Overview and Assignment
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overview_and_assignment.rtfECO 505: Research Project Overview and Rubric
Overview and Assignment
Using relevant academic literature and empirical studies, you will compare and contrast the economic conditions of the late 1920s-early 1930s Great Depression and the 2007-2009 United States recession by analyzing governmental, financial, and public institutional reactions then and now. This comparison will take the form of an 8-1O-page (not including cover page and references), research-based analysis paper of interest to fellow colleagues unfamiliar with the discipline of economics. This project will cover the following course outcomes:
• Determine how economics concepts, variables, and tools influence business decision making in various contexts
• Analyze how institutions and political policies have affected economic theory and how changes to economic theories and tools have been integrated into other disciplines and public policy
• Evaluate limits to economic theories and models, as well as recent efforts to improve economic models, analysis, and forecasting for economic decision making
• Illustrate the influence of economic thinking on organizational structure by determining how aligning financial, monetary, and performance incentives with decision rights may support corporate goals and efficiency
• Analyze how quantitative analysis and the use of graphs, equations, and models is a key foundation for the study of economics
The following critical elements should be addressed in your submission:
A. Analyze relevant scholarly economic research into the two events (Great Depression and the 2007-2009 United States recession) and the impact on institutions, public policies, and regulations during these timeframes.
1. Comparison of Events: What was the extent of economic decline in each of the two events? Discuss in terms of GDP, unemployment, and other major economic variables.
2. Government Reactions: Compare changes in the government reactions to the initial shocks to the economy and the initial adjustments to the regulation of business and financial institutions.
3. Effects on Business Decision Making: Compare the effects of the shocks on the economy to business decision making in the public sphere during the relevant time periods.
B. Analyze the influences of changing economic conditions on economic thinking historically and today.
1. Economic Models: How did the nature of economic models and their use in policy making change during these time periods?
2. Forecasting: What were some of the forecasting limitations or successes during these time periods?
3. Quantitative Analysis: Support your analysis using appropriate tables, graphs, equations, and/or models. Discuss how quantitative analysis and quantitative models are important to the analysis of your chosen economic theories.
C. Discuss the role of economic thinking in the nature of business organization. In particular, discuss the "Agency Problem," principle agent problem, and moral hazard. Describe ways they may have contributed to corporate behaviors that influenced economic problems during the recession. Include an analysis of executive managerial incentive structures.
D. Provide a summary of how your analysis can inform business practices, public policy, and/or other disciplines of study in 2014.
Milestones
In order to fully scaffold to the final draft of your paper, you will complete a series of research activities called milestones. These milestones will occur throughout the course and they will directly correspond to various critical elements of your final paper.
Using the Blackboard Journal tool, you will post your responses for each milestone. Your instructor will review each and provide feedback for the week each is due. The final paper will not be accepted unless all journal milestones are completed.
You will utilize the information and conclusions from your journal postings to write the final paper, which is due in Week Ten. The table below shows the various deliverables for the final project.
Deliverable Milestones
Deliverable
Module
Corresponding Critical Element
Submission and Grading
Due
Phase I
Three
C: Economic Thinking
Submitted as journal, graded at 50 points for submission
Phase II
Five
A.1: Comparison of Events
Submitted as journal, graded at 50 points for submission
A.2: Government Reactions
Phase III
Seven
B.1: Economic Models
Submitted as journal, graded at 50 points for submission
B.2: Forecasting
B.3: Quantitative Analysis
Phase IV
Nine
A.3: Effects on Business Decision Making
Submitted as journal, graded at 50 points for submission
Final Economic Analysis
Ten
All critical elements due (A-D)
Submitted as an assignment, graded at 170 points using
Research Paper
final research paper rubric
I
I
Total points: 370 .
Final Research Paper Rubric
This activity uses an integrated rubric in Blackboard. Students can view instructor feedback in the Grade Center. For more information, review these instructions.
Guidelines: The research paper must follow these formatting guidelines: double spacing, 12-point Times New Roman font, one-inch margins, and APA citations Page length requirements: 8-10 pages.
