Final Project: Economic History Analysis Presentation

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Question Description

1) Research and present, in 3–4 slides, foreign trade practices and policies of the 10-year period you researched for Milestones One, Two, and Three.

a) Analyze data representing levels of U.S. imports and exports during this time. How do they relate to other economic outcomes such as the GDP, foreign exchange rates, and so on?

b) Apply specific models developed throughout the course to demonstrate how domestic and foreign events (e.g., wars, changes in trade barriers, development abroad) have impacted the level of and changes in imports and exports in the United States.

2) Draw conclusions to the research carried out throughout the course.

a) Summarize the overall trends and outcomes of this 10-year period by integrating the data, economic models, and historical analysis.

b) Defend your agreement or disagreement with the actions taken by the U.S. government during this time based upon your analysis and application of the macroeconomic theories

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Presentation Title Your Name ECO 202 Instructor Name ECO 202 Ten-Year Period of U.S. Economic History Overview • The Korean war happened between 1950 and 1953 and its effect was felt in the US economic environment. • It was an era of power struggles between the non-communist and communist. • The invasion of North Korea led to the increase in the tax levels in United States. • The threats of Western armies in making the invasion led to the assessment of the forces that increased the risks of the war to other countries. ECO 202 GDP (2 slides) ECO 202 Cont’d • In response to the decrease of the levels of GDP the government introduced a stimulus to control wages and prices. • The prices in the stock market were affected leading to the need to focus on the rates of investment in the market. • The high taxation levels during the war period led to the change in the GDP levels and the increase in the deficit in the economy. • The negative effects of the war led to the high costs of leaving and the need to assess the consequences that occur in the economy. • The increase in the spending in the military affected the GDP levels as there was increase in the government spending. ECO 202 Unemployment and Inflation ECO 202 Year 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 Unemployment Rate 8.7% 15.9% 23.6% 24.9% 21.7% 20.1% 16.9% 14.3% 19.0% 17.2% 14.6% 9.9% 4.7% 1.9% 1.2% 1.9% 3.9% 3.9% 4.0% 6.6% 4.3% 3.1% 2.7% 4.5% 5.0% 4.2% 4.2% 5.2% 6.2% 5.3% GDP Growth -8.5% -6.4% -12.9% -1.2% 10.8% 8.9% 12.9% 5.1% -3.3% 8.0% 8.8% 17.7% 18.9% 17.0% 8.0% -1.0% -11.6% -1.1% 4.1% -0.6% 8.7% 8.0% 4.1% 4.7% -0.6% 7.1% 2.1% 2.1% -0.7% 6.9% Inflation Rate -6.4% -9.3% -10.3% 0.8% 1.5% 3.0% 1.4% 2.9% -2.8% 0% 0.7% 9.9% 9.0% 3.0% 2.3% 2.2% 18.1% 8.8% 3.0% -2.1% 5.9% 6.0% 0.8% 0.7% -0.7% 0.4% 3.0% 2.9% 1.8% 1.7% Cont’d • The consumer expenditures at the period of war increased due to increase in the government spending. • The stimulus of the government consumption was in the funding of the war. • The private expenditures at the time reduced and this led to the reduction of the growth of the economy. • The characteristics of the economy was characterized by increased hostilities and this affected the proportions of the economy in the outbreak ECO 202 Interest Rates ECO 202 Fiscal Policy ❏ The Korean war led to increase in the level of taxation and the GDP at average at 5.8% between 1950 and 1953. ❏ Consumption and investment levels were low. ❏ The aim of the fiscal policy was to ensure there is adjustment of levels of taxes and spending to increase economic growth. ❏ The balance between the tax rates and the spending by the government helped in the management of the functions of the economy at the time. ECO 202 Fiscal Policy Actions ❑ The growth in GDP at the time was through the control of inflation. ❑The adjustment of the taxes would lead to increase in spending of the government helping to stimulate investments. ❑The Keynesian model confirms the influence of productivity of the economy by the government through adjustment of the levels of tax. ❑The theoretical model shows the relationship between income and spending helping to show the best actions of the government. ECO 202 Fiscal Policy Impact ❑The effect of the fiscal policy led to improvement of employment level of households, consumption and investment. ❑The control of prices and wages increased the spending of the government focusing in improvement of government spending. ❑From the data, inflation rates and unemployment reduced while the level of GDP grew. ❑The reduction of the hostilities would see an increase in the participation level of the community improving the GDP levels. ECO 202 Monetary Policy ❑ Monetary policy is important in control of money supply in the economy. ❑During the period the inflation rates were high coupled with high rates of unemployment. ❑The expansionary policy applied was to boost the growth of the economy and stimulate investments. ❑The focus of the Federal reserve was to control the rate of interests and the period of war and open the markets to operation. ECO 202 Monetary Policy Actions ❑ The use of the independent monetary policy focused on development of open market operations. ❑The