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ECO 372 Entire Course

ECO 372 Week 1 Individual Assignment Macroeconomic Terms

ECO 372 Week 1 Individual Assignment Economic Definitions Work
sheet (New)
ECO 372 Week 1 Knowledge Check
ECO 372 Week 1 Discussion Question 1
ECO 372 Week 1 Discussion Question 2
ECO 372 Week 2 knowledge Check
ECO 372 week 2 Team Weekly Reflection Economic Forecasting Pap
er (2 Papers)
ECO 372 Week 2 Discussion Question 1
ECO 372 Week 2 Group Discussion Question
ECO 372 Week 2 Individual Assignment Product Purchases and the
Economy

ECO 372 Final Exam (New)

1. News Story: Workers at a car-manufacturing plant in Flint,

Michigan are laid off because the economy is weak and GM c
ars aren't selling well. GM isn't sure when the plant will reop
en. What type of unemployment describes the workers' situat
ion?
Frictional unemployment
Structural unemployment
Full unemployment
Cyclical unemployment

ECO 372 Final Exam Guide (

Uop)

1) The largest source of household income in the U.S. is obtained fr

om
2) The market where business sell goods and services to househol
ds and the government is called the
3) Real gross domestic product is best defined as
4) Underemployment includes people
A. who work "off-the-books" to avoid tax liabilities B. who are work
ing part time, or not using all their skills at a full-timejob
5) The Bureau of Economic Analysis is responsible for which of the
following?
6) The Federal Reserve provides which of the following data?

ECO 372 Week 1 Discussion Q

uestion 1 (
What is the difference between
real and nominal GDP? Does GDP a
Uop)
ccurately reflect our nations well being? Explain.

ECO 372 Week 1 Discussion Q

uestion 2 (
Unemployment rate measures
the number of unemployed worker
Uop)
s in the labour force. List and explain three types of unemploymen
t. Find the most recent unemployment rate of your state. From a p
ersonal perspective, can you explain your view of the current job
market in your local area?

ECO 372 Week 2 Individual Assignment Produ

ct Purchases and the Economy

You've been debating on making a purchase for yourself. This is a

product you've wanted for a while, but one that requires budgeting
because you will be making monthly payments.
Select a product in which the demand for the product is clearly aff
ected by the strength or weakness of the overall economy such as
new homes, cars, appliances, smart phones, etc.
Write a 1,050- to 1,400-word paper in which you address the follow
ing:
Identify and define two economic indicators that reflect the strengt
h of the economy (e.g. real GDP, unemployment rate, inflation rate,
interest rate, housing starts, etc.).
With these economic indicators in mind, how has the economy aff
ected the demand for and supply of your selected product over the
last 2 years?

ECO 372 Week 1 Individual Assignment Macr

oeconomic Terms

Complete the Macroeconomic Terms.

ECO 372 Week 1 Knowledge

Check
1.The two frameworks conventional economists generally use to an

alyze macroeconomic issues are

2.The relationship between real and nominal interest rate can be e
xpressed by
3.Which of the following economic activities would be included in t
he U.S. domestic gross product (GDP)?
4.Cyclical unemployment is defined as unemployment that results
from
5.The longest business cycle expansion in U.S. history occurred in t
he 10 years from
6.Economics is the study of how
7.Given that diesel cars get much better gas mileage than the typic
al car, an increase in the price of gasoline would be expected to

ECO 372 Week 2 Discussion Q

uestion 1 (
How do Classical and Keynesian
economists differ in their view of t
Uop)
he aggregate supply curve?How does this influence what Classical

and Keynesian economists believe about fiscal policy?

Do you think the current President and Congress were taking Class
ical approach in their fiscal policies? Explain your answer.

ECO 372 Week 2 Group Discussion Question (

Uop)

What is the difference between contractionary and expansionary fi

scal policies? Which is more appropriate today? Explain your answ
er. How might contractionary and expansionary fiscal policies affec
t your organization?

ECO 372 Week 2 knowledge Check

1.The globalized AS/AD curve is the standard AS/AD model with an

added
2.According to Say's Law, people
3.A shift in the long-run aggregate supply curve will change
4.The hypothesis about the macroeconomy that sees the recent pr
oblems with the U.S. economy directly related to the structural pro
blems caused by globalization is referred to as the __________ hypot
hesis.
8.The central difference between the standard theory and the struc
tural stagnation hypothesis when it comes to growth is
5.In 2009, the personal savings rate rose. If the additional savings
were not translated into

ECO 372 Week 2 Team Weekly Reflection Econo

mic Forecasting Paper (2 Papers)

Develop a list of resources you might use to gather historical econ

omic data as well as economic forecast data.
Explain how and why each source is valuable and useful.
Identify any quantitative or qualitative forecasting factors containe
d in the sources.
Discuss this weeks objectives with your team. Your discussion sho
uld include the topics you feel comfortable with, any topics you str
uggled with, and how the weekly topics relate to application in you
r field.
Write a 350- to 1,050-word paper that details your team's findings.

