U.S. Economy

Research Topic and Instructions

This research assignment requires analysis of economic data and policies in a manner that displays advanced understating of the topics and models/theories presented in the Macroeconomics course. The assignment has two major parts. Each part contains multiple components. Please address both parts and each of the specified components in sufficient detail in one comprehensive research paper. You must correctly use most of the relevant key concepts and models/theories learned in the course.

Part I: Description of the State of the U.S. Economy

1. Describe the state of the U.S. Economy for the years between 2012 and now in terms of macroeconomic measures discussed in the course (GDP, unemployment, and inflation rates). Select ONE of these macroeconomic measures to write about. Use data from the National Bureau of Economic Research (NBER), http://www.recovery.gov, and other government agencies and departments, such as Department of Labor (Bureau of Labor Statistics), Department of Commerce (Bureau of Economic Analysis), etc. and present the data in charts, graphs, or tables.

2. As you will notice from your data analysis, the economy passes through different phases and turns. Discuss the implications of a given state (for example, recession) in terms households, businesses, and the entire society. Share your thoughts as to why it is important for you to understand the different states through which the economy passes. Share personal examples and experiences. While Covid-19 has been a major disruptor of the economy, it should not form the major basis for your paper, so many other things have taken place since 2012.

Part II: Analysis of Economic Policies

1. In your analysis of the macroeconomic data, you will notice that the U.S. economy passed through a major recession. Based on research, discuss the underlying causes of the recession. Identify monetary and fiscal policies implemented by the Federal Reserve and the government to deal with the recession.

2. Evaluate the expected and actual effects of each policy. Your response needs to include the name of the policy, description of the policy, the year it is implemented, and discussion of expected and actual outcomes in terms of the GDP, unemployment, and inflation rates.

3. After close observation of the different perspectives discussed in the course, share your position on the effectiveness of fiscal and monetary policies to deal with recession or inflation.

4. As part of the economy, each of us will be affected by the state of the economy and the actions policy makers take to stabilize or advance it. Conclude by sharing why understanding these actions and outcomes matter to you as an individual who is part of the economic system. How do they affect the society/economy? What could be done differently? Share personal examples and experiences

General Guidelines

• The paper must be 1000 – 1500 words long, typewritten, double-spaced, with 1” margins and 12pt. Times New Roman font. The paper must be written in essay format, using standard written English with a clear introduction and conclusion. Organize your paper with the following subheadings:

• Introduction
• Description of the State of the U.S. Economy
• Analysis of Economic Policies
• Personal Reflections and
• Conclusion

You must use at least four credible sources coming from academic journal articles (you will need to visit the library to know what a journal article looks like and where it can be retrieved – most journal articles come from databases e.g.: EBSCO host or Academic Search Premier etc.)

• You must use APA-formatted in-text citations (It is important that you identify all items directly copied or paraphrased from other sources by including the source each time you cite or paraphrased other people’s work. Read TCCD’s policy on plagiarism)
• You must include an APA-formatted reference page. Below is an example of how you can cite your sources in the work cited list in APA format: – this how you will list in the reference page or work cited list:
Dommer, S. L., Swaminathan, V., & Ahluwalia, R. (2013). Using differentiated brands to deflect
Exclusion and protect inclusion: the moderating role of self-esteem on attachment to
Differentiated brands. Journal of Consumer Research, 40. doi: 10.1086/671763.

• This is a research paper:
o Limit personal opinions on the issues – this means you must paraphrase any words obtained from your sources.
o Do not copy and paste basic definitions of concepts and descriptions of theories from the text or other sources; show the applications of these concepts in the real world.
o The major portion (at least 80%) of the paper must be written in your own words.

If you happen to use tables or graphs, incorporate them in your paper using APA formatting