target was on the definition of the free reserves from the open discount window. ❑The pegging of the process of the bonds encouraged the stability of the economy leading to reduced inflation rates. ❑The observation of the consumption rates focused on growth of the economy and the reduced expenditure. ECO 202 Monetary Policy Impact ❑The effect of the monetary policy led to stabilization of investments and reduced the rate of inflation. ❑From the data the reduction of the rates of unemployment was through restriction of the prices that helped in stimulation of investments. ❑The restriction of money meant the increase in stability leading to the factoring of the changes in the growth of credit. ❑The expansionary policy would focus on offering reserves that stimulate economic performance. ECO 202 References Lee E., O. (1997). The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War. The American Economic Review, (1), 23. Mason, W. I., & Russell, J. O. (2012). United States Import Restraints : Economic Effects. New York: Nova Science Publishers, Inc. Miller, O. (2016). War, the state and the formation of the North Korean industrial working class, 1931–60. Third World Quarterly, 37(10), 1901-1920. doi:10.1080/01436597.2016.1171707 ECO 202 References cont’d. Lee E., O. (1997). The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War. The American Economic Review, (1),23. Mason, W. I., & Russell, J. O. (2012). United States Import Restraints :Economic Effects. New York: Nova Science Publishers, Inc. Miller, O. (2016). War, the state and the formation of the North Korean industrial working class, 1931–60. Third World Quarterly, 37(10), 1901-1920. doi:10.1080/01436597.2016.1171707 ECO 202 References Continued Lee E., O. (1997). The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War. The American Economic Review, (1),23. Mason, W. I., & Russell, J. O. (2012). United States Import Restraints :Economic Effects. New York: Nova Science Publishers, Inc. Miller, O. (2016). War, the state and the formation of the North Korean industrial working class, 1931–60. Third World Quarterly, 37(10), 1901-1920. doi:10.1080/01436597.2016.1171707 ECO 202 ECO 202 Presentation Title Brendon Cronin ECO 202 Brianne Christiano ECO 202 1 Monetary Policy ❑ Monetary policy is important in control of money supply in the economy. ❑During the period the inflation rates were high coupled with high rates of unemployment. ❑The expansionary policy applied was to boost the growth of the economy and stimulate investments. ❑The focus of the Federal reserve was to control the rate of interests and the period of war and open the markets to operation. ECO 202 Monetary policy is important in control of money supply in the economy as during the period the inflation rates were high coupled with high rates of unemployment. The involvement of the Federal reserve was to focus on the growth measures in the environment as this would help in stabilizing the economy from the high rates of inflation experienced at the time. The expansionary policy applied was to boost the growth of the economy and stimulate investments and this would ensure there is growth of the rates of employment in the economy (Lee, 1997). The focus of the Federal reserve was to control the rate of interests and the period of war and open the markets to operation. Monetary Policy Actions ❑ The use of the independent monetary policy focused on development of open market operations. ❑The target was on the definition of the free reserves from the open discount window. ❑The pegging of the process of the bonds encouraged the stability of the economy leading to reduced inflation rates. ❑The observation of the consumption rates focused on growth of the economy and the reduced expenditure. ECO 202 The use of the independent monetary policy focused on development of open market operations and this meant reducing the rate of inflation and allowing the treasury to analyze the Federal rate. The target was on the definition of the free reserves from the open discount window and this guided the development of the reserves in operation of the economy (Mason & Russell, 2012). The pegging of the process of the bonds encouraged the stability of the economy leading to reduced inflation rates. The observation of the consumption rates focused on growth of the economy and the reduced expenditure. Monetary Policy Impact ❑The effect of the monetary policy led to stabilization of investments and reduced the rate of inflation. ❑From the data the reduction of the rates of unemployment was through restriction of the prices that helped in stimulation of investments. ❑The restriction of money meant the increase in stability leading to the factoring of the changes in the growth of credit. ❑The expansionary policy would focus on offering reserves that stimulate economic performance. ECO 202 The effect of the monetary policy led to stabilization of investments and reduced the rate of inflation. From the data the reduction of the rates of unemployment was through restriction of the prices that helped in stimulation of investments (Miller, 2016). The restriction of money meant the increase in stability leading to the factoring of the changes in the growth of credit. The expansionary policy would focus on offering reserves that stimulate economic performance and this helped in