US Economy is Entering a Recession
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See the table on page 2 for the subject." PAPER TOPIC: Application of Aggregate Supply and Demand model. Apply Aggregate S/D concepts to events in the real world. Your job in this paper is to explore the possibilities that the US economy is entering a recession and give the reasons why or why not. And, to explain what actions the Federal Reserve could take [MONETAARY POLICY] and the US Congress could take [FISCAL POLICY], if a recession were immanent, [that is, to explain the policy, how it works and why you would use it at this time].
Is it your opinion that we about to enter a recession. Give the reasons why or why not. This means you must research leading and lagging indicators of recent time. It also means you must research the definition of recession to know what to look for. "
This is an application of Aggregate Supply and Demand, and [to a lesser extent] the basic Supply and Demand concepts (tools) to a real world situation. You are expected to research the definition of a 'recession', what has happened in the market recently, how the economy is expected to perform now and in the future. This means looking into expectations of changes that will affect Aggregate Supply and Demand ; and thus, will effect inflation, unemployment and growth.)
Draw your Aggregate Supply and Demand graph before the changes discussed in your paper — and any individual market supply and demand graphs you feel are relevant. Start with equilibrium and then show the changes that occurred. You do not have to use 'real' prices and quantities in your graph. Describe what happened and why. Label all axes and lines. Define your symbols. Be sure to explain any differences between a movement along a supply or demand curve (change in quantity demanded or supplied) and shift of the demand/supply curve. Be prepared to discuss this assignment in class. Remember that a graph is meaningless unless you discuss it in your paper. You may leave space and pencil in your graphs. Points will be lost for failure to label, for failure to define symbols, and for failure to discuss the significance of any quote you use. Long quotes and the use of many quotes tell the reader that you do not understand the quote.There is no word limit. It should be however long it needs to be for you to get the job done, and no longer.
Style is up to the author, however, whether you use footnotes or some other style, you must document cites and sources clearly. References are required for each number that you did not personally develop. A reference is also required for each quote and for ideas used which are not your own.
Writing a good paper.
• Write from an outline. Let me repeat that, because it's really helpful: write from an outline. I know of no one who can reel off a coherent paper more than one page long without some kind of strategy. You must use Headings and sub-headings. This will ensure your reader knows exactly where you are going with your thoughts.
• You will include an Introduction/Summary. Don't even try to write the introduction until
after the rest of the paper is written. Only then will you really know what it was you said,
and be able to summarize it. A typical outline would something like this:
I. Introduction and Summary —
II. Statement of the Problem: here you develop and summarize the topic , what
are you trying to accomplish?
III. Research and Theoretical Models Used. How you addressed the problem:
here you discuss what you researched and how, what theoretical models you
used and how they work (mainly aggregate supply and demand model, what
assumptions went into the model.) Also what other research you conducted,
like your research into inflation, growth, leading or lagging economic
IV. Research Findings: here you describe the outcome of the model, and
discuss what that means in terms of expectations regarding whether or not
there will be a recession. Also here you combine the research results on
leading and lagging macro variables and how that influenced your model's
assumptions and/or how these relate to your conclusion about recession.
Remember, that the AS/AD model gives you inflation, output (growth) and
unemployment information. You may use symbols or hypothetical numbers
in describing your outcomes. You may also leave space and draw in your
V. Summary; here you discuss the policy implications of your findings in III and
IV. This section will also be used and useful to write the section I.
• Stick to the subject. IF, for example, the subject had been monetary policy over the past
ten years, do not give a history of the Federal Reserve, regardless of how interesting you
might have found that history to be. Stick to the POLICY (definitions, trends of economic
variables, etc, are all relevant, but personal histories, or how the FED came into being is
not.) Remember that a paper that is written about something other than what you expect
regarding a recession and why, will get an automatic zero.
• The important points should appear at least twice or maybe 3 times: once in the
introduction, again in the body of the paper (where you explained it in detail), and finally
in the conclusions (where you summarize implications of this 'point1).
• Think about the Economic theory that will be incorporated. Look at the textbook and the
objectives of the chapters. Think about where and how you will introduce graphs to
illustrate your point. You will need graphs to illustrate the theoretical part.
Remember that graphs are meaningless unless they are labeled and discussed... All numbers and charts mustt be sourced. If in doubt about how to label, just look at how your text deals with labeling of graphs. Label all axes and lines. Define your symbols or you will lose at least 2 points for every symbol used and not defined.
• Speaking of sourcing. Plagiarism will not be tolerated. This will get you an automatic
zero on the paper. Don't' forget that five or more words from any source must be in
quotations and cited or it is plagiarism. The best rule of thumb: just give credit where
credit is due