Apply macroeconomic models to historical and current events for drawing connections between the events and their economic impact

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. 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.

III. 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

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.

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 Three Rubric. Final Project: Economic History Analysis Presentation In Module Seven, you will submit your final project. It will include new research on foreign trade practices (Section I, part d), will draw conclusions (Section III), and integrate all milestones and feedback. It should be a complete, polished artifact containing all of the critical elements of the final product.

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.

3) Incorporate and integrate this information with the slides developed during Milestones One, Two, and Three into a 15–20-slide presentation that covers all the critical elements of the assignment. Be sure to include speaker notes to accompany all of your responses.

4) Apply APA formatting to citations and references.

The final project will be graded using the Final Project Rubric.

Deliverables

Milestone Deliverables Module Due Grading

1 Macroeconomic Data Report Two Graded separately; Milestone One Rubric

2 Fiscal Policies Report Four Graded separately; Milestone Two Rubric

3 Monetary Policies Report Five Graded separately; Milestone Three Rubric

Final Submission: Economic History Analysis Presentation

Seven Graded separately; Final Project Rubric

Final Project Rubric Guidelines for Submission: Your economic history analysis presentation should be 15–20 slides, including title and reference slides, and include speaker notes to accompany the slides. Your reference list slide needs to be in APA format.

Critical Elements Exemplary (100%) Proficient (85%) Needs Improvement (55%) Not Evident (0%) Value

Examination: GDP: Growth Rates and

Trends

Meets “Proficient” criteria and explains relevance of the growth rates observed

Accurately analyzes the annual GDP during the time frame to calculate specific growth rates and trends in the U.S. economy and provides information in speaker notes

Analyzes the annual GDP during the time frame to calculate specific growth rates and trends in the U.S. economy, but analysis is inaccurate, or does not provide information in speaker notes

Does not analyze the annual GDP during the time frame

6.4

Examination: GDP: Influenced National

Output

Meets “Proficient” criteria and offers a nuanced insight into the relationship between events and national output

Applies specific models developed throughout the course to demonstrate how relevant historical and/or current events have influenced national output during the time period, and provides information in speaker notes

Applies specific models developed throughout the course to demonstrate how relevant historical and current events have influenced national output during the time period, but events chosen are not relevant, or does not provide information in speaker notes

Does not apply specific models developed throughout the course to demonstrate influence on national output

6.4

Examination: Unemployment and

Inflation: Output and Growth

Meets “Proficient” criteria and explains how data is collected and calculated

Analyzes unemployment and inflation data during the time frame in their relation to output and growth, using macroeconomic principles and models to explain their effect, and provides information in speaker notes

Analyzes unemployment and inflation data during the time frame, but does not relate analysis to output and growth, does not use macroeconomic principles and models to explain their effect, or does not provide information in speaker notes

Does not analyze unemployment and inflation data during the time frame

6.4

Examination: Unemployment:

Events

Meets “Proficient” criteria and offers a nuanced insight into the relationship between events, unemployment, and inflation

Applies specific models developed throughout the course to demonstrate how relevant historical/or and current events have influenced both unemployment and inflation during the time period, and provides information in speaker notes

Applies specific models developed throughout the course to demonstrate how relevant historical and current events have influenced both unemployment and inflation during this time period, but events chosen are not relevant, or does not provide information in speaker notes

Does not apply specific models developed throughout the course to demonstrate relevant events’ influence on unemployment and inflation

6.4

Examination: Interest Rate Fluctuations

Meets “Proficient” criteria and relates fluctuations to all other factors of the economy

Analyzes interest rate fluctuations throughout the time period and their effect on other aspects of the economy, such as inflation, investment, foreign trade, and the GDP, and provides information in speaker notes

Analyzes interest rate fluctuations throughout the time period, but does not relate this to their effect on other aspects of the economy such as inflation, investment, foreign trade, and the GDP, or does not provide information in speaker notes

Does not analyze interest rate fluctuations throughout the time period

6.4

Examination: Foreign Trade: Imports and

Exports

Meets “Proficient” criteria and provides specific detail in presenting the data

Accurately analyzes data representing levels of U.S. imports and exports during the time period as they relate to other economic outcomes, and provides information in speaker notes

Analyzes data representing levels of U.S. imports and exports during the time period, but does not relate data to other economic outcomes, does not provide information in speaker notes, or analysis is inaccurate

Does not analyze data representing levels of U.S. imports and exports during the time period

