The purpose of this discussion is to tie it all together by analyzing the information you learned in weeks 1, 2 and 3, to make monetary and fiscal policies, relying on the Aggregate Supply and Aggregate Demand model, the AS / IS model.
This 15 minute video provides instructions for this discussion:
The expectation is that you enjoy these discussions and assignments, researching on internet with AI tools such as ChatGPT, Perplexity, Gemini, analyzing the information using the conceptual models, sharing your findings with the rest of the class, and learning from each other. You can commit mistakes, this is experiential learning.
This exercise is an invitation to explore the thinking of the Secretary of the Treasury. If you find that the graphs are hard to understand: don’t panic, just enjoy the exercise, experiment, do your best. You can definitively use AI tools such as ChatGPT, or Perplexity, or any other if you have doubts.
1. In week 1, we discussed how external factors impact supply and demand; in deciding your policies, you must consider the external factors discussed in week 1 (political, economic, technological, natural, international, etc.).
2. In week 2, we discussed economic indicators. You need to explain how your monetary and fiscal policies impact on economic indicators. You must select a couple of economic indicators from week 2, such as:
- Balance of Trade
- Budget Deficit / Surplus
- Business Inventories
- Business Investment
- Capacity Utilization Rate
- Consumer Confidence
- Consumer Credit Growth
- Energy Prices
- Exchange Rates
- Existing and New Home Sales
- Gross Domestic Product
- Housing Starts
- Income Inequality
- Industrial Production
- Inflation Rate
- Initial Jobless Claims
- Interest Rates
- National Debt-to-GDP Ratio
- Personal Consumption Expenditures
- Producer Price Index
- Productivity
- Retail Sales
- Stock Market Indices
- Unemployment Rate.
3. In week 3, we discussed national accounts. In your response you will explain the impact of your monetary and fiscal policies on the national accounts: Y = C + I + G + (X – M), considering the views of consumers, businesses, importers, exporters, and the government.
4. Now you must decide your monetary and fiscal policies.
You must decide on the monetary and fiscal policies and explain your decision using the theory and graphs shown below: expansion or contraction or no government intervention.
By Friday you must post in the discussion forum a short essay with the following structure, so other students can give you their feedback:
1. Theory.
Personal opinions are not welcomed: YOU MUST USE THE THEORY.
One third of your essay must explain the theory of the week. You must rely on the textbook, including at least two quotes with paragraphs and / or graphs from the textbook, citing the pages, demonstrating your knowledge of chapters 33 – 36.
2. Research.
You must provide information to support your views. Only one-third of your information can come from the Internet. You can use AI, clearly identifying the source (APA format).
3. Analysis and conclusions.
You must use the theory from the textbook to analyze your case and state your conclusions.
You must explain the impact of your policies on the economic indicators and on the national accounts. To do that, you will rely on the AS / AD model.
You must explain the impact of your decision relying on the Quantitative Theory of Money formula
M V = P Q
Use the Phillips Curve to explain the short-run impact of your policies on inflation and employment.
Here you have some graphs; if you need more, you can check for more graphs on the textbook, or the Powerpoints, or search for them using Google Image, or ChatGPT, or Perplexity, or Gemini.
4. Sources, references, APA format.
Artificial Intelligence tools such as ChatGPT, Perplexity, Gemini or others, are great tools that you can use, with some considerations.
You must do your work, as the syllabus indicates, incorporating the Theory that you learned, Research done by you, your own Analysis and Conclusions. AI can help enrich your work and expand your views.
You need to honor intellectual property, state your sources to avoid the risk of plagiarism, clearly indicating in your work what your production is, and what AIs production is. Please read and apply APA standards
If your instructor identifies plagiarism, he or she may request you to rewrite the post, set up a conference call to make sure you are familiar with the concepts, in addition to deducting points and eventually pressing charges of plagiarism.
Rubric.
You are required to post your main post and respond to at least two peers, to make a minimum of three posts totaling at least 500 words. Failure to meet these minimum posting requirements results in point loss. Include a word count on each post. Each post submitted should be between 150 and 250 words. All of your posts should sum to a minimum of 500 words.
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