Category: Economics

For this discussion, play your second run of the Macroeconomics Simulation: Econland (from Harvard Business Publishing), in which you act as a the chief economic policy advisor for the fictional country of Econland. Select either the Rollercoaster or Stagnation scenario option. You may play the simulation as many times as you like. This will directly support your success in your course project, due in Module Eight.
In your initial post, include an image of your simulation report. (See Module Seven Simulation Discussion Screenshot Instructions PDF.) Then address the following:
Share your experience in the simulation. In your opinion, which policy decisions were more successful and why?
Why does the simulation provide you with a global economic outlook for each year? How does an open economy versus a closed economy impact government policy decisions? Use information from the textbook or the news to support your answer.
At the end of each year, the simulation highlights changes in consumer confidence. Why is the economic indicator “consumer sentiment” relevant for making successful policy decisions? Use news sources to support your answer.
In your responses, comment on at least two posts from your peers, and compare and contrast your simulation experience and analysis. Refer to the textbook to support your decisions and your claims related to open economies and consumer confidence.
I attached the game for this discussion
peer 1) It’s good to see that the citizens of Econoland are grumpy no matter which version of the simulation you play through! I played through the Rollercoaster version, and I actually found it easier to manage the different factors that in the first playthrough. I failed miserably in keeping my budget under control, but my unemployment was more or less constant as was my GDP after the second year. Years 2 and 3 saw inflation spike but for the most part, it also stayed in the same general range. I found the Government spending criteria the most difficult to pin down. When I would raise the amount by what I believed would keep pace with inflation or reduce the deficit, the game would tell me that the increase was unrealistic, but if I kept it to a smaller amount, my wrap up report for the year said I was not increasing it enough to off set inflation.
The global economic outlook for each year is important since the simulation assumes an open economy that will interact with the rest of the world. Economic advisors look at global performance and factors like interest rates when making decisions and long-term plans. It also allows for a general gauge of the health of the global economy since in an open economy, each country is dependent on each other to a certain extent (Principle 5: Trade can make everyone better off.). (Mankiw, 2021) The global economic outlook is also a good tool to alert policy makers to any potential economic issues in the world. For example, civil unrest in the Middle East has the potential to affect oil prices so being aware of the geo-political situation helps to make informed policy decisions.
Consumer sentiment can be a tricky thing. Frequently, the people making economic decisions are elected officials and if consumers are pessimistic about the way the economy is trending, there is a good chance that voters will decide that they shouldn’t keep making those decisions at election time. The current US economy is a good example. In 2022 inflation reached the highest levels in a long time. Recent reports have shown that traditional data points that are used to measure the economy are generally improving month over month.(Radcliffe, 2024) However, the public is still unhappy with the state of the economy. This article from ABC News posits that it isn’t that people aren’t aware of the traditional factors but more that they have different priorities after the COVID 19 pandemic. Their research found that people are less concerned about the state of the GDP and more concerned with things that affect their day to day lives, like gas prices, median household income, food and energy costs (which have both been stubbornly high in the last few years). (Radcliffe, 2024)
It’s worth noting that while traditional measures of economic health are important, examining how we think about them and how people relate to them is also vital. We were all isolated to varying degrees during COVID and that changed our relationships with money and with each other. People are increasingly thinking about things that large corporations have allowed us to assume is normal (i.e. Intuit/TurboTax charges for tax preparation, but you can file for free at the IRS website and there are community groups that will assist for a nominal fee or for free).  It remains to be seen how the current economic situation will resolve but one thing that is clear, we need to rethink how we assess and communicate about the economy.
Mankiw, N.G. (2021). Principles of Economics (9th Edition). Cengage Learning
Radcliffe, M., Potts, M., & Rogers, K. (2024, June 18) It’s not just vibes. Americans’ perception of the economy has completely changed. Abcnews.com. https://abcnews.go.com/538/vibes-americans-perception-economy-completely-changed/story?id=111211869
peer )
It’s good to see that the citizens of Econoland are grumpy no matter which version of the simulation you play through! I played through the Rollercoaster version, and I actually found it easier to manage the different factors that in the first playthrough. I failed miserably in keeping my budget under control, but my unemployment was more or less constant as was my GDP after the second year. Years 2 and 3 saw inflation spike but for the most part, it also stayed in the same general range. I found the Government spending criteria the most difficult to pin down. When I would raise the amount by what I believed would keep pace with inflation or reduce the deficit, the game would tell me that the increase was unrealistic, but if I kept it to a smaller amount, my wrap up report for the year said I was not increasing it enough to off set inflation.
The global economic outlook for each year is important since the simulation assumes an open economy that will interact with the rest of the world. Economic advisors look at global performance and factors like interest rates when making decisions and long-term plans. It also allows for a general gauge of the health of the global economy since in an open economy, each country is dependent on each other to a certain extent (Principle 5: Trade can make everyone better off.). (Mankiw, 2021) The global economic outlook is also a good tool to alert policy makers to any potential economic issues in the world. For example, civil unrest in the Middle East has the potential to affect oil prices so being aware of the geo-political situation helps to make informed policy decisions.
Consumer sentiment can be a tricky thing. Frequently, the people making economic decisions are elected officials and if consumers are pessimistic about the way the economy is trending, there is a good chance that voters will decide that they shouldn’t keep making those decisions at election time. The current US economy is a good example. In 2022 inflation reached the highest levels in a long time. Recent reports have shown that traditional data points that are used to measure the economy are generally improving month over month.(Radcliffe, 2024) However, the public is still unhappy with the state of the economy. This article from ABC News posits that it isn’t that people aren’t aware of the traditional factors but more that they have different priorities after the COVID 19 pandemic. Their research found that people are less concerned about the state of the GDP and more concerned with things that affect their day to day lives, like gas prices, median household income, food and energy costs (which have both been stubbornly high in the last few years). (Radcliffe, 2024)
It’s worth noting that while traditional measures of economic health are important, examining how we think about them and how people relate to them is also vital. We were all isolated to varying degrees during COVID and that changed our relationships with money and with each other. People are increasingly thinking about things that large corporations have allowed us to assume is normal (i.e. Intuit/TurboTax charges for tax preparation, but you can file for free at the IRS website and there are community groups that will assist for a nominal fee or for free).  It remains to be seen how the current economic situation will resolve but one thing that is clear, we need to rethink how we assess and communicate about the economy.
Mankiw, N.G. (2021). Principles of Economics (9th Edition). Cengage Learning
Radcliffe, M., Potts, M., & Rogers, K. (2024, June 18) It’s not just vibes. Americans’ perception of the economy has completely changed. Abcnews.com. https://abcnews.go.com/538/vibes-americans-perception-economy-completely-changed/story?id=111211869

