Posted: June 18th, 2015

Course Global Economics;

Course Global Economics;

:  Introduction to Macroeconomics
For this assignment
, you will complete four economic problems related to macroeconomics,
including gross domestic product (GDP), national income, business cycles, unemployment and
inflation, and fiscal policy.
Business analysts suggest solutions and
guidelines for organizations, with support from relevant
data, resources, references, and economic principles.
Assignment Content
By successf
ully completing this assignment,
you will demonstrate proficiency in the following
co
urse competencies and assi
gnment
criteria:
1.
Competency 1: Apply the theories, models, and practices of economic theory to create
value for the firm.
–
Analyze solutions with support from relevant data, resources, references, and
economic principles.
2.
Competency 3: Analyze the macroeconomic environment of corporate operations.
–
Analyze Gross Domestic Product (GDP), Net Domestic Product (NDP), and National
Income (NI) using appropriate data.
3.
Competency 4: Analyze the microeconomic environment of corporate operations.
–
Analyze past and present value of income, available products, and quality of
products.
–
Analyze aggregate demand and supply and graph the resul
ts.
4.
Competency 5: Communicate in a manner that is professional and consistent with
expectations for members of the business professions.
Context
For this assignment
, you will research macroeconomics
—
gross domestic product (GDP),
national income, business cycles, unemployment and inflation, and fiscal policy.
GDP is one measurement of the well
–
being of a nation, but it is not the only o
ne. GDP consists
of what consumers buy, what businesses buy, what the government buys, and what is either
imported or exported.
On the other side, everything a nation produces must be paid for, which represents the national
income
—
wages for labor, rents fo
r land owners, and interest or return for capital owners.
Business cycles are the ups and downs of an economy, both nationally and globally. For
example, we recently experienced something called the Great Recession. Many jobs were lost.
This followed a per
iod of economic growth. You will study the factors that contribute to business
cycles. You will also study
fiscal policy, which consists of tools the federal government can use to manage business cycles,
such as taxes, debt, and spending.
Suggested Resour
ces
The following optional resources are provided to support
you in
completing the assignment
or to
provide a helpful context.
.
Resources
Katkov, A. (2012).
Great recession of 2008
–
2009: Causes and consequences
.
Journal of Applied
Business and Economics
,
13
(3), 107
–
122.
Internet Resources
Access the following resources by clicking the links provided. Please note that
URLs change
frequently. Permissions for the following links have been either granted or deemed appropriate
for educational use at the time of course publication.
?
Beggs, J. (2013).
The production possibilities frontier
[About.com guide].
Retrieved from http://economics.about.com/od/production
–
possibilities/ss/The
–
Product
ion
–
Possibilities
–
Frontier.htm
?
Beggs, J. (2013).
Supply and demand equilibrium
[About.com guide]. Retrieved
from http://economics.about.com/od/market
–
equilibrium/ss/Supply
–
And
–
Demand
–
Equilibrium.htm
?
Ahleresten, K. (2008).
Essentials of microeconomics
. Retrieved from
http://bookboon.com/en/textbooks/economics/microeconomics
–
uk
?
Jochumzen, P. (2010).
Essentials of macroeconomics
. Retrieved from
http://bookboon.com/en/textbooks/economics/macroeconimics
–
uk
?
McAfee, P. R. (2006).
Introduction to economic analysis
. Retrieved from
http://www.mcafee.cc/Introecon/IEA.pdf
?
About.com. (2013).
Free economics textbooks
. Retrieved from
http://economics.about.com/od/freeeconomicstextbooks/Free_Econ
omics_Textbo
oks.htm