Research Topic and Instructions
This research assignment requires analysis of economic data and policies in a manner that displays advanced understating of the topics and models/theories presented in the Macroeconomics course.
The assignment has two major parts. Each part contains multiple components. Please address both parts and each of the specified components in sufficient detail in one comprehensive research paper. You must correctly use most of the relevant key concepts and models/theories learned in the course.
Part I: Description of the State of the U.S. Economy
1. Describe the state of the U.S. Economy for the years between 2012 and now in terms of macroeconomic measures discussed in the course (GDP, unemployment, and inflation rates). Select ONE of these macroeconomic measures to write about.
Use data from the National Bureau of Economic Research (NBER), http://www.recovery.gov, and other government agencies and departments, such as Department of Labor (Bureau of Labor Statistics), Department of Commerce (Bureau of Economic Analysis), etc. and present the data in charts, graphs, or tables.
2. As you will notice from your data analysis, the economy passes through different phases and turns. Discuss the implications of a given state (for example, recession) in terms households, businesses, and the entire society. Share your thoughts as to why it is important for you to understand the different states through which the economy passes. Share personal examples and experiences. While Covid-19 has been a major disruptor of the economy, it should not form the major basis for your paper, so many other things have taken place since 2012.