How would a low-cost price leader enforce its leadership through implied threats to a rival? How does a firm become a “low cost” price leader? Discuss the specific type of market structure that implied threat strategy can be adapted. 

This reflection activity is comprised of two sections collectively totaling a minimum of 500 words. Complete your reflections by responding to all prompts.
Federal Reserve
Analyze how changes in the Federal Reserve’s monetary policy affect at least 2 of the 4 components of GDP (consumption, investment, government spending, net exports). Justify your answer to the following question: Have the Federal Reserve’s countercyclical monetary policies been effective in moderating business cycle swings?
Government Intervention
​​​​​​​Government interventions into markets can sometimes succeed, but sometimes they make the situation worse. Explore 2 examples of government intervention that did not work. Explain why the intervention made things worse, and what could have been done differently to improve the situation. Support your analysis by including:
What the situation was
What the intervention sought to solve
What happened
What might have been done differently 

Instructions
Purpose: Increase understanding of the economic concepts of unemployment, labor force participation, and inflation; practice research techniques to pull current and historical data; and then connect the changes in data to possible real-world causes.  
Task: Working individually, each student will investigate the macroeconomic variables for one state in the USA in order to compare current levels to those of the past. Type up a 4-5 paragraph (minimum of 4-5 sentences each) essay. Be sure to include a  citation for all sources used. 
Selection of State: You may select any state (other than Georgia) that starts with a letter that is closest to the first letter of your last name. Examples: 1. A student with the last name of “Matthews” could select one of 8 states that all begin with the letter M. 2. A student with the last name of “Bowen” would have 7 options: selecting either one of the “A” letter states or one of the “C” letter states.  If you have questions regarding if a state fits these parameters, please contact your instructor. 
Criteria: Select at least one macroeconomic variable to explore for your state (level of unemployment, employment trends, labor force participation, inflation, etc). Any variable that has been covered here in Unit 4 (or our previous units) is fine to include. 
Using sources such as the1. Bureau of Labor Statistics, 2.  FRED: Economic Data by the St. Louis Fed, or other reliable resources (you will need to include a listing of sources used; so be sure to save information on each one you use), provide the current data (with “current” defined as within the past 12 months) and then compare to historical trends.  
Questions to consider include: 
1. What is the current unemployment rate for your state? How has it changed in the past 5 or 10 years? What is at least one potential cause for the changes your state saw in unemployment over the past 5-10 years?
2. What is the current labor force participation rate for your state? How has it changed in the past 5 or 10 years? What may have caused the changes? What is at least one potential cause for the changes your state saw in labor force participation over the past 5-10 years?
3. What was the inflation rate for your state for the past year? How has it changed in the past 5 or 10 years? What is at least one potential cause for the changes your state saw in prices over the past 5-10 years?
4. What changes in industry has your state experienced in the past 10 years? How might new firms entering your state or firms leaving impacted the employment trends in your state? 

Activities
Learning 
Resources – Chapters 3 and 5
i have uploaded the book to help.
you will also need to repsond to two different peers.
Discussion 1
Elasticity calculates the correlation between the quantity demanded or supplied of a good with some other variable. Pick one type of elasticity and a good (or pair of goods). What would you expect elasticity to look like for the good(s)? Why do you think it would look that way for your selected good(s)? 
Responses: What similarities or differences exist between the elasticity of your identified goods? If differences exist, why do you think this is so?

