Week 8 Macroeconomics Assignment

8/15/2021 Project Guidelines and Rubric - ECO-202-X6556 Macroeconomics 21EW6

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Project Guidelines and Rubric

Competencies

In this project, you will demonstrate your mastery of the following competencies:

Make decisions informed by macroeconomic principles and the business cycle

Determine the economic impact of historical and current events using models of macroeconomics

Assess how changes to macroeconomic policies impact the economy

Scenario

You have just completed your seven-year term as the chief economic policy advisor responsible for managing the economy of the

na�on of Econland. You are expected to create a report for the incoming administra�on. In this outgoing report, you will summarize

your macroeconomic policy decisions and the economic outcomes for Econland. The purpose of this report is to share the lessons

you’ve learned over your term and promote sound macroeconomic decision making moving forward.

Direc�ons

First, assemble the materials that you will need to complete this assignment:

1. Access the Macroeconomics Simula�on: Econland from Harvard Business Review and select either the Rollercoaster or

Stagna�on scenarios. Once you have completed your final year of your seven-year term, you can access the final reports

under the Dashboard and Reports tabs at the top of the webpage. You will use these charts, graphs, and other visualiza�ons

to illustrate your report in the indicated areas of the template (for example, Table 1.1). Reach out to your instructor if you

have any ques�ons about accessing these resources.

2. Review and use the Project Template located in the What to Submit sec�on.

The cover page, Table of Contents, and Introduc�on sec�ons of your report are provided and should remain standard

in all submissions except where indicated in the template. You should read the brief Introduc�on sec�on, as it

provides insight into the purpose and structure of the deliverable, and add the high-level descrip�ons where

prompted.

There are placeholders in the template for your data visualiza�ons (e.g., charts, graphs, tables, etc.). These

placeholders are meant to give you a rough approxima�on of the placement of the visualiza�ons that are required.

You should replace the placeholders with the appropriate, indicated images in each case. To create an isolated image

from the simula�on data, it is recommended that you use a snipping tool or other image-edi�ng so�ware to copy

and paste your data visualiza�ons into the template. See the relevant tutorials in the Suppor�ng Materials sec�on for

more informa�on.

You are expected to reference any source material used in your report with appropriate cita�ons. To support you, a

References page has been added to the project template with the cita�on for the course’s reading already provided.

Any other references you add should be cited according to APA format.

Once you have assembled the required materials listed above, you can now begin dra�ing your economic summary report by

comple�ng the following steps:

1. The first sec�on of your report is the Introduc�on, in which you will personalize the provided content with the par�cular

informa�on related to your term (i.e., your simula�on results) as the chief economic policy advisor for the na�on of

Econland. Follow the instruc�ons in the template for contextualizing this sec�on, including adding Table 3 from your

simula�on report to the indicated area of the template (i.e., Table 1.1). Then, add a two- to three-sentence summary



ECO-202-X6556 Macroeconomics 21EW6 TM

8/15/2021 Project Guidelines and Rubric - ECO-202-X6556 Macroeconomics 21EW6

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simula�on report to the indicated area of the template (i.e., Table 1.1). Then, add a two to three sentence summary

specifying which underlying scenario you chose and your overall performance and approval ra�ng.

2. Taxa�on Policies: In the Fiscal Policies: Taxa�on sec�on of your report, discuss the taxa�on policies of Econland for the

public and your successor. Within this sec�on, you should add an image of Table 1 from your simula�on results to the

indicated area of the template (i.e., Table 2.1). Then, answer the following ques�ons in the paragraphs below the table:

Explain your intent for the taxa�on policy decisions you made over your seven-year term. What were the

macroeconomic principles or models that influenced your decision making?

Iden�fy the impact of your changes to the income and corporate tax rates. How were consump�on and investment

affected by your tax-policy decisions? Explain these dynamics using specific macroeconomic principles from the

course reading.

Compare and contrast the impact of your tax policy decisions with those of current or historical examples in the

United States. What do these examples demonstrate about the validity of macroeconomic models? Be sure to cite

your research appropriately. (See the Suppor�ng Materials sec�on.)

