Question ES2560: Project Page 1

05 Jun Question ES2560: Project Page 1

Question
ES2560: Project

Page 1

PROJECT DESCRIPTION

Project Introduction:

The project will require you to collect economic indicators for the most recent year and analyze

them. You will then discuss the strengths and weaknesses of using GDP to measure economic

activity.

Course Objectives Tested:

1. Explain key macroeconomic terminology.

2. Apply supply and demand theory to analyze product, money, and foreign exchange

markets.

3. Create and use economic graphs and numerical models to analyze and propose

solutions for macroeconomic problems.

4. Evaluate the health of the U.S. macroeconomy in terms of key economic measures.

5. Analyze unemployment, inflation, and economic growth.

6. Compare and contrast the classical and Keynesian macroeconomic models.

7. Evaluate discretionary actions the government takes to achieve national economic goals

using fiscal and monetary policy.

8. Outline the fundamental functions of money, rationalize the existence of banks, and

describe the functions and structure of banking.

9. Identify and analyze the actions the Federal Reserve System can take to stabilize the

U.S. monetary and financial system.

10. Describe the international dimensions of macroeconomic policy and the benefits of

international trade.

11. Analyze the policies that lead to economic growth.

12. Use the ITT Tech Virtual Library to research selected topics.

13. Working within a group, make an oral and visual presentation of research findings.

ES2560: Project

Page 2

PROJECT SUBMISSION PLAN

Project

Part

Description/Requirements of Project Part Evaluation Criteria

1 Analyze Macroeconomic Indicators

This part of the project is divided into two

sections, evaluation of U.S. economy and

comparison of U. S. economy with other

economies.

Work with your group members to

perform the following tasks:

I. Evaluation of U.S. Economy

1. Within your group, research the

ITT Tech Virtual Library or credible

government Web sites for the four

macroeconomic indicators for the

U.S. for a period of 10 years

between 1970–present:

GDP—nominal and real

Trade Balance

Personal Income and Spending

Manufacturing and Trade

Inventories and Sales

2. Analyze the findings and comment

on the economic growth of the

U.S. during the period selected by

you. Support your findings with

proper rationale and calculations,

wherever necessary. In your

Evaluation Criteria:

Using the attached rubric, you’ll be graded on the

following criteria:

Criteria Points

Assigned

Points

Earned

Did you correctly

address the question

in Project Part 1?

10%