Week 6 Case Study: Macroeconomic Analysis: Unemployment
Week 6 Case Study: Macroeconomic Analysis: Unemployment
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Week6GuidetoObtainingGraphsforDataSection.docx
Week6CaseStudyGradingRubric.xlsx
Week6CaseStudy-MacroeconomicAnalysis-Unemployment.docx
Week6GuidetoObtainingGraphsforDataSection.docx
Week 6 Guide to Obtaining Graphs for Data section
You need 5 data pieces in the data section:
1- GDP: a graph or a table that represents your 10-year period of GDP growth rate (percentage). To obtain GDP information, go to www.bea.gov then follow the steps below:
· Click on “ Tools” , found on the top left side, and select “Interactive Data”
· Click on “ Gross Domestic Product Personal Income ” found on the left side
· Click on “ Interactive Data Tables ” bottom found in the top middle
· Click on “ SECTION 1 – DOMESTIC PRODUCT AND INCOME ” and select the first option “ Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product ”
· Click on “ Modify ” button found on the top left side, change the First Year field to your desired start year, and change the Series to “ Annual” and click on “ Refresh Table”
You only need the information in the first line for each year (Line 1), which is the Gross Domestic Product as shown below. Copy and paste the data from Line 1 or screenshot the page (just like the image below) and paste it in your paper.
2- Unemployment: a graph or a table that represents your 10-year period of the overall unemployment rate (percentage) in the country.
See the “ Guide to using the BLS website Data ” below to obtain this data.
3- Two Unemployment Issues : data/graphs that represents your 10-year period about the two unemployment related issues that you have selected and will discuss in this paper. Provide one separate data set (graph or table) for each of the two issues.
See the “ Guide to using the BLS website Data ” below to obtain this data.
Guide to using the BLS website Data: for Unemployment Variables
1. Go to this link: https://data.bls.gov/cgi-bin/surveymost?ln
2. Pick the variables you want. You can select more than one variable. For example, see screen shot below:
3. Click on “Retrieve Data” on the bottom left hand side as shown below:
4. You can then manipulate the data by changing output options, enter your ten-year period, such as “2006 to 2015” and then check the boxes “ include graphs” and “ include annual average”. Then, click on “ GO”
Your data will default to show the annual change based on a month, for example, series Id shown here is Unemployment Rate 16 years and over. The data is yearly from January 2006 up to January 2015, which will suffice for the case study.
Lastly, you may see that an accompanying table is provided for each graph of each variable, i.e., the table of the above graph is shown below the graph.
5. To copy and paste the graph in your paper, right click on the graph, then select “copy”, then past it in your paper.
IMPORTANT: make sure you cite the source of the graph (and any other graph and/or table you use) below the graph/table using APA citation style.