the essay was not approved by the professor, and out of 100 points, it only got the lowest rank, i.e. 10 points. The professor’s opinion about the essay that should be completed for the third time is this.
Hopefully, for the last chance to get a passing grade, it should be completed according to the teacher’s opinion.
Read Yeager (1997), and you will see what the BFH system refers to, Black, Fama and Hall. You can’t just make it up. That’s not creative writing. Yeager (1976) deals with international economic relations, so it is the wrong reference. For one hundred percent reserves, you must read Huerta de Soto. What does that system entail? What are the characteristics of free banks? You must define the three systems based on the course literature to begin with. What system is Garrison’s capital-based macroeconomics based on? What happens to credits? What does this mean for financing innovative, productive investments? What is the difference between free banks and the BFH system, according to Yeager. What does the BFH system mean? Your description has little to do with that system. Read Yeager! What is capital structure and how is it affected by international inflows. Read and use the course literature!
Rewrite the entire essay, taking into account the comments above as well as the course literature.
Essay:
Each student shall individually write an essay (3400-3600 words), using a capital-based
macroeconomic framework and taking stability and progress considerations into account. The essay shall contain references used in the analysis. Follow the guidelines of a journal, such as
the Journal of Economic Behavior & Organization.uploading essay i submitted earlier At the latest on 2024-07-22 at 15:00 .NTERNATIONAL MACROECONOMICS
Lecture 1: International Capital Flows in Capital-Based Macroeconomics Garrison chap 1-4; Bailliu
Lecture 2: International Monetary Regimes
Leijonhufvud chap 1, 6; Yeager I chap 4, Yeager II part 3: “The Significance of Monetary Disequilibrium”, part 4: “Monetary Policy”, “Stable Money and Free-Market Currencies”, “A Laissez-Faire Approach to Monetary Stability”
Seminar 1: The Capital Structure of the Economy
Lewin chap 1-3, 8, 10
Seminar 2: Capital Theory, Microfoundations, and Macroeconomics
Horwitz chap 1-4
Seminar 3: Money, Credit, and Cycles
Huerta de Soto chap 4-6
Seminar 4: Macroeconomics of the Capital Structure
Garrison chap 1-4, 11
Seminar 5: International Aspects on Macroeconomic Coordination
Leijonhufvud chap 1, 6, 10, 12, 14
Seminar 6 Monetary System and Monetary Stability
Yeager II part 3: “The Significance of Monetary Disequilibrium”, part 4: “Monetary Policy”,“Stable Money and Free-Market Currencies”, “A Laissez-Faire Approach to Monetary Stability”, “A Real GNP Dollar”, “Can Monetary Disequilibrium Be Eliminated”
Seminar 7: Exchange Rates and Balance of Payments Adjustments
Yeager I chap 4-6, 15-17
Seminar 8: Regional Currency Areas
Artus, Cartapanis & Legros chap 5 (Cartapanis & Dropsy), 6 (Miotti, Plihon & Quenan),7 (B�nassy-Qu�r� & Coer�), 10 (Aglietta, Baulant & Moatti)Course Readings:
Artus, Patrick, Andr� Cartapanis and Florence Legros (ed.), (2005), Regional Currency Areas
in Financial Globalization, Cheltenham: Edward Elgar.
Bailliu, Jeaninne N., (2000), “Private Capital Flows, Financial Development, and Economic
Growth in Developing Countries”, Bank of Canada Working Paper 2000-15,
http://www.bankofcanada.ca/publications/working.papers/2000/wp00-15.pdf.
Eichengreen, B. (2008). Globalizing Capital: A History of the International Monetary System,
Second Edition, Princeton, NJ: Princeton University Press.
Garrison, Roger W., (2001), Time and Money: The Macroeconomics of Capital Structure,
