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ECO 372 Final Exam

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ECO 372 Week 1

Week 1 - Complete

DQ 1. Using the Bureau of Labor Statistics, the Federal Reserve Bank of St. Louis, or other reputable source, select a key economic indicator that has not been discussed by another student. Discuss how the indicator was created and its current value. What does this key indicator say about the current economic condition?

DQ 2. What is the difference between real and nominal GDP? Does GDP accurately reflect the nation's welfare? Why or why not? How can data on a country's GDP be used to make a political argument? In your opinion, how much does this happen in the public arena? Please explain your answer.

DQ 3. Identify economic factors that affect the real GDP, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes?

ECO 372 Week 2

ECO/372 - Week 2 - Complete

DQ 1. Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why?

DQ 2. What is the economy's current stage in the business cycle? Support your answer with an article written within the last week from the popular press or blog. In light of the text readings, evaluate the article and the source of the article. Based on the information, determine where the economy fits in the business cycle.

DQ 3. Recessions seem to show up every so often and create economic hardship. One might think that macroeconomic policymakers could tame the business cycle and implement policies that would end recessions. Are recessions a necessary fact of macroeconomic life? If not, what would it take to eliminate them? If they are unavoidable, what types of business can benefit from them? How would a recession affect your firm?

ECO/372 - Week 2 - DQ 1 (3 Responses) | ECO/372 - Week 2 - DQ 2 (3 Responses) | ECO/372 - Week 2 - DQ 3 (3 Responses) | ECO/372 - Week 2 - Fundamentals of Macroeconomics Paper |ECO/372 - Week 2 - Economic Forecasting Paper | ECO/372 - Week 2 - Complete |

ECO 372 Week 3

ECO/372 - Week 3 - Complete

DQ 1. What happens to the money supply, interest rates, and the economy if the Federal Reserve is a net seller of government bonds? What happens to the money supply, interest rates, and the economy if the Federal Reserve is a net buyer of government bonds? Why would the government implement a stimulus program into the economy?

DQ 2. What new measures and tools has the Federal Reserve employed in the past several years that have not been employed in the past 2 decades? How do you evaluate the change in the approach? Is this sustainable and appropriate in the medium term?

ECO/372 - Week 3 - DQ 1 (3 Responses) |ECO/372 - Week 3 - DQ 2 (3 Responses) | ECO/372 - Week 3 - DQ 3 (3 Responses) |

ECO/372 - Week 3 - Aggregate Demand and Supply Models |

ECO/372 - Week 3 - Learning Team Weekly Reflection |

ECO/372 - Week 3 - Complete |

ECO 372 Week 4

ECO/372 - Week 4 - Complete

DQ 1. What are the positive and negative aspects of budget deficits and surpluses? What policy is best for today's economy? Explain your answer.

DQ 2. How does a government budget surplus affect the U.S. economy? Identify two periods in recent history in which the United States has run budget surpluses. What were the reasons for the surpluses during those time periods?

ECO/372 - Week 4 - DQ 1 (3 Responses) | ECO/372 - Week 4 - DQ 2 (3 Responses) | ECO/372 - Week 4 - DQ 3 (3 Responses) | ECO/372 - Week 4 - Learning Team Reflection | ECO/372 - Week 4 - Federal Reserve Presentation | ECO/372 - Week 4 - Complete |

ECO 372 Week 5

ECO/372 - Week 5 - Complete

DQ 1. Explain how foreign exchange rates are determined. How do changes in interest rates, inflation, productivity, and income affect exchange rates? What are the advantages and disadvantages of a weak versus a strong dollar for imports, exports, international and domestic markets?

Please use a current example of an exchange rate [Swiss Franc-Euro, US Dollar - Japanese Yen, etc] and describe how it affects the two [or more] countries involved.

DQ 2. As was seen during the financial crisis of the 1930s, and in recent history, markets are interconnected globally. Aside from financial markets, different countries have different resources. Choose a country other than your own, which has not already been selected by another student, and research the EIU country data. Based on absolute advantage and comparative advantage, explain the effect of global economic conditions on the choices available to that country. You must include the current exchange rate of the country's monetary unit.

DQ 3. Review the U.S. Trade Representatives website at http://www.ustr.gov/trade-agreements/free-trade-agreements. Select a country or trading bloc with which the United States has a current or pending free trade agreement. What are areas of comparative advantage of the United States and its trading partner? What are the benefits and disadvantages specific to this free trade agreement?

ECO/372 - Week 5 - DQ 1 (3 Responses) | ECO/372 - Week 5 - DQ 2 (3 Responses) | ECO/372 - Week 5 - DQ 3 (3 Responses) | ECO/372 - Week 5 - International Trade and Finance Speech | ECO/372 - Week 5 - Fiscal Policy Paper | ECO/372 - Week 5 - Complete |

ECO 372 - Final Exam

1. News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation?

 Frictional unemployment

 Structural unemployment

 Full unemployment

 Cyclical unemployment

2. Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:

 A reduction in the debt ceiling

 Goods price inflation

 Asset price inflation

 Goods price deflation

3. Macroeconomics is:

 The study of aggregate economic relationships.

 An analysis of economic reality that proceeds from the parts to the whole.

 The study of pricing policies of firms and the purchasing decisions of households.

 The study of individual choice and how that choice is influenced by economic forces.

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