6. Now, you can use the data for the variables. Happy Hunting!
Revised 9/19/2024
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Week6CaseStudyGradingRubric.xlsx
Week 6_Case Study Rubric
| Week 6 Unemployment Analysis: Case Study Grading Rubric | |||||||
| Requirements | Possible Points | Points Earned | Criteria and Points | ||||
| Excellent | Competent | Fair | Poor | Unacceptable | |||
| Introduction and Writing Style: Exhibits effective content and writing, including APA with title page and references page (and in-text citations, etc.). Introduction provides accurate definitions of unemployment and inflation, how unemployment is counted, as well as an overview of the general unemployment status. Clearly describes the two unemployment issues the paper addresses. | 25 | Provides sufficient overview of current issues using sources in APA format | Provides some overview of current issues status using sources in APA format | Attempts to provide overview of current issues but sources are not properly cited | Insufficient overview and sources are not properly cited | Does not address unemployment variables | |
| 20–25 Points | 15–20 Points | 10-15 Points | 5–10 Points | 0–5 Points | |||
| Data: Appropriate level of content and data was used and data was current, relevant, and sufficient. Analysis and synthesis skills were applied to include a broad range of material, connecting theory with real data and/or experiences. | 40 | Sufficient historical and current data obtained from credible sources | Current data obtained from credible sources, but data does not address all variables | Data does not address all required macroeconomic variables | Data does not address all required macroeconomic variables and data are not current | Does not address the required macroeconomic variables | |
| 35–40 Points | 30–35 Points | 25 –30 Points | 20 –25 Points | 0–20 Points | |||
| Analysis: The creative process was applied where student formulated the identified challenges and was able to draw conclusions to develop scholarly thinking about the problem or concept assigned. | 35 | Sufficient analysis of trends and causes of changes in all required variables | Sufficient analysis of trends and causes of changes in some required variables | Lacks clarity and does not highlight causes of changes in required variables | Does not provide clear and cohesive analysis of trends and does not address causes of changes in variables | Does not provide analysis of required macroeconomic variables | |
| 30–35 Points | 25–30 Points | 20 –25 Points | 15 –20 Points | 0–15 Points | |||
| Reflection and Critical Thinking: Case study shows critical thinking through the application of concepts learned in the module. | 30 | Shows critical thinking through the application of concepts learned in the module | Shows critical thinking through the application of concepts learned in the module but does not fully link variables to each other | Shows some understanding of variables but lacks clarity and cohesiveness in relating those variables to one another | Provides some idea about the variables but lacks understanding of their relationship and effect on one another | Does not demonstrate understanding of required variables | |
| 25–30 Points | 20-25 Points | 15–20 Points | 10–15 Points | 0–10 Points | |||
| Solution: Clear and relevant solutions provided that demonstrate understanding of macroeconomic variables and macroeconomic policies. | 30 | Includes a strong, original central idea that provides a unified trajectory of inquiry and analysis that is sustained throughout | Includes a central idea with few tangents and diversions that unifies the argument but lacks clarity or creativity | Attempts to form a cohesive idea but lacks concrete focus and unification of key components | Has no unifying central idea to link key components of the argument together | Does not address this competency | |
| 25–30 Points | 20-25 Points | 15–20 Points | 10–15 Points | 0–10 Points | |||
| Total Points Earned | 160 | 0 | |||||
| Revised: 9/5/2024 |
Week6CaseStudy-MacroeconomicAnalysis-Unemployment.docx
Week 6 Case Study: Macroeconomic Analysis: Unemployment
Overview
A high unemployment rate in any economy is a symptom of dysfunctionality in the economy. People need income to be able to consume, and consumption leads to production and production leads to a higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern economies. A lower unemployment rate, however, is not the end of the problem. The type of employment and the price of labor (wages) must be sufficient for consumption (which is the major component of GDP) in the economy to be healthy. If wages are low or if the prices in the economy are high, consumption would be low and thus, production and demand for labor would be low, too. High unemployment rate, high part-time employment rate for economic reasons, low wages, and high inflation could have negative effects on economic growth.
Assignment Description
In this assignment, you need to identify two specific issues related to unemployment. You will study their past trends, provide an overview of their current status, and provide solutions to overcome them. You will use data from the past 10 years, articles, experts' opinions, and government reports to draw a clear picture of unemployment issues.
Some unemployment-related issues you might consider include the following:
· Unemployment rates among young college graduates
· Unemployment rates for women
· Unemployment rates for men
· Unemployment rates among African Americans
· Unemployment rates among Hispanics
· Unemployment rates among Whites
· Unemployment rates among Asians
· Unemployment rate among workers with high school diploma
· Unemployment rate among workers with less than a high school diploma
· Unemployment rate in the medical industry
· Unemployment rate in the high-tech industry
Your research needs to be structured with consistent and clear thoughts. It also needs to be supported by actual data. Your results need to be based on solid facts. Your conclusion and recommended solution need to be thorough and based on your findings and understanding of macroeconomic challenges and macroeconomic policies.