3. Government Spending: In the Fiscal Policies: Government Expenditure sec�on of your report, discuss government spending

policies of Econland for the public and your successor. Within this sec�on, you should add an image of the “Real GDP

Growth” and “Unemployment Rate” graphs from your simula�on results and use an aggregate demand and aggregate supply

(AD/AS) model to the indicated area of the template (i.e., Figures 3.1 and 3.2). Images of the AD/AS model can be found in

the course reading or any reputable online source. Then, answer the following ques�ons in the paragraphs below the figures:

Explain your decision making regarding government expenditure and how it changed based on the macroeconomic

condi�ons. What was the intent of your fiscal policy decisions in response to the given economic climate?

Evaluate your fiscal policy decisions, including how they impacted key macroeconomics factors such as real GDP

growth and unemployment. To what extent did your policies yield posi�ve or nega�ve outcomes?

Refer to the AD/AS model to support your analysis in this sec�on of your report.

4. Monetary Policies: In the Monetary Policies sec�on of your report, discuss the monetary policies of Econland for the public

and your successor. Within this sec�on, you should add an image of the “Infla�on Rate” graph from your simula�on results

to the indicated area of the template (i.e., Figure 4.1). Then, answer the following ques�ons in the paragraphs below the

figure:

Explain how you changed the interest rate levels and how these changes impacted other macroeconomic factors

such as infla�on, consump�on, investments, GDP, and foreign trade. Provide specific examples to help illustrate.

Compare and contrast the impact of your monetary policies with those of current or historical examples in the

United States. What do these examples demonstrate about the validity of macroeconomic models? Be sure to cite

your research appropriately. (See the Suppor�ng Materials sec�on.)

5. Global Context: In the Global Context sec�on of your report, you will expand your discussion from the par�cular case of

Econland to consider the wider global context. Analyze the impacts of openness to trade in general. Why and how are the

impacts of monetary and fiscal policies different in a closed economy versus an open economy? Support your claims with

specific details from the course reading.

6. Conclusions: In the Conclusions sec�on of your report, draw your overall conclusions about the relevance and significance

of macroeconomics for the public and your successor.

Assess the effec�veness of your economic policy decisions. Did your economic policy decisions produce the

an�cipated results? Did your macroeconomic principles and models behave in ways that you expected? Provide

specific examples to illustrate.

Evaluate how consumer confidence might have impacted the outcomes of your policy decisions for the economy of

Econland. Why is consumer confidence a relevant factor for making informed macroeconomic decisions?

7. Finally, ensure that all of your sources are properly cited using in-line cita�ons and references according to APA format.

What to Submit

To complete this project, you must submit the following:

Economic Summary Report

Your economic summary report should outline the key principles and takeaways of your Econland simula�on for your successor. It

should also illustrate how the macroeconomic ideas are relevant to the na�on’s future economic success.

Template: Project Template

Use this template to submit your economic summary report, and submit it as a Word document. Sources should be cited according

to APA style.

8/15/2021 Project Guidelines and Rubric - ECO-202-X6556 Macroeconomics 21EW6

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Suppor�ng Materials

The following resources support your work on the project:

Video: How to Use the Snipping Tool (Beginner’s Guide) (for PC)

Use this tutorial for help with snipping, copying, and pas�ng your data visualiza�ons into your project template.

A cap�oned version of this video is available: How to Use the Snipping Tool (Beginner’s Guide) (CC).

Resource: Is There a Snipping Tool for Mac?

Use this tutorial for help with snipping, copying, and pas�ng your data visualiza�ons into your project template.

Resource: APA Style Basics

Use this resource to support your in-line cita�ons and full references in the References sec�on of your project template.

Resource: Board of Governors of the Federal Reserve System

Use this resource to support your research for the U.S. Comparisons por�ons of the Fiscal Policy: Taxa�on and Monetary Policies

sec�ons of your report.

Resource: Congressional Budget Office: Budget and Economic Data

Use this resource to support your research for the U.S. Comparisons por�ons of the Fiscal Policy: Taxa�on and Monetary Policies

sec�ons of your report.

Resource: White House: Economy & Jobs

Use this resource to support your research for the Fiscal Policy: Taxa�on and Monetary Policies sec�ons of your report.