Critical Elements
Exemplary
Proficient
Needs Improvement
Not Evident
Value
A.1: Comparison of
Submission meets "Proficient"
Submission introduces and
Submission briefly highlights
Submission does not provide a
10
Events
criteria and demonstrates
accurately addresses major
key points of events but does
comparison of the Great
particular insight into economic
similarities and differences
not provide a substantiated
Depression and the 2007-2009
variables and terminology
between the Great Depression
comparison and contrast
U.S. recession
and the 2007-2009 U.S.
between the Great Depression
recession using appropriate
and the 2007-2009 U.S.
research sources
recession
(10)
(9)
(7)
(0)
A.2: Government
Submission meets "Proficient"
Submission provides a well-
Submission does not provide a
Submission does not address
5
Reactions
criteria and includes key
supported comparison of the
logical or supported
government reactions and/or
economics concepts that enrich
government reactions in the
comparison of the government
resulting regulations
and extend the analysis
time periods and resulting
reactions and regulations in the
regulatory changes
time periods
(5)
(4.5)
(3.5)
(0)
A.3: Effects on
Submission meets "Proficient"
Submission provides a well-
Submission does not provide
Submission does not address
10
Business Decision
criteria and includes key
supported, logical discussion of
support for claims or presents
the effects on business decision
Making
economics concepts that enrich
the effects on business decision
gaps in logic
making during the time periods
and extend the analysis
making during the time periods
(10)
(9)
(7)
(0)
B.1: Economic Models
Submission meets "Proficient"
Submission provides an analysis
Submission briefly or
Submission does not provide a
5
criteria and demonstrates
of chosen economic models
inaccurately discusses chosen
discussion of economic models
particular insight into chosen
and their use in policy making,
economic models and their use
and their use in policy making
economic models
using appropriate resources to
in policy making
support the analysis
(5)
(4.5)
(3.5)
(0)
B.2: Forecasting
Submission meets "Proficient"
Submission provides an
Submission briefly or
Submission does not provide a
20
--
and demonstrates particular
evaluation of forecasting
inaccurately discusses
discussion of forecasting
insight into economic
methods during the time
forecasting methods during the
methods during the time
forecasting limits and
periods, using appropriate
time periods
periods
possibilities
resources to support the
evaluation
(20)
(18)
(14)
(0)
8.3: Quantitative
Submission meets "Proficient"
Submission accurately and
Submission provides an
Submission does not provide a
15
Analysis
criteria and provides an
appropriately integrates tables,
inappropriate table, graph,
table, graph, equation, and/or
insightful analysis to the
graphs, equations, and/or
equation, and/or model, or
model
importance of quantitative
models that support the
does not discuss its importance
analysis through tables, graphs,
analysis
to the analysis
equations, and/or models
(15)
(13.5)
(10.5)
(0)
C: Economic Thinking
Submission meets "Proficient"
Submission provides a well-
Submission briefly or
Submission does not provide a
15
criteria and extends discussion
supported analysis, using
inaccurately discusses key
discussion of the role of
into today's economic
relevant examples of how
economic principles as they
economic thinking and business
conditions for businesses
economic thinking influences
relate to business organizations
organizations
business organizations
(15)
(13.5)
(10.5)
(0)
D: Relation to Other
Meets "Proficient" and shows
Submission provides a well-
Submission briefly or
Submission does not provide a
10
Disciplines
exceptional insights into the
supported summary of how the
inaccurately discusses the
summary relating analysis to
interpretation the events as
analysis can inform today's
importance of the analysis to
today's businesses, policy,
they relate to business, policy,
businesses, policy, and/or other
today's businesses, policy, or
and/or other disciplines of
and/or other disciplines
disciplines of study
other disciplines
study
(10)
(9)
(7)
(0)
Articulation of
Submission is free of errors
Submission has no major errors
Submission has major errors
Submission has critical errors
10
Response
related to citations, grammar,
related to citations, grammar,
related to citations, grammar,
related to citations, grammar,
spelling, syntax, and
spelling, syntax, or organization
spelling, syntax, or organization
spelling, syntax, or organization
organization and is presented
that negatively impact
that prevent understanding of
in a professional and easy-to-
readability and articulation of
ideas
read format
main ideas
(10)
(9)
(7)
(0)
Earned Total
100