6.4

Examination: Foreign Trade: Models

Meets “Proficient” criteria and offers a nuanced insight into the relationship between events and changes in imports and exports

Applies specific models developed throughout the course to demonstrate how domestic and foreign events have impacted the level of and changes in imports and exports in the United States, and provides information in speaker notes

Does not apply specific models developed throughout the course to demonstrate impact of domestic and foreign events on foreign trade

6.4

Government Policies: Fiscal: Policies

Meets “Proficient” criteria and cites scholarly research to support the relation between the policies and the issues

Examines the fiscal policies in place at the start of the specific time period in relation to their effects on macroeconomic issues, and provides information in speaker notes

Examines the fiscal policies in place at the start of the specific time period, but does not relate this to their effects on macroeconomic issues, or does not provide information in speaker notes

Does not explain the fiscal policies in place at the start of the specific time period

6.4

Government Policies: Fiscal: Policy Actions

Meets “Proficient” criteria and is well qualified and cites scholarly research with specific examples and references

Analyzes new fiscal policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, uses macroeconomic principles to explain the actions, and provides information in speaker notes

Analyzes new fiscal policy actions undertaken by the U.S. government throughout the time period, but does not describe their intended effects, does not use macroeconomic principles to explain the actions, or does not provide information in speaker notes

Does not analyze new fiscal policy actions undertaken by the U.S. government throughout the time period

6.4

Government Policies: Fiscal: Impact

Meets “Proficient” criteria and uses concrete examples to substantiate claims and to comprehensively describe the policy results

Comprehensively explains the impact of the new fiscal policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles, and provides information in speaker notes

Explains the impact of the new fiscal policy actions on individuals and businesses within the economy, but is not comprehensive, does not integrate the macroeconomic data and principles, or does not provide information in speaker notes

Does not explain the impact of the new fiscal policy actions on individuals and businesses within the economy

6.4

Government Policies: Monetary: Policies

Meets “Proficient” criteria and cites scholarly research to support the relation between the policies and the issues

Examines the monetary policies in place at the start of the selected time period in relation to their effects on macroeconomic issues, and provides information in speaker notes

Examines the monetary policies in place at the start of the selected time period, but does not relate them to their effects on macroeconomic issues, or does not provide information in speaker notes

Does not examine the monetary policies in place at the start of the selected time period

6.4

Government Policies: Monetary: Policy

Actions

Meets “Proficient” criteria and is well qualified and cites scholarly research with specific examples and references

Analyzes new monetary policy actions undertaken by the U.S. government throughout the time period by describing their intended effects, uses macroeconomic principles to explain the actions, and provides information in speaker notes

Analyzes new monetary policy actions undertaken by the U.S. government throughout the time period, but does not describe their intended effects, does not use macroeconomic principles to explain the actions, or does not provide information in speaker notes

Does not analyze new monetary policy actions undertaken by the U.S. government throughout the time period

6.4

Government Policies: Monetary: Impact

Meets “Proficient” criteria and uses concrete examples to substantiate claims and to comprehensively describe the policy results

Comprehensively explains the impact of the new monetary policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles, and provides information in speaker notes

Explains the impact of the new monetary policy actions on individuals and businesses within the economy, but is not comprehensive, does not integrate the macroeconomic data and principles, or does not provide information in speaker notes

Does not explain the impact of the new monetary policy actions on individuals and businesses within the economy

6.4

Conclusion: Trends and Outcomes

Meets “Proficient” criteria and highlights specific examples to demonstrate trends and outcomes

Summarizes the overall trends and outcomes of the 10-year period by effectively integrating the data, economic models, and historical analysis, and provides information in speaker notes

Summarizes the overall trends and outcomes of the 10-year period, but does not integrate the data, economic models, and historical analysis effectively, does not apply all three elements, or does not provide information in speaker notes

Does not summarize the overall trends and outcomes of the 10- year period

6.4

Conclusion: Agreement or Disagreement

Meets “Proficient” criteria, and point of view is well supported and plausible

Defends whether the student agrees or disagrees with the actions taken by the U.S. government during the selected time period based upon student’s analysis and application of the macroeconomic theories, and provides information in speaker notes

Does not defend whether the student agrees or disagrees with the actions taken by the U.S. government during the selected time period

6.4

Articulation of Response

Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format

Submission has no major errors related to citations, grammar, spelling, syntax, or organization

Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas

Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas

Earned Total 100%

Apply macroeconomic models to historical and current events for drawing connections between the events and their economic impact

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