Assignment: Principles of Macroeconomics
Module 1 Discussion
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After watching the video clip from A Knight's Tale, consider the effect of choosing consumption today versus consumption in the future. Using the PPC as a springboard for your analysis, what effect would forgoing consumption today in order to invest for tomorrow have on future production possibilities? Now consider the choices our government faces when it has limited tax revenues to fund the unlimited wants of its citizens. Describe some of the choices the government makes between consumption today and investment for tomorrow.
Module 2 Discussion
After the reading the Issues & Applications in your etext: Interpreting Employment Data as the Gig Economy Grows and researching online how Social Security, Medicare, and unemployment insurance are more specifically funded, please answer the following questions:
a. Why might the U.S. government, which funds Social Security, Medicare, and unemployment insurance programs by taxing wages, desire to find a way to reduce self-employment and inhibit the growth of the gig economy?
b. Do you see the growth of the gig economy as a positive or negative trend in the economy? Explain.
Module 3 Discussion
Compare the ranking of U.S. GDP (purchasing power parity) to that of other countries by visiting the CIA's World Factbook.
After reading the article U.S.A comes up a bit short in global Better Life Index and comparing the relative ranking of U.S. GDP to other countries, what is the link between wealth and well-being? Do governments have a responsibility to address well-being?
Module 4 Discussion
After researching the latest consumer confidence estimates, in addition to the latest unemployment and inflation estimates, do you estimate good or bad times ahead for the U.S. economy in the next five to ten years? You are being asked to consider economic growth (ie the growth of real GDP). Please be specific in your analysis as to what aspects you believe most contribute to your positive or negative outlook.
The latest consumer confidence estimates can be found and the latest unemployment and inflation data under Latest Numbers.
Optional activity: Play the Federal Reserve's economic forecasting game! You can enter specific forecasts on various economic variables and compete nationwide.
Module 5 Discussion
After watching the video Generational Theft regarding our nation's debt situation and the impact of entitlements like Social Security and Medicare, consider our Saint Leo core values of responsible stewardship and community and answer the following questions:
1. What responsibility do we have as a society to help the elderly and disabled?
2. What potential changes could the federal government enact to help the viability of both programs?
Module 6 Discussion
Search the Internet and watch the first 6 minutes of PBS Idea Channel's video: Are Bitcoins and Unusual Hats the Future of Currency?
Consider the functions of money as well as the risks inherent in traditional fiat currency. After watching the video, consider the following questions: Do alternative currencies have real world worth? What are the pros and cons of the expanding popularity and acceptance of these forms of money?
Module 7 Discussion
After listening to the audio clip WTO sides with U.S. in Poultry Dispute with China, consider the full impact of a restriction on trade such as a tariff. Do trade restrictions evoke retaliation by trade partners, and how would this affect the gains from trade?
To begin your research on some of the trade disputes brought before the WTO. What is the nature of the claim, and does the action by the defendant impede free trade and therefore deserve scrutiny?
Module 8 Discussion
Watch the NBC Learn video clip Some U.S. Businesses Profit from a falling Dollar regarding the depreciation of the U.S. dollar during the last recession. Your text mentions various factors that influence the value of a currency. Consider the effect of perceptions of economic stability. As the U.S. economy weakens, foreign investors demand less dollars.
a. How does the lower demand for U.S. dollars affect the value of the U.S. dollar, and consequently, is this good or bad for U.S. businesses looking to sell abroad?
b. Discuss another real-world example of how changing currency values have affected people's daily lives.