ECO 203 Week 5 Final Paper Expansionary Economic Policy

This document comprises ECO 203 Week 5 Final Paper Expansionary Economic Policy

Expansionary Fiscal Policy:

Review Chapter 7: Classical Macroeconomics and the Keynesian Challenge and Chapter 9: Taxes, Government Spending, and Fiscal Policy.

Explain the actions the federal government would take while engaging in expansionary fiscal policy in terms of the following:

The necessary change in taxes and government spending. The effect on aggregate demand. GDP. and employment.

In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Describe the actions the government would take in conducting expansionary fiscal policy and expansionary monetary policy.

Final Paper

Expansionary Monetary Policy:

Review Chapter 12: Banking and The Federal Reserve System and Chapter 14: Monetary Policy In Theory And Practice.

Identify the three tools available to the Federal Reserve Bank (The Fed) when conducting monetary policy. Explain whether the Fed would:

Increase or decrease the required reserve ratio Increase or decrease the discount rate Buy or sell government securities when conducting expansionary monetary policy.

Explain how these actions would affect the money supply, interest rates, spending, aggregate demand, GDP, and employment.

Writing the Final Paper

The Final Paper:

1. Must be 5 to 6 double-spaced pages in length and formatted according to APA style as outlined in your approved style guide.

2. Must have a cover page that includes:

a. Title of paper

b. Student’s name

c. Course name and number

d. Instructor’s name

c. Date submitted

3. Must include an introductory paragraph with a succinct thesis statement.

4. Must address the topic of the paper with critical thought.

5. Must conclude with a restatement of the...

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Economics - General Economics Economics Systems . Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree?

Reference: Chapter 1, section 1.1: Economics and Chapter 2, section 2.1: Limited Resources.

Guided Response: Review and respond to at least two of your classmates’ posts by replying to their posts on how a college education contributes to human capital and the opportunity cost of a degree. Be sure to refer to concepts found in the reading when responding to your classmates.

Role of Government . Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent).

In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets.

Discuss whether you favor a larger or smaller role of government in the economy. Refer to concepts found in the reading to support your opinion.

Reference: Chapter 2: Markets, Governments, and Nations: The Organization of Economic Activity

Guided Response: Review and respond to at least two of your classmates’ by stating why you agree or disagree which economic activities the government is more efficient at providing, and which economic activities the private sector is more efficient at providing.

The Current State of the Economy and Unemployment. Imagine a scenario where there is a decline in aggregate demand. Identify which part of the business cycle is part of a decline in aggregate demand. Gross Domestic Product (GDP) measures the amount of new production. A change in the amount of new production affects employment. Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a d...