What would you do to solve the macroeconomic issues

Assignment Help Microeconomics

Reference no: EM133366747

Introduction

Your introduction needs to include the following.

o Include a clear definition of unemployment and inflation and how and why they occur and rise in the economy.

o Briefly provide your understanding of the relationship between GDP growth and/or decline, high/low unemployment, and high/low inflation rates.

o Include a brief description of the two unemployment-related issues that you are going to address in this paper and their importance. Basically, why do you think they are important to research and resolve?
• Data

Obtain data from at least 3 credible sources (not Wikipidia). Use tables, graphs, and figures to support your argument. You can find the latest unemployment and inflation data at www.bls.gov (Bureau of Labor Statistics).

It is important to obtain your unemployment data from the Bureau of Labor Statistics (BLS) website. Follow the "Guide to using the BLS website Data" provided on this assignment page.

You need 5 data pieces in the data section (3 General data pieces: GDP Growth Rate, Unemployment Rate, Inflation Rate. Variable data pieces: 2 specific unemployment rates based on your variable (gender, race, education, etc.). All pieces of data need the same 10-year period you have chosen.

Data (graphs or tables) that have to be provided in this section:

o GDP: Data that represents the last 10 years of GDP growth rate (percentage).

o Inflation: Data that represents the last 10 years of inflation rate (percentage).

o Unemployment: Data that represents the last 10 yearsof unemployment rate (percentage), which could be obtained from the BLS website.

o Two Issues: Data that represents the last 10 years about the two issues you are going to address. Provide one separate data set (graph or table) for each of the two issues, which could be obtained from the BLS website.

Analysis

This section needs to contain the following discussions based on the data that was gathered and your understanding of unemployment, inflation, and GDP.

o Unemployment and Inflation: Discuss the trends of unemployment and inflation rates over the past 10 years and provide your objective analysis of the changes in unemployment and inflation rates and the current rates. Place extra emphasis on the periods where unemployment or inflation was either too high or too low. Also state the effect of the high and low rates on GDP.

o Two Issues: Discuss the two unemployment-related issues you selected. Provide an overview of their trends and use facts to highlight the major changes in their trends and their current statuses. State the reason(s) why you believe these two issues represent a challenge for the economy.
• Reflection and Critical Thinking

Connect all the dots together by relating your above analysis to other areas in the macroeconomy. Basically, you will link changes in overall unemployment, the two unemployment related issues you selected, inflation, and GDP to one another and how they impacted each other during periods of economic decline (recessions) and periods of economic growth (expansion).

• Solutiono State which macroeconomic policy (monetary policy or fiscal policy) might resolve the issues you highlighted above, and state how this policy could be implemented and why it would solve these problems.

o Finally, provide your own solution. Basically, answer the following question.

What would you do to solve the macroeconomic issues you addressed if you were in charge of the U.S.economy? State why.

Reference no: EM133366747

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