Assignment:
In previous assignments you researched the economic situation in terms of three primary macroeconomic variables: GDP, employment, and changes in the price level. You also evaluated how fiscal and monetary policy was used during three economic events in the history of the United States.
The Great Depression years of 1929 to 1933
The 1970s Stagflation from 1973 to 1982
The recent recession that occurred in the years 2008 to 2010
In this final paper of 5 to 7 pages in length, you will draw on each of the earlier assignments (including integrating any feedback you received from your instructor) and provide a final summary paper. Your paper should include the following:
A summary of the three historical events in terms of the economic concepts you have learned in this course.
A discussion and analysis of what economic policies "worked" versus what "failed" in each of those three events.
An analysis of current economic conditions in the United States. What is the current state of the United States economy and what challenges does the country face? How do you see this situation evolving over the next ten years? Using what have learned in your historical analysis of previous economic eras, make a forward-looking recommendation regarding what policies you believe would benefit the United States the most over the next ten years. This section should include your thoughts about fiscal and monetary policy. In addition to stating your policy recommendations, be sure to include an explanation of why you believe it is the "best path" from the standpoint of economic performance.