Final milestone for econ 202 5 slides on decade 1980-89
ryangreen85
lastmoduleppt.pptxForeign Trade: Imports and Exports
For this element, you are to provide data on levels of imports and exports throughout your decade.
As with the other economic data, annual numbers for each year of your decade is ideal. In this case, you may want to look at the value of imports and exports in real (inflation-adjusted) dollars or you can present them as a % of GDP.
In your analysis of the data, make connections to other aspects of the economy, such as the exchange rate. An example might be a stronger dollar leads to more imports - since our dollar can buy more foreign currency than before, it also means it can buy more foreign goods and services (all other things being equal) and so would lead to an increase in imports.
The Census Bureau collects data on imports and exports and their data is compiled on other reliable website for easy access:
You can find export data here
You can find import data here
ECO 202
Foreign Trade: Models
This follows well from the analysis of import and export data, where you can relate the trade levels to events within our economy and within our trading partners' economies. For example, the Great Recession saw incomes decrease in most of the Western world and we know that demand for imports is determined by income. If demand for goods and services decrease, we should see a decrease in exports and imports all around the affected countries, the US included. This shows the application of the AD-AS model, with a shifting demand curve.
Consider also any relevant trade agreements during this time to explore changes in patterns of trade based on comparative advantage, another key economic model.
ECO 202
Conclusions
For this element, you will take all the data, history and policy analysis you have presented and summarize it in a coherent and thorough manner. Basically, this is your time to tell the economic story of the decade and make all the necessary connections now that your analysis is done. Be sure to include specific examples and data points that help tell the story.
ECO 202
Speaker’s notes.
3
“Agree/Disagree”
Here, you will state whether you agree or disagree with fiscal and monetary policy actions taken.
It is possible that some actions you agree with and other you disagree with - that is fine. You can discuss your reasons for disagreement or agreement on a case-by-case basis.
In your argument, be sure you are using our economic models and concepts to support you and not just your own opinion or feeling about what is best. For instance, saying that we should not have spent money on government programs because it's not fair to give out money to people would not be an macroeconomics-based reason. You could say that increased government spending through expansionary fiscal policy created too much inflation later on and so you disagree with that action.
