Principles of Economics and Macroeconomic Concepts Assignment 2: Final Report

This assignment is aligned with 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:

from the Bureau of Economic Analysis (bea.gov).

from the Bureau of Economic Analysis (bea.gov).

Real GDP – Click on Section 1, then table 1.1.6, (click on MODIFY to change the year range and frequency). Data is

% 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

• 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 the desired start and end years. Data is from the 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 the desired start and end years. Data is from the Bureau of Economic Analysis (bea.gov).

© 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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ECO100 – Principles of Economics

These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies:

• Unemployment rates – Data is from the Bureau of Labor Statistics (bls.gov).
• Inflation rates as measured by the Consumer Price Index (CPI). Data is from the 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 the Bureau of Economic Analysis (bea.gov).
• Government receipts, expenditures, and savings – Click on Section 3, the table 3.1 for total government and table for 3.2 for the federal government. (Click on MODIFY to change the year range and frequency.) Data are 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.
2. Use the industry GDP resources above to assess the size and growth rate of this industry.

3.

4.

1. 2.
2. Explain why this macroeconomic indicator or policy is important and how it may impact your selected industry.
3. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend.
4. 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.

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.

Principles of Economics and Macroeconomic Concepts 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.

6. This course requires the 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.

© 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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Assignment 2 Rubric

Grading for this assignment will be based on the quality of your responses in addressing each of the points below, using the following rubric:

Points: 200

Assignment 2: Final Report

Criteria

Exemplary 90–100% A

Proficient 80–89% B

Fair 70–79% C

Meets Minimum Expectations 60–69% D

Unacceptable Below 60% F

Assesses the

1.

Weight: 10% size and/or growth rate of the industry relative to the national economy.

The student correctly and thoroughly assesses both the relative size and relative growth rate of the industry in the national economy.

The student correctly assesses the size and/or growth rate of the industry in the national economy. Excludes some minor details.

The student partially assesses the size and/or growth rate of the industry in the national economy. Excludes major details.

The student attempted to assess the size and/or growth rate of the industry in the national economy.

The student did not assess the size of the industry or its growth rate in the national economy.

Identifies at least

2.

Weight: 20% one newsworthy macroeconomic indicator or policy that the industry should monitor.

The student correctly identifies one or more macroeconomic indicators or policies that the industry should monitor and provides strong supporting details.

The student correctly identifies a macroeconomic indicator or policy that the industry should monitor and provides strong supporting details.

The student correctly identifies a macroeconomic indicator or policy that the industry should monitor but does not provide sufficient supporting details.

The student attempted to identify a macroeconomic indicator or policy that the industry should monitor. No sufficient supporting details were provided.

The student did not identify a macroeconomic indicator or policy that the industry should monitor.

3. Explains why the macroeconomic indicator or policy selected in part 2 is important and how it may impact the industry.

Weight: 30%

The student correctly and thoroughly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry.

The student correctly explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes minor details.

The student partially explains why the macroeconomic indicator and/or policy in part 2 is important and how it may impact the industry. Excludes major details.

The student attempted to explain why the macroeconomic indicator and/or policy in part 2 is important and/or how it may impact the industry.

The student did not explain why the macroeconomic indicator and/or policy in part 2 is important or how it may impact the industry.

4. Describes a recent trend in the macroeconomic indicator or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend.

Weight: 20%

The student correctly and thoroughly describes a recent trend in the macroeconomic indicator and/or policy in part 2.

Includes a graph, table, or chart that illustrates the observed trend.

The student correctly describes a recent trend in the macroeconomic indicator and/or policy in part 2. Includes a graph, table, or chart that illustrates the observed trend.

The student partially describes a recent trend in the macroeconomic indicator and/or policy in part 2. Includes a graph, table, or chart that may or may not illustrate the observed trend.

The student attempted to describe a recent trend in the macroeconomic indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided.

The student did not describe a recent trend in the macroeconomic indicator and/or policy in part 2. No graph, table, or chart that illustrates the trend was provided.

© 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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ECO100 – Principles of Economics

Criteria

Exemplary 90–100% A

Proficient 80–89% B

Fair 70–79% C

Meets Minimum Expectations 60–69% D

Unacceptable Below 60% F

Concludes with a

5.

Weight: 10%

The student

The student

The student

The student

The student did a forecast for the industry based on whether the concludes with a correct and thorough concludes with a correct forecast for the industry based on concludes with a partially correct forecast for the attempted forecast for the with a forecast for the industry.

Provides strong support for the forecast.

Provides

May or may not concludes with not conclude

Provides strongly reasonable have provided support for the support for the reasonable forecast.

forecast.

support for the forecast.

6. The observed trend is expected to continue.

forecast for the

industry based

on whether the

observed trend is

expected to

whether the

observed trend is

expected to

continue.

industry based

on whether the

observed trend is

expected to

continue.

industry which

may or may not

have been

supported.

Uses (SWS)

continue.

Strayer Writing

Standards to

write

professionally

and cite sources.

Meets two-page

Weight: 10%

Followed all

writing

standards.

Followed most

writing

standards.

Meets page

Followed some

writing

standards.

Followed few

writing

standards.

Followed few to no writing standards.

Did not meet page minimum.

Did not meet the minimum reference/citation requirement.

Meets page

minimum.

Meets minimum reference/citation requirement.

minimum.

May not meet

page minimum.

minimum.

Meets minimum reference/citation requirement.

May not meet

page minimum.

May not meet minimum reference/citation requirement.

May not meet minimum reference/citation requirement.

Meets two

minimum

reference/citation

requirement.

© 2018 Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed in whole or in part, without the expressed written permission of Strayer University.

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