Writing Style (APA) and Page Number Requirements
· Document Type: Word
· Font Type (Choose one below; use the same font consistently throughout the paper): 1. Sans serif fonts such as 11-point Calibri, 11-point Arial, or 10-point Lucida Sans Unicode
2. Serif fonts such as 12-point Times New Roman, 11-point Georgia, or normal (10-point) Computer Modern (the default font for LaTeX)
· Spacing: Double
· Number of Pages: Four to seven pages, not counting the separate Title page and the separate References page
Structure and Requirements
Title Page (Required)
· Title of the paper
· Name of the author
· E-mail address of the author
· Class name
· Professor's name
· Date
Body of the Case Study paper (Five Sections, Required):
There are 5 sections to this Case Study (Introduction, Data, Analysis, Reflection, Solution). You must have 5 section headings in your paper since each section has its own marks/points (see Case Study Rubric document).
Section 1. Introduction
Your introduction needs to include the following.
· Include a clear definition of unemployment and who is counted as “unemployed” by economists and government agencies. Define inflation and what causes unemployment and inflation in the economy to increase.
· Briefly provide your understanding of the relationship between GDP growth and/or decline, high/low unemployment, and high/low inflation rates.
· Include a brief description of the two unemployment-related issues that you are going to address in this paper and their importance. Basically, why do you think they are important to research and resolve?
Section 2. Data
Obtain data from at least 3 credible sources (not Wikipedia). Use tables, graphs, and figures to support your argument. Sources must be cited. You can find the latest unemployment data at www.bls.gov (Bureau of Labor Statistics).
It is important to obtain your unemployment data from the Bureau of Labor Statistics (BLS) website. Follow the “ Week 6 Guide to Obtaining Graphs for Data Section” provided on this assignment page and in Files.
The Data section requires a total of 4 data pieces (all pieces of data need to be for the past 10 years; a data piece could be a graph or table):
· Two (2) General data pieces: GDP Growth Rate and Unemployment Rate.
· Two (2) Variable data pieces: Two (2) specific unemployment rates based on your variable(s) (gender, race, education, etc.)
Data (graphs or tables) that must be provided in this section:
· GDP: Graph that represents the ten (10) year period of GDP growth rate (percentage). This information is already available on the Bureau of Economic Analysis (BEA) website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
· Unemployment: Data that represents the ten (10) year period of unemployment rate (percentage), which could be obtained from the Bureau of Labor Statistics (BLS) website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
· Two Unemployment-related Issues: Data that represents the ten (10) year period about the two issues you are going to address. Provide one separate data set (graph or table) for each of the two issues, which could be obtained from the BLS website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
Section 3. Analysis
This section needs to contain the following discussions based on the data that was gathered and your understanding of unemployment and GDP.
· Unemployment: Discuss the trends of unemployment rates over the past 10 years and provide your objective analysis of the changes in unemployment rates and the current rates. Place extra emphasis on the periods where unemployment was either too high or too low. Also state the effect of the high and low rates on GDP.
· Two Unemployment-related Issues: Discuss the two unemployment-related issues you selected. Provide an overview of their trends and use facts to highlight the major changes in their trends and their current statuses. State the reason(s) why you believe these two issues represent a challenge for the economy.
Section 4. Reflection and Critical Thinking
Connect all the dots together by relating your above analysis to other areas in the macroeconomy. Basically, you will link changes in overall unemployment, the two unemployment-related issues you selected, and GDP to one another. Explain how periods of economic decline (recessions) and periods of economic growth (expansion) affected unemployment rates.
Section 5. Solution
· State which macroeconomic policy (monetary policy or fiscal policy) might resolve the issues you highlighted above, and state how this policy could be implemented and why it would solve these problems.
· Finally, provide your own solution. Basically, answer the following question:
What would you do to solve the macroeconomic issues you addressed if you were in charge of the U.S. economy? State why.
References List (Required)
Use at least three professional sources to support your argument. The references need to be in APA format for the in-text citations and the references list.
