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Macroeconomics Team Project
• Each team is expected to complete a Learning Project demonstrating the correctusing the economic principles covered throughout the course.• Each team must develop an opinion on the status of the national economy based onthe current economic data and the macroeconomic principles covered in the course.• Each team must develop a set of recommendations that promote the long-term andshort-term economic growth of the national economy.• The team shall provide a power point presentation of Task 1 of the projectat midterm point of the course. The final power point presentation of all 6Task is due at the end of the course.• The presentation is not a presentation on the topics presented inthe textbook. The presentation should reflect the student’s view onthe national economy supported by actual economic data.
1. Develop a position regarding thecurrent business cycle phase of thenational economy, based on the keyindicators of economic activity forthe US economy.
Use current data (Annual RealGDP Growth Rate, CurrentUnemployment Rate, the Rateof Inflation) to support thebusiness cycle position that bestrepresents the team’s consensuson status of the US economy.
2. Develop a position on the statusof the national economy using theAS-AD Model output gap analysis.
Use the data the team collectedin Project Task 1 to determinethe US economy output gap.
Parkin, Macroeconomics 13thEdition, pages 256-257, Figure 10.9
3. Develops a set recommendationthat align with the position taken onthe status of the national economicoutput gap.
Develop recommendations,consistent with fiscal,monetary, and internationalpolicy to address the output gapidentified in Task 2.
4. Develops a set ofrecommendations regarding thecapacity of the national economy toprovide enough economic growthfor future generations.
Use the data the team collectedin Project Task 1 to developlong-term recommendations forUS economic growth (PotentialGDP).
Parkin, Macroeconomics 13thEdition, pages 148-149, Figure 6.11& 154-155
5. Develop position on how theteam’s recommendations impact theUS federal budget, the level offederal debt and the money supply.
Explain the impact of Task 3&4 recommendations on thefederal budget (surplus ordeficit), level of federal debtand the money supply (increaseor decrease).
Parkin, Macroeconomics 13thEdition, pages 328-330, Figures13.2-4
6. Choose one of the threedominate macroeconomic theories(Classical, Keynesian, andMonetary) that best describes theteam recommendations to improvethe performance of the nationaleconomy.
Explain which macroeconomictheory best categorizes theteam’s recommendationsdeveloped in Task 3 and 4.
Parkin, Macroeconomics 13thEdition, Chapter 10, pages 260-261
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