the stabilization of the prices helping to stimulate investments. References Lee E., O. (1997). The Macroeconomic Effects of War Finance in the United States: World War II and the Korean War. The American Economic Review, (1),23. Mason, W. I., & Russell, J. O. (2012). United States Import Restraints :Economic Effects. New York: Nova Science Publishers, Inc. Miller, O. (2016). War, the state and the formation of the North Korean industrial working class, 1931–60. Third World Quarterly, 37(10), 1901-1920. doi:10.1080/01436597.2016.1171707 ECO 202 5 ECO 202 Final Project Guidelines and Rubric Overview The final project for this course is the creation of economic history analysis presentation. Macroeconomics is the part of the study of economics that is concerned with the aggregate or the whole. Macroeconomics provides us with tools and methods to understand how our economy works as a whole. It deals with economy-wide issues such as price levels, employment, national income, and growth. As a student of macroeconomics, you will learn how to understand the changes occurring throughout our economy and how our economy is influenced by our decisions, by our government, and by other countries. In this assignment, you will perform an in-depth analysis of a 10-year period in U.S. economic history between 1950 and today. In your analysis, you will examine macroeconomic data, basic macroeconomic principles, government actions, and historical/current events to give a clear and comprehensive picture of your chosen time period and detail how they are related to one another. The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Four, and Five. The final project will be submitted in Module Seven. In this assignment, you will demonstrate your mastery of the following course outcomes:     Apply macroeconomic models to historical and current events for drawing connections between the events and their economic impact Determine the effects of government intervention and fiscal and monetary policy actions for their impact on the economy Analyze macroeconomic data for their implication to economic outcomes and forecasting Analyze macroeconomics trends and government policies for their influence on industries and households Prompt For this assignment, you will first need to choose a 10-year period in U.S. economic history between 1950 and today. You will then present the data collected from government sources related to a variety of macroeconomic phenomena and analyze them in conjunction with the models and core principles to explain the economy-wide changes during your chosen time period. You will also examine the events of the time in their relation to the macroeconomic issues as well as the corresponding government actions taken (fiscal and monetary policies) to address the issues. The final presentation should be 15–20 slides using PowerPoint, Prezi, Keynote, or PreZentit, including title and reference slides. Be sure to include speaker notes to accompany the data and graphs, information, and explanations presented on the slide. Specifically, the following critical elements must be addressed: I. Examination of Macroeconomic Data (Be sure to include speaker notes to accompany all of your responses.) a) Gross Domestic Product (GDP) and Growth i. Analyze the annual GDP during the time frame to calculate specific growth rates and trends in the U.S. economy. ii. Choose two or three of the most relevant historical and/or current events during this time period that impacted the U.S. economy. Apply specific models developed throughout the course to demonstrate how these events influenced national output during this time. b) Unemployment and Inflation i. Analyze unemployment and inflation data during the time frame in their relation to output and growth, using macroeconomic principles and models to explain their effect. ii. Apply specific models developed throughout the course to demonstrate how the previously selected historical and/or current events influenced both unemployment and inflation during this time. c) Analyze interest rate fluctuations throughout this time period and their effects on other aspects of the economy. How would these fluctuations affect inflation? Would investments and foreign trade rates increase or decrease? How would the GDP of the American economy be affected? d) Foreign Trade i. Analyze data representing levels of U.S. imports and exports during this time. How do they relate to other economic outcomes such as the GDP, foreign exchange rates, and so on? ii. Apply specific models developed throughout the course to demonstrate how domestic and foreign events (e.g., wars, changes in trade barriers, development abroad) have impacted the level of and changes in imports and exports in the United States. II. III. Government Policies (Be sure to include speaker notes to accompany all of your responses.) a) Fiscal Policy i. Examine the fiscal policies in place at the start of your specific time period in relation to their effects on macroeconomic issues. For instance, consider level of government spending, taxation, subsidies, unemployment benefits, and so on. ii. Analyze new fiscal policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, using macroeconomic principles to explain the actions. iii. Explain the impact of the new fiscal policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles. b) Monetary