London and New York: Routledge.
Horwitz, Steven, (2000), Microfoundations and Macroeconomics: An Austrian Perspective,
London and New York: Routledge.
Huerta de Soto, Jes�s, (2006), Money, Bank Credit, and Economic Cycles, Auburn, AL:
Ludwig von Mises Institute.
Leijonhufvud, Axel, (2000), Macroeconomic Instability and Coordination: Selected Essays of
Axel Leijonhufvud, Cheltenham: Edward Elgar.
Lewin, Peter, (1999), Capital in Disequilibrium: The Role of Capital in a Changing World,
London and New York: Routledge.
Yeager, Leland B., (1976), International Monetary Relations: Theory, History, and Policy,
Second Edition, New York: Harper and Row.
Yeager, Leland B., (1997), The Fluttering Veil: Essays on Monetary Disequilibrium, George
Selgin (ed.), Indianapolis: Liberty Fund.BR/Hassan

To complete this assessment, you will create a report comprised of two parts. In Part 1, you will analyze how 2 major economic events influenced supply, demand, and economic equilibrium in the U.S. In Part 2, you will evaluate economists’ assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved. Imagine that you are a business consultant tasked with sharing the concepts below with a team of interns who will be supporting the research aspects tied to a new initiative requiring knowledge about economic influence and economic concentration. The use of charts and tables to illustrate data is highly encouraged to help the interns connect the dots. Create a report incorporating the following: Part 1: Economic Events & Activity Analysis Review the Competency 1 Resources: Economic Fundamentals. Write a 500- to 750-word analysis (Part 1 of your report) assessing how 2 of the following major economic events influenced supply, demand, and economic equilibrium in U.S. economic activity: • Rapid price increases, such as those caused by the 1973 oil embargo or the aftermath of a major hurricane • Dramatic employment drops, such as the combined impact of the 2006 housing bubble burst and the subsequent Great Recession • Crippling interest rates imposed by the Federal Reserve, such as those during the 1975–1985 time period • Collapse of the Soviet Union in 1991 and the end of the Cold War and the “peace dividend” • The dot-com bubble from 1994 to 2000, and the subsequent dot-com crash Part 2: Economic Concentration Evaluation Review the Competency 1 Resources: Factors of Production & Economic Concentration. Select 1 of the economic concentrations (clusters) below: • Seattle-Tacoma-Olympia, WA aerospace / defense industry Copyright 2021 by University of Phoenix. All rights reserved. ECOCB/535 Competency 1 Rubric Page 2 of 4 • Central California winemaking industry • Hollywood movie industry • Silicon Valley Technology hub • Texas / Louisiana Gulf Coast crude oil and natural gas production and refining • Pre-1994 vs Post-1994 US auto and light truck production and the reasons for the change in economic concentration Write a 700- to 1,050-word evaluation (Part 2 of your report) of economists’ assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved. Complete the following in your evaluation: • Analyze how the economic concentration in the area you chose was influenced by competition and pricing. • Analyze how the economic concentration in the area you chose influenced the supply chain. • Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose. • Predict changes you anticipate for the area of economic concentration you chose. Support your predictions. Consider the resources provided and other academically appropriate sources. Compile Parts 1 and 2 into one report. Cite at least 2 academically credible sources for each part. The use of charts and tables to illustrate data is highly encouraged.   