ECO 372 Week 3 Discussion Q

uestion 1 (
What is the difference between
contractionary and expansionary
Uop)
monetary policy? Which is more appropriate today? What are the i
mpacts of this policy on US economy?

ECO 372 Week 3 Group Discussion Question (

Uop)

What are the uses of money?Describe how rapid inflation can

undermine moneys ability to perform its three basic functio
ns. Will current Fed's policy hinder money's ability to perfor
m its three basic functions? Explain your rational.

ECO 372 Week 3 knowledge Check

1.If you expect interest rates to rise, you will want to be holding
Bottom of Form
Top of Form
2.The interest rate is the price paid for the use of a
Bottom of Form
Top of Form
3.Which of the following do policy makers tend to target when setti
ng monetary policy?
Bottom of Form
Top of Form
4.If the Federal Reserve reduced its reserve requirement from 6.5
percent to 5 percent, this policy would most likely

ECO 372 Week 3 Team Assignm

ent
Policy
SelectFiscal
an organization
with whichPaper
the team is familiar.

Write a 1,400- to 1,750-word paper in which you include the f

ollowing:
Research federal government spending and taxes over the last 3-5
years (fiscal policy). Has total government spending increased or d
ecreased? Explain. Have income tax rates increased or decreased?
Explain.
Describe the impact of these fiscal policies on the U.S. economy
Describe the impact of these fiscal policies on your team's selected
organization.
Have other macroeconomic events impacted the economy and/or
your selected organization? If so, explain.

ECO 372 Week 4 Discussion Q

uestion 1 (
Who benefits from a tariff Uop)
or quota? Who loses? What are the posit
ives and negatives of protectionist trade policies? Which policy is b
est right now?

ECO 372 Week 4 Group Discus

sion Question (
Define trade surplus and trade
deficit? How do trade deficits and s
Uop)
urpluses affect exchange rate and the industry in which you work?

ECO 372 Week 4 Individual Assignment Intern

ational Economics Paper
Select an organization that both U.S. and internatio
nal presences.
Write a 1,050- to 1,400-word paper in which you an
swer address the following:
What does the president and congress do to stimul
ate the economy? What does the president and con
gress do to contract the economy?
What does the Federal Reserve do to stimulate the
economy? What does the Federal Reserve do to con
tract the economy?

ECO 372 Week 4 knowledge Check

1.In the long-run framework, budget surpluses
2. The budget deficit or surplus is
3.Deficits and surpluses are best viewed as
4.Suppose the government increases spending by $30 b
illion and raises taxes at by $20 billion at the same time.
Then,
5 Because automatic stabilizers lower transfer payment
s and raise tax receipts as an economy recovers from a
recession, they
6.Most of the government budget is mandatory spendin
g through programs like Medicare and Social Security, a
nd much of the rest is politically difficult to alter. Becau
se of this,

ECO 372 Week 4 Team Reflection Supply Cha

in and Demand Model
Discuss the relationship between supply chain and the s
upply and demand model.
Prepare a 350- to 1,050- word paper detailing the findin
gs of your discussion.

ECO 372 Week 5 knowledge Check

1.In the U.S. current account, most of the trade deficit r
esults from an excess of imported
2.What is the difference between the balance of trade a
nd the balance of payments?
3.If a government has implemented significantly higher
trade tariffs, but does not want this action to affect the
value of its currency, it will
4. During 2007, the United States and Japan announced
possible limits on Chinese imports through higher tariff
rates on Chinese products. To avoid these limits, China
would have to

ECO 372 Week 5 Team Assignment Deficit and

Debt Presentation
Create a 15- to 18-slide PowerPoint presentation i
ncluding detailed speaker notes in which you inclu
de the following:
Research the direction of monetary policy over the last
3-5 years. Has the money supply increased or decrease
d? Explain. Have interest rates increased or decreased?
Explain.
Describe the impact of these monetary policies on the U
.S. economy
Describe the impact of these monetary policies on your
team's selected organization.

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