ECO203 week 2

Dr. Noamana EYES ONLY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I need the discussions back within 48 hrs. The responds to each (4) classmate back in 60 hrs and the quiz back in 80 hrs no exceptions.

Required Resources

Required Text

1. Read the following chapters in the text: Principles of Macroeconomics:
   1. Chapter 4: Unemployment, Inflation, and Economic Fluctuations
   2. Chapter 5: The Measure of Output, Income, and Economic Growth
   3. Chapter 6: Aggregate Demand and Aggregate Supply

Article

1. Malpass, D. (2014, January 22). Five big steps toward faster global growth. Forbes. Retrieved from http://www.forbes.com/sites/currentevents/2014/01/22/five-big-steps-toward-faster-global-growth/

Multimedia 

1. Is America Number One? Understanding the Economics of Success. Unemployment: America vs. Europe.
   (n.d.). Retrieved from the Films On Demand database.
   
2. 1-800-INDIA: Importing a White-Collar Economy. Cyber City: Gurgaon, New Delhi. (n.d.). Retrieved from the Films on Demand database.
   

These videos examine international differences in employment and challenges facing the United States labor force due to the outsourcing of jobs overseas.

Recommended Resources


Websites 

1. Bureau of Economic Analysis (BEA). (http://www.bea.gov) The Bureau of Economic Analysis is the official source for reports on GDP and the Balance of Payments Accounts.
2. Bureau of Labor Statistics (BLS). (http://www.bls.gov) The Bureau of Labor Statistics is the official source for reports on unemployment and inflation.
3. National Bureau of Economic Research (NBER). (http://www.nber.org) The National Bureau of Economic Research is the official agency tasked with identifying the starting dates of expansions and recessions.

Discussions
To participate in the following discussions, go to this week's Discussion link in the left navigation.

1. The Current State of the Economy and Unemployment
   

   Read the journal article, "Five Big Steps toward Faster Global Growth". Based on the information presented in the article, discuss the following:

   • What are the challenges that the US economy will be faced with given a higher debt limit for future economic growth?
   • Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a decline in global growth.

   Respond to at least two of your classmates’ posts.
   
   Reference: Malpass, D. (2014, January 22). Five big steps toward faster global growth. Forbes. Retrieved from http://www.forbes.com/sites/currentevents/2014/01/22/five-big-steps-toward-faster-global-growth/

   Guided Response: Review and respond to at least two of your classmates’ posts by discussing this question in terms of how global growth impacts GDP and unemployment.

2. Who Benefits and Who Loses from Inflation?
   
   

   Inflation is an important policy issue because it causes a redistribution of income and wealth, and discourages saving and investment.  Discuss how inflation affects borrowers and lenders, asset prices, and households on fixed incomes.  

   Reference: Chapter 4, section 4.3: Gainers and Losers from Inflation. 

   Guided Response: Review and respond to at least two of your classmates’ posts by sharing any ideas you may have about how households and businesses can protect themselves against inflation. Be sure to refer to concepts found in the reading when responding to your classmates.

Quiz
To complete the following quiz, go to this week's Quiz link in the left navigation.

Week Two Quiz