Current Status Of A Macroeconomic Research Assignment
Macroeconomics 2002.01 Paper
You will be required to follow the current status of a macroeconomic issue this semester using articles from the Wall Street Journal, Financial Times, or other news sources. I am pretty flexible as to news sources, but feel free to ask my opinion on articles you are considering using. You will need to find at least 3 articles pertaining to your topic from August 1 to the paper's due date. The issue that you follow, and the corresponding articles, should be based on one of the following general topics:
Unemployment
Inflation
GDP
Business cycle
Fiscal policy
Taxes
Expenditures
The deficit or national debt
Monetary policy
The Federal Reserve
Interest rate
These categories are pretty broad. Please feel free to ask me for guidance at any point in the process.
I would recommend that you choose your topic by October 15 at the latest so that you can focus on your theme for the semester.
The final paper should be a 3-4 page typed, double-spaced paper (not including article summaries, title page, graphs, tables and bibliography). The focus of the paper will be an analysis of the issue you have chosen based on the current articles you have used. You should also consider using extra sources to enhance your paper; there may be good sources written before August 1. Your paper should include an explanation of relevant macroeconomic terms and concepts, a positive aspect and a normative element. You must include one graph or chart in the paper, and discuss it within the text of the paper. I am happy to read rough drafts and provide feedback. November 20 is the last day that I will accept drafts so that I have time to return comments to you.
Cite your sources by number only (for example, [1]), not by author. In the bibliography, there should be a corresponding number for each citation, followed by the bibliographic information. Use a standard bibliographic format, such as the Turabian Guide or Chicago Style. (http://library(dot)osu(dot)edu/help/research-strategies/cite-references/turabian/). At the top of the bibliography page, write “Bibliography”; in parentheses under the title, indicate the bibliographic style you have used (e.g., “Formatted according to the Turabian Guide”). The paper should not include long passages enclosed in quotation marks. The paper is to be submitted in electronic format in the Dropbox on the Carmen website.
Paper Grading Rubric
Part 1 – formatting, grammar, spelling – 10 points
I do not require any specific style of formatting, but be consistent.
Proofread, proofread, proofread! Errors in spelling and grammar are unacceptable given the technology available. Make certain that sentences are complete!
Minimum of 3 pages, not including graph/chart/bibliography/title page
Part 3 – content – 45 points
Brief introduction and brief conclusion
Explanation of macroeconomic concepts utilized in your theme
Connect articles to your theme
Use of other sources
Graph and/or chart utilized effectively
Part 4 – analysis – 45 points
Evidence of reflective and critical thought
Ideas are logical, clear, compelling, relevant
Empirical evidence used to support
Student's viewpoint demonstrated
(Professor’s name)
Mathematics and Economics
27 November 2017
Unemployment Status
A country’s unemployment rate is crucial because it tracks down the success of people finding jobs in the country or area. When there is a low unemployment rate, it means that the country’s economy is flourishing and there is enough available jobs people can take. When most of the population is able to work, there is very little chance of poverty because they can live decent lives.
Job reports can show a disparity people experience if their educational background is different. Unemployment is lower for the ones who achieved a higher level of education. According to the Wall Street Journal, the rate of unemployment in January 2017 was consistently 2.5% in the 2 years that have gone by for people with a college degree and 7.7% for those who did not graduate high school (2017). Aside from the availability of jobs open to the population, their educational attainment is also a factor. Certain positions require a person to have good school credentials before they are even considered for a job interview. Furthermore, if a country wants to lower their unemployment rate, they should provide a better education system for everyone. Even the less fortunate should be offered free education programs to give them a competitive advantage in the real world.
In June 2017, the rate of unemployment fell to its lowest point after 16 years, which is a fresh sign that the U.S. economic expansion is going into a new stage. This has caused businesses to hire qualified workers. Morath states that the rate is 4.3% during the time and it is the lowest since May 2001, with lesser job creations (2017). The employers have added 138,000 jobs from May 2017. There were a total 121,000 jobs created at the start of 2017 which is 2/3 of the rate of growth in 2016. When there is a drop on unemployment, it demonstrates that the labor market has reached its peak or already fully employed. This is majority of the workers looking for jobs can find one with a short contract and those without jobs will be part of the natural process.
When the month of August came, the total number of jobs that employers added was a total of 156,000. These jobs are from manufacturing, healthcare, labor, professional, mining and technical services. Badkar writes that in comparison to what the Wall Street expects which is 180,000, the growth of non-farm payrolls in Ju...