Ross Domestic Product of the United States in 2009
Based upon currently available information, estimate how this years GDP compares to last years GDP in nominal dollars. Apply a GDP deflator (use an estimate of this years inflation rate) to determine if the GDP is growing in real terms. Considering the limitations of national income accounting, discuss weather GDP provides valuable information for measuring economic activity over time.
Identify the problems or the issues involved in the topic. And describe the significance or the relevance of your topic in terms of economic discussion to the subject in the Textbook (The Macro Economy Today, Bradley R Schiller)
Paper should be analytical, not just descriptive summary of available facts and comments on the topic. Recommended to adopts of the following approaches.
a. Quantitative Approach (Statistical Studies)
Make sure to explain the sources of information and give sufficient interpretation of the data.
b. Qualitative Approach (Historical Survey)
Make sure to introduce the opposing views and develop an insightful discussion.
You must demostratee your logical discussion on the topic based on your findings under 2) above. You are Highly recommended to refer to an appropriate theory you have learned in business and economics courses.
Discuss any valuable lessons you leaned from the research. If it is possible, you may be able to come up with some suggestions or solutions to the issues.
5. Format of the Paper
Follow the basic publication standards for bibliography and footnotes. The paper should staple together with a cover page. Assigned paper will be evaluated according to the standards of scholarly writing in MLA. Your writing will be assessed for grammar, punctuation, spelling and appropriate use of Standard English as well as technical terms in macroeconomics.
The paper should include information on economic events, trends, conditions, and forecasts that indicate the current or forecasted health of the economy. You will become familiar with information sources, current economic issues, macroeconomic goals, and current economic policy, which will be analyzed later in developing your own economic forecast.
1. What sources of information were researched? Which were utilized for your information?
2. What economic measures are commonly used in discussions of the health of the economy?
3. What major (explicit or implicit) macroeconomic goals are currently being pursued by policymakers?
4. What macroeconomic tools are currently being used by policymakers?
5. What did the economist(s) forecast and why? What assumptions, variables, or indicators did they use?
6. Do the forecast meet current macroeconomic goals?
7. What key cause/effectrelationships do the porecasts mention? What assumptions (expectations) must prove true for the forecasts to be reliable?
8. Do you agree or disagree with each assumption? Why?