Causes And Impacts Of Economic Recession Of 2007 Critical Analysis

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Economics

Description

Guidelines for Critical Essay (XCR opportunity)

Once you find your topic of interest, raise a ‘critical thinking question’ about your topic (ex: Should the government decrease the national debt?) and start working on your research paper of about 5 pages (word count: 1200-1500 words).

Your paper should include an introduction with your thesis. The main body and paragraphs should include arguments and supportive evidence in favor of your topic (ex: pros for a decrease in the national debt) and arguments and supportive evidence against that topic (ex: cons for decrease in the national debt). It should become a well-rounded argumentative essay.

For the conclusion I would like YOUR critical analysis and your viewpoint on the topic, i.e. your opinion – based on and supported by evidence. You should try and support your arguments with some positive economics: find facts and data (i.e. charts, tables, graphs) and include those as well. Your paper should include scholarly sources (provide references to sources throughout your essay and the bibliography at the end of the paper).

Be sure to avoid plagiarism, i.e. copy and paste from other authors. You need to re-write the information in your own words and cite the sources throughout the paper, so I can see where you found your information.

I am also including a rubric that I use to grade your paper:

Critical essay rubric:

Feature

Present

Absent

Comment

Is the paper typed?

Attention grabbing sentence?

Introduction: Is focus of essay explicitly stated? What is the research question?

Definitions of the main concept?

Ex: Economic Growth, Unemployment, Hyper Inflation or Inflation, Deficit versus Debt, Great Recession/Great Depression

Is the research question clear?

Graphs?

Balance of pros and cons?

Are the arguments convincing? Based on evidence?

Conclusion?

Cite References? Scholarly Sources?

How many scholarly references?

Word Count?

Charts?

General Feedback:

Grammatical errors: MINOR/MAJOR?

(IF MAJOR, WRITING CENTER is recommended)

For Each Topic: what additional features are included?

Examples:

ECONOMIC GROWTH: Compare one original Asian Tiger with either China or India

UNEMPLOYMENT: Compare the unemployment rates with other states or cities or nations and identify the reasons.

HYPERINFLATION / INFLATION: Compare with Argentina or Zimbabwe or Venezuela.

DEFICIT VS DEBT: Compare US with another country.

GREAT RECESSION/GREAT DEPRESSION: Compare within the US or with another country.

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Explanation & Answer

Attached.

Critical Analysis- Outline
Thesis: An economic recession refers to a significant decline in a country’s real GDP,
employment, economic activity, sales, real income as well as industrial production as a result of the
decrease in the aggregate demand for at least two consecutive quarters in the year.
The paper analyzes the great recession as follows:
I.
II.

Introduction
Causes of the Economic Recession

III.

Statistics of the Great Recession

IV.

After Effects of the Great Recession

V.
VI.

Recession in Canada
Re-occurrence of the Great Recession


Running head: CRITICAL ANALYSIS

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Critical Analysis
Name
Institution

CRITICAL ANALYSIS

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Critical Analysis

Economic Recession of 2007: What caused it and what were the after effects? Can we predict
another major recession?
Introduction
An economic recession refers to a significant decline in a country’s real GDP, employment,
economic activity, sales, real income as well as industrial production as a result of the decrease in
the aggregate demand for at least two consecutive quarters in the year (Jenkins et al., 2012).
Recession comes after a downward phase of the economy and is characterized by stagnation in
investment, an increase in unemployment and the general reduction in incomes (Katz, 2014).
Imposition of higher rates of interest by the government leads to the overall increase in the cost of
money lowering the levels of consumption for both the government and the consumer. This results
in the decline in consumer confidence and consequently the reduction in the overall demand for
goods and services. Additionally, the financing of businesses become more had through borrowing
and firms are forced to lay off their workers thus increasing unemployment. This paper seeks to
analyze the great recession felt between 2007 and 2009 by investigating its causes, effects and the
possibility of predicting future occurrences of the economic crisis associated with this occurrence.
Causes of the Economic Recession
The housing boom in the United States in early to mid-2000s set the stage for the great
recessio...


Anonymous
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