Activities
Learning 
Resources – Chapters 1 and 2
i have uploaded the book to help.
you will also need to repsond to two different peers.
PLease separate discussion one and exercise one
Discussion 1
When we think about taking an action or participating in an activity, we often only think about the monetary cost. With opportunity cost, we think about more than just the monetary aspects; we consider everything we must give up to take that action. In this discussion, your task is to:  
Identify and describe the opportunity cost of an activity that you enjoy. Remember to consider everything you must give up to take part in this activity.  
Using opportunity cost and benefits, demonstrate how someone might decide whether to participate in your activity or not.
Exercise 1
Exercise 1 covers Chapters 1 and 2 of your textbook. Access the Exercise by downloading the attached document. 
Your responses should answer each question fully. You should strive to (1) explain the concept at hand and (2) answer the question with supporting reasoning.
See the Assignment Expectations for further detail.

There are two mini case studies in this assigment. The first one is estimating required rate of return(Nominal interest rates) by using the risk premium approach. The second is bootstrapping method for estimating spot rates. need to show all work. 

JTCC Micro 202 S&D Assignment.
50 Points
Students,
You will need to create a power point presentation or google slides based on 5 (five) of the below news
articles and then answer the following questions to help demonstrate your understanding of supply and
demand.
Directions:
Step #1 will be to read the articles related to supply and demand which are linked below for of these.
Step #2 will be to fill out the chart below
Step #3 will be to create a graph based on the chart that demonstrates a shift of either, supply, demand,
or no shift and correctly label the graph.
**Please refer to my example at the bottom of this page**
ARTICLES
1. Chili peppers, coffee, wine: How the climate crisis is causing food shortages
Article: https://www.theguardian.com/environment/2022/jun/28/climate-crisis-food-shortages
2. Drought and demand from Arby’s creates a brisket shortage; the article also mentions the
increase in the popularity of brisket.
Article: cbsnews.com/news/brisket-shortage-has-texas-barbecue-lovers-facing-rising-costs/
3. There is an oversupply of oil from increased North American and Saudi Arabian production.
Article: businesstoday.intoday.in/story/oil-prices-brent-crude-extends-loss-on-supply-glut-
jan14/1/214565.html
4. The microchip shortage explained.
Article: https://www.usatoday.com/story/tech/2021/04/02/chip-shortage-car-prices-tech-
items/4849838001/
5. Movie ticket prices continue to increase.
Article: https://247wallst.com/media/2021/03/29/this-is-the-price-of-a-movie-ticket-in-the-
past-25-years/
6. Piano stores close down as fewer young people are taking up the instrument. The article also
mentions that technology has improved so that pianos last longer.
Article: lehighvalleylive.com/music/index.ssf/2015/01/piano_stores_closing_sales_plu.html
7. Consumers become more health conscious and reduce their consumption of donuts.
Article: newsmax.com/health/Health-News/sugary-processed
foodspastries/2014/12/29/id/615359/
8. The increase in Mexican immigrants and an increase in popularity for Mexican cuisine has
resulted in greater consumption of tortilla chips.