APA Resources: http://libguides.devry.edu/c.php?g=181472&p=1194156
Revised 09/05/2024
Week6GuidetoObtainingGraphsforDataSection.docx
Week 6 Guide to Obtaining Graphs for Data section
You need 5 data pieces in the data section:
1- GDP: a graph or a table that represents your 10-year period of GDP growth rate (percentage). To obtain GDP information, go to www.bea.gov then follow the steps below:
· Click on “ Tools” , found on the top left side, and select “Interactive Data”
· Click on “ Gross Domestic Product Personal Income ” found on the left side
· Click on “ Interactive Data Tables ” bottom found in the top middle
· Click on “ SECTION 1 – DOMESTIC PRODUCT AND INCOME ” and select the first option “ Table 1.1.1. Percent Change From Preceding Period in Real Gross Domestic Product ”
· Click on “ Modify ” button found on the top left side, change the First Year field to your desired start year, and change the Series to “ Annual” and click on “ Refresh Table”
You only need the information in the first line for each year (Line 1), which is the Gross Domestic Product as shown below. Copy and paste the data from Line 1 or screenshot the page (just like the image below) and paste it in your paper.
2- Unemployment: a graph or a table that represents your 10-year period of the overall unemployment rate (percentage) in the country.
See the “ Guide to using the BLS website Data ” below to obtain this data.
3- Two Unemployment Issues : data/graphs that represents your 10-year period about the two unemployment related issues that you have selected and will discuss in this paper. Provide one separate data set (graph or table) for each of the two issues.
See the “ Guide to using the BLS website Data ” below to obtain this data.
Guide to using the BLS website Data: for Unemployment Variables
1. Go to this link: https://data.bls.gov/cgi-bin/surveymost?ln
2. Pick the variables you want. You can select more than one variable. For example, see screen shot below:
3. Click on “Retrieve Data” on the bottom left hand side as shown below:
4. You can then manipulate the data by changing output options, enter your ten-year period, such as “2006 to 2015” and then check the boxes “ include graphs” and “ include annual average”. Then, click on “ GO”
Your data will default to show the annual change based on a month, for example, series Id shown here is Unemployment Rate 16 years and over. The data is yearly from January 2006 up to January 2015, which will suffice for the case study.
Lastly, you may see that an accompanying table is provided for each graph of each variable, i.e., the table of the above graph is shown below the graph.
5. To copy and paste the graph in your paper, right click on the graph, then select “copy”, then past it in your paper.
IMPORTANT: make sure you cite the source of the graph (and any other graph and/or table you use) below the graph/table using APA citation style.
6. Now, you can use the data for the variables. Happy Hunting!
Revised 9/19/2024
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image3.png
image4.png
image5.png
image1.png
Week6CaseStudyGradingRubric.xlsx
Week 6_Case Study Rubric
| Week 6 Unemployment Analysis: Case Study Grading Rubric | |||||||
| Requirements | Possible Points | Points Earned | Criteria and Points | ||||
| Excellent | Competent | Fair | Poor | Unacceptable | |||
| Introduction and Writing Style: Exhibits effective content and writing, including APA with title page and references page (and in-text citations, etc.). Introduction provides accurate definitions of unemployment and inflation, how unemployment is counted, as well as an overview of the general unemployment status. Clearly describes the two unemployment issues the paper addresses. | 25 | Provides sufficient overview of current issues using sources in APA format | Provides some overview of current issues status using sources in APA format | Attempts to provide overview of current issues but sources are not properly cited | Insufficient overview and sources are not properly cited | Does not address unemployment variables | |
| 20–25 Points | 15–20 Points | 10-15 Points | 5–10 Points | 0–5 Points | |||
| Data: Appropriate level of content and data was used and data was current, relevant, and sufficient. Analysis and synthesis skills were applied to include a broad range of material, connecting theory with real data and/or experiences. | 40 | Sufficient historical and current data obtained from credible sources | Current data obtained from credible sources, but data does not address all variables | Data does not address all required macroeconomic variables | Data does not address all required macroeconomic variables and data are not current | Does not address the required macroeconomic variables | |
