Econ 222 Presentations to the President
These will take place during the last few weeks of class.
Economists study the relationships between variables. For example, economists might study the relationship between education and income, between investment and exchange rates, or between prices and quantities sold. Macroeconomists are concerned with the relationships between macroeconomic indicators like unemployment, inflation, growth, and the supply or money. Because of their knowledge of these relationships, economists are often asked to provide policy recommendations. For example, should the Federal government raise taxes? If so, on whom?
This assignment provides you with an opportunity to provide your own analysis of the economy. There are two major objectives of this assignment. First, you will demonstrate deep knowledge of the economy, including long- and short- term challenges and opportunities. Second, you will provide policy recommendations, in light of this relationship, on how to achieve desired short- and long-term results. You will be graded on your ability to meet both objectives effectively.
Presentations will take place during the last few weeks of class. As a group of four, you will serve as my economic advisory board and you will both present and answer my questions about the economy. This is a formal presentation, meaning you will need to dress in business attire and maintain a professional demeanor. This is a private presentation and will not take place in front of the entire class.
In your presentation, you will address the following questions:
1. What is the current short-run state of the economy? In this answer, you must address unemployment, inflation, GDP, and other relevant indicators. You should also cover how the variables relate to one another. For example, given our unemployment rate, would we expect our current rate of inflation? Are there any short-run challenges? You must use data and at least four sources. Any macroeconomic indicators must be from official government websites (such as bls.gov or bea.gov). Other sources must be non-biased. Please note that I consider fox news, MSNBC, the Huffington Post, and any “think tank,” such as the Heritage Foundation, biased.
2. What are long-run strengths and challenges in the economy? Make sure you are clear about how the economy’s long-run state may differ from the short-run state. You must use data and at least two sources. The same rules apply to these sources. In your answer, you must consider the natural rate of unemployment, the national debt, and long-run growth rates.
3. What should the government (the President and Congress) do to address any short- or long-run challenges or maintain short- or long-run states? You do not need sources here, as I am expecting you to use common sense and your own interpretations. However, you may choose to use sources here if you wish.
-During the presentation each person must speak at least once.
-After your presentation is over, you will be required to answer questions. I may choose to ask any group member questions.
-You will have between 12-18 minutes to present. I will provide a specific breakdown of time (time for questions, etc.) at a later date.
-I will provide a grading rubric at a later date
-Because the president does not have control over monetary policy, you do not need to address this. In fact, you cannot recommend I use monetary policy. Still, you may wish to reference it in your presentation. For example, is the federal funds rate low? Does this seem to be working? Is this a good sign?
-It is probably not enough to discuss simple measures of the economy. For example, it is probably not enough to simply discuss real GDP growth last quarter. Instead, you should be thinking about where the growth is coming from. Is it coming from consumer spending? Changes in inventories? Another example if thinking about unemployment rates among races or states and about those marginally attached to the labor force.
Presentation To the President Final Instructions and Rubric
Presentations will take place during the last week of class in a separate room on campus. Students will not have access to PowerPoint, but can choose to provide graphs, tables, and figures in a paper format.
Prior to the presentation, each group will hand me a document listing all of the statistics used in the order in which they will be used, properly cited using MLA/APA format. These should be in a list form.
Each group will also hand me a list of all sources used, properly cited using MLA or APA format.
You may either provide me with these documents ahead of time or may hand them to me before you present.
1. Real GDP grew at ____ during quarter 3 of 2014 bea.gov
2. Unemployment during October was __________ bls.gov
United States Department of Labor. 2008 Findings on the Worst Forms of Child Labor – Ghana. September 10, 2009. http://www.refworld.org/docid/4aba3eddc.html (accessed June Accessed 15, 2013).
Each group will have the following time limits:
Presentation 9-13 minutes
Questions 3-5 minutes
Therefore, each group will be meeting with me for 12-18 minutes.
Please note that this document may change slightly if anything needs clarification. However, the main areas of grading will remain the same. Each group will be graded on the following questions using the scale,
HC=Highly Competent C=Competent E=Emerging NC=Not Competent
1. Did some students from the group show up 10 minutes early? (yes/no)
2. Were students prepared?
3. Were students dressed professionally?
4. Did every student participate in the presentation?
5. Did students provide a list of all statistics used prior to the presentation, cited properly using MLA or APA format?
6. Did students provide a list of all sources used, cited properly in MLA or APA format?
7. Did students stay within the 12-18 minute time frame?
8. Did students adequately address unemployment, inflation, GDP, and other relevant indicators to discuss the short-run state of the economy?
9. Did the students demonstrate deep knowledge of the short-run state of the economy, including how unemployment, GDP, and inflation relate to each other?
10. Did the students use at least four sources to get short-run data, and were they high-quality, unbiased sources?
11. Did the students correctly identify and defend short-run challenges and opportunities?
12. Did the students clearly demonstrate knowledge about the difference between the short-run and long-run?
13. Did students adequately address the national debt?
14. Did students adequately address long-run growth rates and issues?
15. Did students appropriately discuss long-run strengths?
16. Did students appropriately discuss long-run challenges?
17. Did the students use at least two sources to get information on long-run strengths/challenges, and were they high quality, unbiased sources?
18. Did the group provide recommendations to solve issues described earlier in the presentation?
19. Are the recommendations realistic?
20. Are the recommendations convincing?
21. If students choose to use sources here, are they clearly laid out, and are they from high quality, unbiased sources?
22. Did students answer questions appropriately?
This is information below from my classmates cause its a group project.
Logan and I have decided that it would be best for us to split the team into 2 sets of 2 people one which researches short run and the other for long run. Refer to the document Professor posted on Blackboard for specifics. At this point from the cursory research we have done it seems that the current state of the economy has us at or near our natural rate of unemployment (5.2~5.5 according to the Fed) and as we learned in class our current inflation rate is almost 0%. In light of this we think the best thing to do as of now is to pursue an expansionary policy in the short run to capitalize on the gains we are currently seeing to GDP with a long run goal of reducing our debt.
You have to use an economic book.