Project Rubric

Criteria Exemplary (100%) Proficient (85%) Needs Improvement

(55%) Not Evident (0%) Value

Taxa�on Policies:

Decisions

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Explains the intent of

the taxa�on policy

decisions and

provides specific

macroeconomic

principles or models

that influenced the

decision making

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include providing

specific

macroeconomic

principles or models

Does not a�empt

criterion

8

Taxa�on Policies:

Impacts

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Iden�fies the impact

of different income

and corporate tax

rates, including the

effects on

consump�on and

investment, and

provides specific

macroeconomic

principles to support

the claims

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include providing

specific

macroeconomic

principles to support

the claims

Does not a�empt

criterion

9

Taxa�on Policies:

U.S. Comparison

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Compares and

contrasts the impact

of the Econland tax

policies with current

or historical

examples in the

United States, and

includes a discussion

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include drawing

appropriate

conclusions about

Does not a�empt

criterion

9

8/15/2021 Project Guidelines and Rubric - ECO-202-X6556 Macroeconomics 21EW6

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about the validity of

the underlying

macroeconomic

models

the validity of the

underlying

macroeconomic

models

Government

Spending:

Decisions

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Explains the

decision-making

process regarding

Econland

government

expenditure and the

intent of the fiscal

policy decisions

based on the

macroeconomic

condi�ons

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include discussing

the intent of the

fiscal policy

decisions

Does not a�empt

criterion

8

Government

Spending: Impacts

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Evaluates the fiscal

policy decisions, and

explains if the

policies posi�vely or

nega�vely impacted

key macroeconomics

factors such as real

GDP growth and

unemployment

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include discussing

how the policies

impacted key

macroeconomic

factors such as real

GDP growth and

unemployment

Does not a�empt

criterion

9

Government

Spending: AD/AS

Model

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Refers to the AD/AS

model to support the

analysis of one’s own

fiscal policy

decisions

Shows progress

toward proficiency,

but with errors or

omissions

Does not a�empt

criterion

8

Monetary Policies:

Impacts

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Explains how

changes in interest

rate levels impacted

other

macroeconomic

factors such as

infla�on,

consump�on,

investments, GDP,

and foreign trade,

providing specific

examples to help

illustrate

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include ci�ng

specific examples

Does not a�empt

criterion

9

Monetary Policies:

U.S. Comparison

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Compares and

contrasts the impact

of Econland’s

monetary policies

with those of current

or historical

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include drawing

Does not a�empt

criterion

9

8/15/2021 Project Guidelines and Rubric - ECO-202-X6556 Macroeconomics 21EW6

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or historical

examples in the

United States, and

includes a discussion

about the validity of

the underlying

macroeconomic

models

include drawing

appropriate

conclusions about

the validity of the

underlying

macroeconomic

models

Global Context Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Analyzes the

different impact of

monetary and fiscal

policies in a closed

economy versus an

open economy and

supports the claims

with details from the

course reading

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include suppor�ng

claims with details

from the course

reading

Does not a�empt

criterion

9

Conclusions:

Principles and

Model

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Assesses the

effec�veness of the

economic policy

decisions using

specific examples to

illustrate the claims

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include providing

specific examples to

illustrate the claims

Does not a�empt

criterion

9

Conclusions:

Consumer

Confidence Index

Exceeds proficiency

in an excep�onally

clear, insigh�ul, or

sophis�cated

manner

Evaluates how

consumer

confidence impacted

the outcomes of

Econland policy

decisions, including

why consumer

confidence is a

relevant factor for

making informed

macroeconomic

decisions

Shows progress

toward proficiency,

but with errors or

omissions; areas for

improvement may

include explaining

why consumer

confidence is a

relevant factor for

making informed

macroeconomic

decisions

Does not a�empt

criterion

9

Ar�cula�on of

Response

Submission has no

errors related to

cita�ons, grammar,

sentence structure,

spelling, or

organiza�on and

integrates all

required tables and

figures correctly

Submission has no

major errors related

to cita�ons,

grammar, sentence

structure, spelling, or

organiza�on

preven�ng

understanding of

ideas

Submission has

major errors related

to cita�ons,

grammar, sentence

structure, spelling, or

organiza�on

preven�ng

understanding of

ideas

Submission has

cri�cal errors related

to cita�ons,

grammar, sentence

structure, spelling, or

organiza�on

preven�ng

understanding of

ideas

4

Total: 100%

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