Reference no: EM133808931

Economics Article

Economic history should not be reduced to cold statistics in a periodical or textbook. The lives of real people are affected each day by economic fluctuations and economic decisions made by individuals, businesses, and governments. The Macroeconomic Scrapbook is your opportunity to add a human side to the economic headlines of our times. Each student is to create a newspaper/magazine article scrapbook that focuses on the economic "crisis" that began in fall 2007. The newspaper/magazine scrapbook should include a minimum of six articles from prominent newspapers or magazines that describe the following economic issues: the housing market, the failure of businesses including banks, actions taken by the Federal Reserve, the rising inflation and unemployment rates, and the actions taken by the state or federal government. You may also select articles that describe the public's response to these issues and actions. Students will choose a minimum of six different concepts from the elements in the economics standards and connect each selected concept to at least one distinct article in the scrapbook. Get Help Now!

Your written entry for each scrapbook page should provide a:
Summary of the article
Description of how the economic concept in the element is illustrated by the article. (Be sure to include a definition of the concept.)
Personal thoughts and/or feelings about the situation described in the article.
OR
Summary of the article
Analysis of how the concept from the element could be part of a recommended solution to the economic problem discussed in article. (Be sure to include a definition of the concept.)
Personal thoughts and/or feelings about the situation described in the article.

Here is a sample written entry for an article on the housing market:
"This article describes the current state of the housing market. The writer emphasizes that in areas throughout the U.S., people are unable or unwilling to pay their mortgages. The inability of many Americans to make their payments coincided with large increases in interest rates on their mortgages. The rise in rates occurred at the same time as home prices began to decline. Many people found that they now owed more on their mortgage than their house was worth. As banks foreclosed on an increasing number of homes, lenders became more selective in issuing mortgages to borrowers. One way that the Federal Reserve System could help solve this problem is through monetary policy. By buying bonds on the open market, the Fed puts downward pressure on the Fed funds rate, making it cheaper for banks to borrow from each other. With cheaper money available, lenders may consider increasing the number of loans to borrowers. The downside of this monetary policy is that it could raise prices as the money supply increases.
Reading this article, I feel sad for the homeowners who cannot stay in their houses. The family of a friend of mine had to move into a small apartment when his family lost their home. This has made it harder for him have friends over to hang out and has made him a bit depressed. I think is important for the government to find ways to help people when times are tough because one economic problem like the housing/lending crises also affects other parts of the economy like public services and employment opportunities."