Homework: Economic Principles- Macroeconomics
It is important to be able to convey your understanding of macroeconomic concepts by communicating them to others. In the workplace you might do this by writing papers or reports (as you did for the homework) or creating presentations for your team, manager, or clients. For this homework, you will develop a report.
An Example Macroeconomic Paper and Macroeconomic Paper Template are provided below for this homework.
i. Review the Macroeconomic Paper Example.
ii. Use the Macroeconomic Paper Template to help you get started.
For this final report homework, you can use the same industry you selected for the Week 3 homework, or you can select another industry.
I. Prepare a 2 to 3 page final report in which you examine one of the macroeconomic variables below:
i. Real Gross Domestic Product (GDP).
ii. The unemployment rate.
iii. The inflation rate.
Instructions
I. Visit the Census Bureau (NAICS) website and select an industry that has a description. Some of the smaller industries are named, but not described.
i. The industry could be broad, such as industry 11 Agriculture, Forestry, Fishing and Hunting, or it could be narrow, such as industry 112112 Cattle Feedlots.
o The more digits in the industry label, the narrower the industry.
In a few short paragraphs:
I. Describe your selected industry using the industry description at the NAICS website. Be sure to write in your own words. Don't just copy and paste the NAICS text.
i. Identify some of the major companies in this industry. You will probably have to do a Google search for this information. For example, you could search for "Biggest U.S. Cattle Feedlots.
ii. Identify the goods, and/or services this industry produces. Use the information from the NAICS website. You can supplement this information with what you find in a separate Google search.
II. Select one of three macroeconomic variables (real GDP, the unemployment rate, or the inflation rate) that a business person in your chosen industry should monitor, and explain why that variable is important and how it might have an impact on your selected industry.
III. Describe in a sentence or two the important movements of the variable in the table and graph.
i. Excel tables and graphs are attached for each of the three macroeconomic variables (real GDP, the unemployment rate, and the inflation rate).
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.