Grassroots
Sample Essay Questions with Short Discussion
N. Gregory Mankiw, Intermediate Macroconomics, Worth Publishers. http://bcs.worthpublishers.com/mankiw5 Abstract
These short essay questions and suggested answers are from the Worth Publishers website associated with the fifth edition of N. Gregory Mankiw, Intermediate Macroeconomics.
They are provided without any guarantee. Please check for typos, errors, omissions and report back. These essay questions are generally quite short and the suggested answers are merely a sketch. In this course, you are generally expected to provide more detailed discussions.
In particular, you are expected to state all the assumptions underlying a particular model, to define the variables in words, and to illustrate with thoroughly labelled graphs. None the less, these suggested answers may provide a good starting point in your studies. A good discussion will use real-world examples to illustrate the accuracy of the models’ predictions — the textbook contains case studies that can serve as a basis, you may also search elsewhere, e.g. the list of blogs I have provided (Note : if you read a wikipedia article, always double-check its correctness). Note also that essay questions may sometimes be open to interpretation; in such cases, to avoid ambiguities and misunderstandings, you should rephrase the question — if the question is very general, make it more specific by considering examples. It is good practice to accompany every model prediction with some supporting/contradictory facts. Lastly, don’t ramble — write in clear, short sentences and make sure you don’t circle around but actually answer a question.
1
Mankiw, Sample Essay, Chapter 1, Question 1
The business cycle is the economist’s metric for describing the current state of the economy : Ranging from economic boom to recession. How would you describe the U.S. economy’s current position in the business cycle ?
Answer
See recent newspaper (NY Times or Wall
N. Gregory Mankiw, Intermediate Macroconomics, Worth Publishers. http://bcs.worthpublishers.com/mankiw5 Abstract
These short essay questions and suggested answers are from the Worth Publishers website associated with the fifth edition of N. Gregory Mankiw, Intermediate Macroeconomics.
They are provided without any guarantee. Please check for typos, errors, omissions and report back. These essay questions are generally quite short and the suggested answers are merely a sketch. In this course, you are generally expected to provide more detailed discussions.
In particular, you are expected to state all the assumptions underlying a particular model, to define the variables in words, and to illustrate with thoroughly labelled graphs. None the less, these suggested answers may provide a good starting point in your studies. A good discussion will use real-world examples to illustrate the accuracy of the models’ predictions — the textbook contains case studies that can serve as a basis, you may also search elsewhere, e.g. the list of blogs I have provided (Note : if you read a wikipedia article, always double-check its correctness). Note also that essay questions may sometimes be open to interpretation; in such cases, to avoid ambiguities and misunderstandings, you should rephrase the question — if the question is very general, make it more specific by considering examples. It is good practice to accompany every model prediction with some supporting/contradictory facts. Lastly, don’t ramble — write in clear, short sentences and make sure you don’t circle around but actually answer a question.
1
Mankiw, Sample Essay, Chapter 1, Question 1
The business cycle is the economist’s metric for describing the current state of the economy : Ranging from economic boom to recession. How would you describe the U.S. economy’s current position in the business cycle ?
Answer
See recent newspaper (NY Times or Wall