Quantitative and communication fluency in macroeconomic concepts

economics question and need a sample draft to help me learn.

1. Trend in GDP for the last 5 years of available data, both total GDP and GDP spending components (C, I, G, Net Exports). Break down changes in GDP into changes in the spending components (The components are as important as total GDP!). Describe which components are doing the most to drive the GDP trend. You must use Real (aka Constant) prices and not Nominal (aka Current) prices. Make sure all of the measures use the same base year for price levels.
2. Trend in Inflation for the last 5 years.
3. Trend in Unemployment for the last 5 years.
4. Current Fiscal Policy stance (expansionary or contractionary or neutral?)
5. Current Monetary Policy stance (expansionary or contractionary or neutral?). Central bank of euro countries (listLinks to an external site.) is the European Central Bank.
6. Conclusion with quick prediction of where the country’s economy is headed (where is it in the business cycle?)
SUGGESTION
Choose a country for which data is readily available. This will be mostly OECD countries. Don’t choose China because their macroeconomic data is somewhere between unreliable and imaginary.
GDP data is typically found in ‘National Accounts’:
International Monetay Fund (IMF) Data: https://www.imf.org/en/Data. Scroll down to ‘National Accounts’ and click on ‘GDP and Components’. You will be taken to a dashboard. Select your country, and it should show GDP and all components. ‘Constant Prices’ is the real measure and the one you want to use.
The country’s official government statistical agency
Federal Reserve Economic Database (FRED) International Data: https://fred.stlouisfed.org/categories/32263
Organization for Economic Cooperation and Development (OECD): https://www.oecd.org/
World Bank: https://data.worldbank.org/
Internationally, ‘I’ is usually called ‘Gross Fixed Capital Formation’. (US ‘I’ is GFCF plus change in inventories.) ‘G’ is usually called ‘Government Consumption Expenditures’.
REQUIREMENTS
–You may pair up with another student and make a joint submission. This would please me.
–No more than 1100 words in your narrative. All narrative must be your own original writing. Do not copy *any* narrative from elsewhere, cited or not. Submission must be well-written, grammatically correct, and clearly communicate ideas to the reader.
–Bibliography must include at least 4 sources. APA and MLA citation standards are both acceptable. Submissions without full and proper entries in the bibliography will not be assessed, and delay in fixing it beyond the due date will make the submission late.
–The tone of your submission should be strictly analytical and critical. Claims of fact must be substantiated.
–The country cannot be a country in which you have residency or citizenship, nor can it be the United States of America.
–Other technical requirements as per the first assignment (numbered graphics, etc..)
ASSESSMENT
Submissions are evaluated as Very Good, Good Enough. Not Good Enough. or Unacceptable.
Assessment Categories:
Trend data
Completeness (per the Outline)
Economic Discussion (of the data trends)
Focus and Organization
Language Use
Bibliography (y/n)
A submission which is unacceptable on any measure will be rejected and a resubmission required with a penalty.
DO NOT DO THESE
>:( Explaining economic concepts themselves. The reader can be assumed to know the concepts and repeating them is a waste of the reader’s attention. The reader cannot be assumed to know anything the country itself.
>:( Incomplete coverage of the assigned outline, with failure to discuss GDP components or break down GDP changes into the components being the most common offender.
>:( Referring to yourself in any way. The reader does not care about you or your process, nor should they have to.
>:( Providing a “Historical Context” or similar narrative on the country, or anything not focused on the macroeconomy of the past 5 years.
>:( Failing to recognize that the central bank of a country that uses the Euro (list) is the European Central Bank (ECB) and not some national institution.
>:( Having just a URL as a bibliographical entry. Citations must meet academic standards or conform to the suggested citation provided by the data publisher.
Requirements: 1100 words

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *