EXTRA-CREDIT ASSIGNMENT # 1:
ECONOMIC EFFECTS OF THE CORONAVIRUS
Due Date: Wednesday, April 1, 2020
Total Possible: 50 points
The Coronavirus (COVID-19) has immensely impacted the global economy. Countries, including the USA, are
reacting to the impact of the virus and are trying to develop and implement policies to address the situation. As a
result, the US Congress and the Executive branch have recently enacted laws designed to provide reliefs to
affected American families and the American business sector. Additionally, the Federal Reserve System has
implemented several actions to help economic activity. This is an opportunity for you to review and analyze
relevant information about the spread of the virus, its effects on the American economy, and the responses of
American policy makers and political and economic leaders during this time of crisis.
Using relevant
information and available data, where applicable, develop a five-page analytical essay on the socio-
economic effects of the Coronavirus and the effectiveness of the government response.
Your essay must discuss at least the following industries or sectors of the US economy and the fiscal and
monetary remedies:
Overall Public Health Effects;
Detailed Effects on the US Economy (discuss effects on various sectors: manufacturing,
technology/electronic, travel, restaurants, hotels, sports & entertainment)
The Banking Sector;
The Financial Sector (discuss the trends/fluctuations in the Major Financial Sector’s Indices);
Overall/General Economic Variables (Inflation, Unemployment, Economic Growth, Recession,
etc...).
Discussion and analysis of Fiscal Policy Initiatives (actions of Congress)
Discussion and analysis of Monetary Policy initiatives (actions of the Federal reserve System)
Your Impression(s) of Policy Effectiveness based on your prior analyses;
Your Recommendations for future policies following your conclusion
The paper must contain the following parts for evaluation:
A Cover Page
A Table of Contents (2 pts)
A well-developed introduction highlighting the purpose, objective and the organization of the body of
the paper; (3 pts)
The body of the paper with the relevant discussions, section by section, of the various components of
your analysis; (30 pts)
Summary and Conclusion based on the facts analyzed throughout the paper (3 pts)
Your well-articulated, thoughtful, personal opinion of the issue and recommendations for policy
makers based on your knowledge of economics. (10 pts)
A Reference Page (2 pts)
Important Note: The completed report must be submitted in electronic form using MS-Word by 6 p.m. on
the due date. The report must be typed, double-spaced, using a twelve-point font. All items (bullets) must
be addressed effectively. Develop a section (at least a well-developed paragraph) for each item/part.
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