choose not to;lend out their reserves when interest rates are low and potential borrowers;look risky. This is known as a ?credit crunch?. Explain how a credit;crunch affects economic growth. Specifically, answer these questions in your;post;How does a credit crunch;affect consumer spending and business investment?How does a credit crunch;affect aggregate demand, GDP, and unemployment?Reference: Chapter 14.1 Is Monetary Policy;Effective? and section 14.3: Domestic Sectoral Effects.;Guided Response: Review the discussion board posts;of your classmates. Respond to at least two of your classmates with;responses that allow them to extend their thinking. Support your ideas;with concepts found in the assigned reading.;Week 5;Foreign Direct InvestmentImagine you are in charge of development for a;developing country and were approached by a multinational corporation;interested in locating in your country.;Identify some of the benefits and some of the costs;to the host country from allowing a multinational corporation to locate in a;country with a developing economy. Discuss with your classmates if;developmental assistance from world developmental agencies, such as the World;Bank or the United Nations, would be preferable to private investment.;Reference: Chapter 17, section 17.5: Help From The;Private Sector: Multinationals.;Guided Response: Review several of your classmates?;posts and respond to at least two of them. In your reply, discuss how the;concerns listed in their posts regarding private foreign investment could be;alleviated through aide from world development agencies.;Economies in TransitionThe movement in the direction of a market-based;system with freely determined prices, competition, profits, private ownership;and other features of capitalism is not simple. Discuss some of the;challenges associated with an economy transitioning from socialism to capitalism.;Reference: Chapter 20, section 20.1: World Economic;Systems, and section 20.2: Transition to a Market System.;Guided Response: Review several of your classmates?;posts. Respond to at least two of your peers by discussing the benefits;and the costs of privatization of an economy. Pose questions that may;assist your peers in extending their thinking.;FInal Paper;To complete the following final paper, go to this week's Final Paper link in the left navigation.;Expansionary Economic Policy;Prior to;beginning the final assignment, review the following chapters;Chapter 7: Classical Macroeconomics and the Keynesian Challenge;Chapter 9: Taxes, Government Spending, and Fiscal Policy;Chapter 12: Banking and The Federal Reserve System;Chapter 14: Monetary Policy In Theory And Practice;Focus of;the Final Paper;In an effort to move the economy out of a recession, the federal government;would engage in expansionary economic policies. Respond to the following points;in your paper on the actions the government would take to address expansionary;fiscal and monetary policies;Expansionary;Fiscal Policy;Explain;the actions the federal government would take while engaging in expansionary;fiscal policy in terms of the following;?;The;necessary change in taxes and government spending;?;The;effect on aggregate demand, GDP, and employment.;Expansionary Monetary Policy;The three;tools the Federal Reserve Bank (The Fed) uses when conducting monetary policy;are the required reserve ratio, the discount rate, and open market operations.;Explain the actions of the Fed in regard to the three tools.;?;When the;required reserve ratio is increased or decreased;?;When the;discount rate is increased or decreased;?;Buying or;selling government securities when conducting expansionary monetary policy;Explain;how these actions would affect the money supply, interest rates, spending;aggregate demand, GDP, and employment. Writing the Final PaperThe Final Paper;1. Must be eight to ten;double-spaced pages in length and formatted according to APA style as outlined;in your approved styled guide.;2. Must include a title page that;includes;a. Title of paper;b. Student?s name;c. Course name and number;d. Instructor?s name;e. Date submitted;3. Must include an introductory;paragraph with a succinct thesis statement.;4. Must address the topic of the;paper with critical thought.;5. Must conclude with a restatement;of the thesis and a conclusion paragraph.;6. Must use at least four scholarly;resources, including the textbook. Two sources must come from the;Ashford Library.;7. Must use APA style as outlined in;your approved style guide to document all sources.;8. Must include, on the final page;a reference List that is completed according to APA style as outlined in your;approved style guide.;Week 3 assignment;Efforts to Reduce the Budget;Deficit;The rapid;growth of the national debt alarmed some politicians and created pressure for;restricting Congress's unlimited ability to spend. After reviewing Chapter 10;Section 10.2: Efforts to Reduce the Deficit, discuss the actions taken by;Congress since 1985 to reduce the budget deficits.;Use scholarly sources to support the current debate between the White House and;Congress regarding what measures are necessary to address spending and revenues;(e.g., news reports, official statements, press conferences, as well as numerous;government websites).;Write a two- to three-page paper (not including title and reference pages);using at least three scholarly sources, not including the textbook, and must be;formatted according to APA style as outlined in your approved style guide.;Suggested;references;Ashford University Online Library(follow the Library link within the tool bar on the;left).;Congressional Budget Office: www.cbo.gov.;Internal Revenue Service: www.irs.gov.;The Executive Office of the President: www.whitehouse.gov.;The Paper;Must be two to three;double-spaced pages in length and formatted according to APA style as;outlined in your approved style guide.Must include a title page;with the following:Title of paperStudent?s nameCourse name and numberInstructor?s nameDate submittedMust include an introductory;paragraph with a succinct thesis statement.Must address the topic of;the paper with critical thought.Must conclude with a;restatement of the thesis and a conclusion paragraph.Must use at least three;scholarly sources, including the textbook. One reference must;come from the Ashford University Library.Must use APA style as;outlined in your approved style guide to document all sources.Must include, on the final;page, a reference List that is completed according to APA style as;outlined in your approved style guide.;Week 2 Journal;Challenges to the American Labor;Force;After viewing the videos included in this week?s multimedia resources, reflect;on the challenges facing the U.S. labor force due to outsourcing of jobs;overseas. Discuss the effect of outsourcing of production on GDP.;Week 4 Journal;Reflection on Government;Participation in the Economy;Now that you have completed the sections on fiscal and monetary policies;reflect on what you have studied about the role of the government in the;economy, and tools to influence economic activity. (Tools refer to;government regulation, fiscal policy, and monetary policy.) Describe whether;your ideas regarding the effectiveness of government policy have changed since;Week One.
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