| 35–40 Points | 30–35 Points | 25 –30 Points | 20 –25 Points | 0–20 Points | |||
| Analysis: The creative process was applied where student formulated the identified challenges and was able to draw conclusions to develop scholarly thinking about the problem or concept assigned. | 35 | Sufficient analysis of trends and causes of changes in all required variables | Sufficient analysis of trends and causes of changes in some required variables | Lacks clarity and does not highlight causes of changes in required variables | Does not provide clear and cohesive analysis of trends and does not address causes of changes in variables | Does not provide analysis of required macroeconomic variables | |
| 30–35 Points | 25–30 Points | 20 –25 Points | 15 –20 Points | 0–15 Points | |||
| Reflection and Critical Thinking: Case study shows critical thinking through the application of concepts learned in the module. | 30 | Shows critical thinking through the application of concepts learned in the module | Shows critical thinking through the application of concepts learned in the module but does not fully link variables to each other | Shows some understanding of variables but lacks clarity and cohesiveness in relating those variables to one another | Provides some idea about the variables but lacks understanding of their relationship and effect on one another | Does not demonstrate understanding of required variables | |
| 25–30 Points | 20-25 Points | 15–20 Points | 10–15 Points | 0–10 Points | |||
| Solution: Clear and relevant solutions provided that demonstrate understanding of macroeconomic variables and macroeconomic policies. | 30 | Includes a strong, original central idea that provides a unified trajectory of inquiry and analysis that is sustained throughout | Includes a central idea with few tangents and diversions that unifies the argument but lacks clarity or creativity | Attempts to form a cohesive idea but lacks concrete focus and unification of key components | Has no unifying central idea to link key components of the argument together | Does not address this competency | |
| 25–30 Points | 20-25 Points | 15–20 Points | 10–15 Points | 0–10 Points | |||
| Total Points Earned | 160 | 0 | |||||
| Revised: 9/5/2024 |
Week6CaseStudy-MacroeconomicAnalysis-Unemployment.docx
Week 6 Case Study: Macroeconomic Analysis: Unemployment
Overview
A high unemployment rate in any economy is a symptom of dysfunctionality in the economy. People need income to be able to consume, and consumption leads to production and production leads to a higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern economies. A lower unemployment rate, however, is not the end of the problem. The type of employment and the price of labor (wages) must be sufficient for consumption (which is the major component of GDP) in the economy to be healthy. If wages are low or if the prices in the economy are high, consumption would be low and thus, production and demand for labor would be low, too. High unemployment rate, high part-time employment rate for economic reasons, low wages, and high inflation could have negative effects on economic growth.
Assignment Description
In this assignment, you need to identify two specific issues related to unemployment. You will study their past trends, provide an overview of their current status, and provide solutions to overcome them. You will use data from the past 10 years, articles, experts' opinions, and government reports to draw a clear picture of unemployment issues.
Some unemployment-related issues you might consider include the following:
· Unemployment rates among young college graduates
· Unemployment rates for women
· Unemployment rates for men
· Unemployment rates among African Americans
· Unemployment rates among Hispanics
· Unemployment rates among Whites
· Unemployment rates among Asians
· Unemployment rate among workers with high school diploma
· Unemployment rate among workers with less than a high school diploma
· Unemployment rate in the medical industry
· Unemployment rate in the high-tech industry
Your research needs to be structured with consistent and clear thoughts. It also needs to be supported by actual data. Your results need to be based on solid facts. Your conclusion and recommended solution need to be thorough and based on your findings and understanding of macroeconomic challenges and macroeconomic policies.