Policy i. Examine the monetary policies in place at the start of your specific time period in relation to their effects on macroeconomic issues. For instance, consider the discount rate set by the Fed, the rates on reserves, open market operations, and so on. ii. Analyze new monetary policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, using macroeconomic principles to explain the actions. iii. Explain the impact of the new monetary policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles. Conclusion (Be sure to include speaker notes to accompany all of your responses.) a) Summarize the overall trends and outcomes of this 10-year period by integrating the data, economic models, and historical analysis. b) Defend your agreement or disagreement with the actions taken by the U.S. government during this time based upon your analysis and application of the macroeconomic theories. Milestones Milestone One: Macroeconomic Data Report In Module Two, you will submit the first three sections of your final project as outlined in Section I, parts a), b), and c). 1) Choose a 10-year period in the history of the U.S. between 1950 and today. All responses will be related to that timeframe. b) Gross Domestic Product (GDP) and Growth i. Analyze the annual GDP to calculate specific growth rates and trends in the U.S. economy. ii. Choose two or three of the most relevant events from this time period that impacted the U.S. economy. Apply specific models developed throughout the course to demonstrate how these events influenced national output during this time period. c) Unemployment and Inflation i. Analyze unemployment and inflation data as to their relation to output and growth, using macroeconomic principles and models to explain their effect. ii. Apply specific models developed throughout the course to demonstrate how the previously selected events influenced both unemployment and inflation during this time period. d) Analyze interest rate fluctuations throughout this time period and their effects on other aspects of the economy. How would these fluctuations affect inflation? Would investments and foreign trade rates increase or decrease? How would the GDP of the American economy be affected? 2) Present your research with 4–6 slides in PowerPoint, Prezi, Keynotes, or PreZentit, not including title page and references. Be sure to include speaker notes to accompany all of your responses. 3) Apply APA formatting to citations and references. This milestone will be graded with the Milestone One Rubric. Milestone Two: Fiscal Policies In Module Four, you will submit a section of your final project pertaining to fiscal policies as outlined in Section II, part a). 1) Continue your observation of the 10-year period selected for Milestone One, and research the government policies implemented during those years. a) Fiscal Policy i. Examine the fiscal policies in place at the start of your specific time period in relation to their effects on macroeconomic issues. For instance, consider level of government spending, taxation, subsidies, unemployment benefits, and so on. Analyze new fiscal policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, using macroeconomic principles to explain the actions. ii. Explain the impact of the new fiscal policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles. 2) Present your research with 3–5 slides in PowerPoint, Prezi, Keynotes or PreZentit, not including title page and references. Be sure to include speaker notes to accompany all of your responses. 3) Apply APA formatting to citations and references. This milestone will be graded with the Milestone Two Rubric. Milestone Three: Monetary Policies In Module Five, you will submit a section of your final project pertaining to monetary policies as outlined in Section II, part b). 1) Continue your observation of the 10-year period selected for Milestone One and research the Government Policies implemented during those years. a) Monetary Policy i. Examine the monetary policies in place at the start of your specific time period in relation to their ef ...
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Attached.

Economic History Analysis
Presentation
NAME:
ECO 202
DATE

Ten-Year Period of U.S. Economic
History
Overview

• The Korean war happened between 1950 and 1953 and its effect was felt in the US economic environment.
• It was an era of power struggles between the non-communist and communist.
• The invasion of North Korea led to the increase in the tax levels in United States.
• The threats of Western armies in making the invasion led to the assessment of the forces that increased the risks of the war to
other countries.
GDP
In response to the decrease of the levels of GDP the government introduced a stimulus to control wages and prices.
The prices in the stock market were affected leading to the need to focus on the rates of investment in the market.



• The high taxation levels during the war period led to the change in the GDP levels and the increase in the deficit in the economy.
• The negative effects of the war led to the high costs of leaving and the need to assess the consequences that occur in the economy.
• The increase in the spending in the military affected the GDP levels as there wa...

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