Writing Style (APA) and Page Number Requirements
· Document Type: Word
· Font Type (Choose one below; use the same font consistently throughout the paper): 1. Sans serif fonts such as 11-point Calibri, 11-point Arial, or 10-point Lucida Sans Unicode
2. Serif fonts such as 12-point Times New Roman, 11-point Georgia, or normal (10-point) Computer Modern (the default font for LaTeX)
· Spacing: Double
· Number of Pages: Four to seven pages, not counting the separate Title page and the separate References page
Structure and Requirements
Title Page (Required)
· Title of the paper
· Name of the author
· E-mail address of the author
· Class name
· Professor's name
· Date
Body of the Case Study paper (Five Sections, Required):
There are 5 sections to this Case Study (Introduction, Data, Analysis, Reflection, Solution). You must have 5 section headings in your paper since each section has its own marks/points (see Case Study Rubric document).
Section 1. Introduction
Your introduction needs to include the following.
· Include a clear definition of unemployment and who is counted as “unemployed” by economists and government agencies. Define inflation and what causes unemployment and inflation in the economy to increase.
· Briefly provide your understanding of the relationship between GDP growth and/or decline, high/low unemployment, and high/low inflation rates.
· Include a brief description of the two unemployment-related issues that you are going to address in this paper and their importance. Basically, why do you think they are important to research and resolve?
Section 2. Data
Obtain data from at least 3 credible sources (not Wikipedia). Use tables, graphs, and figures to support your argument. Sources must be cited. You can find the latest unemployment data at www.bls.gov (Bureau of Labor Statistics).
It is important to obtain your unemployment data from the Bureau of Labor Statistics (BLS) website. Follow the “ Week 6 Guide to Obtaining Graphs for Data Section” provided on this assignment page and in Files.
The Data section requires a total of 4 data pieces (all pieces of data need to be for the past 10 years; a data piece could be a graph or table):
· Two (2) General data pieces: GDP Growth Rate and Unemployment Rate.
· Two (2) Variable data pieces: Two (2) specific unemployment rates based on your variable(s) (gender, race, education, etc.)
Data (graphs or tables) that must be provided in this section:
· GDP: Graph that represents the ten (10) year period of GDP growth rate (percentage). This information is already available on the Bureau of Economic Analysis (BEA) website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
· Unemployment: Data that represents the ten (10) year period of unemployment rate (percentage), which could be obtained from the Bureau of Labor Statistics (BLS) website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
· Two Unemployment-related Issues: Data that represents the ten (10) year period about the two issues you are going to address. Provide one separate data set (graph or table) for each of the two issues, which could be obtained from the BLS website. Review the Week 6 Guide to Obtaining Graphs for Data Section document for instructions.
Section 3. Analysis
This section needs to contain the following discussions based on the data that was gathered and your understanding of unemployment and GDP.
· Unemployment: Discuss the trends of unemployment rates over the past 10 years and provide your objective analysis of the changes in unemployment rates and the current rates. Place extra emphasis on the periods where unemployment was either too high or too low. Also state the effect of the high and low rates on GDP.
· Two Unemployment-related Issues: Discuss the two unemployment-related issues you selected. Provide an overview of their trends and use facts to highlight the major changes in their trends and their current statuses. State the reason(s) why you believe these two issues represent a challenge for the economy.
Section 4. Reflection and Critical Thinking
Connect all the dots together by relating your above analysis to other areas in the macroeconomy. Basically, you will link changes in overall unemployment, the two unemployment-related issues you selected, and GDP to one another. Explain how periods of economic decline (recessions) and periods of economic growth (expansion) affected unemployment rates.
Section 5. Solution
· State which macroeconomic policy (monetary policy or fiscal policy) might resolve the issues you highlighted above, and state how this policy could be implemented and why it would solve these problems.
· Finally, provide your own solution. Basically, answer the following question:
What would you do to solve the macroeconomic issues you addressed if you were in charge of the U.S. economy? State why.
References List (Required)
Use at least three professional sources to support your argument. The references need to be in APA format for the in-text citations and the references list.
APA Resources: http://libguides.devry.edu/c.php?g=181472&p=1194156
Revised 09/05/2024
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