Course Global Economics;

Course Global Economics; :  Introduction to Macroeconomics For this assignment , you will complete four economic problems related to macroeconomics, including gross domestic product (GDP), national income, business cycles, unemployment and inflation, and fiscal policy. Business analysts suggest solutions and guidelines for organizations, with support from relevant data, resources, references, and economic principles. Assignment Content By successf ully completing this assignment, you will demonstrate proficiency in the following co urse competencies and assi gnment criteria: 1. Competency 1: Apply the theories, models, and practices of economic theory to create value for the firm. - Analyze solutions with support from relevant data, resources, references, and economic principles. 2. Competency 3: Analyze the macroeconomic environment of corporate operations. - Analyze Gross Domestic Product (GDP), Net Domestic Product (NDP), and National Income (NI) using appropriate data. 3. Competency 4: Analyze the microeconomic environment of corporate operations. - Analyze past and present value of income, available products, and quality of products. - Analyze aggregate demand and supply and graph the resul ts. 4. Competency 5: Communicate in a manner that is professional and consistent with expectations for members of the business professions. Context For this assignment , you will research macroeconomics — gross domestic product (GDP), national income, business cycles, unemployment and inflation, and fiscal policy. GDP is one measurement of the well - being of a nation, but it is not the only o ne. GDP consists of what consumers buy, what businesses buy, what the government buys, and what is either imported or exported. On the other side, everything a nation produces must be paid for, which represents the national income — wages for labor, rents fo r land owners, and interest or return for capital owners. Business cycles are the ups and downs of an economy, both nationally and globally. For example, we recently experienced something called the Great Recession. Many jobs were lost. This followed a per iod of economic growth. You will study the factors that contribute to business cycles. You will also study fiscal policy, which consists of tools the federal government can use to manage business cycles, such as taxes, debt, and spending. Suggested Resour ces The following optional resources are provided to support you in completing the assignment or to provide a helpful context. . Resources Katkov, A. (2012). Great recession of 2008 – 2009: Causes and consequences . Journal of Applied Business and Economics , 13 (3), 107 – 122. Internet Resources Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication. ? Beggs, J. (2013). The production possibilities frontier [About.com guide]. Retrieved from http://economics.about.com/od/production - possibilities/ss/The - Product ion - Possibilities - Frontier.htm ? Beggs, J. (2013). Supply and demand equilibrium [About.com guide]. Retrieved from http://economics.about.com/od/market - equilibrium/ss/Supply - And - Demand - Equilibrium.htm ? Ahleresten, K. (2008). Essentials of microeconomics . Retrieved from http://bookboon.com/en/textbooks/economics/microeconomics - uk ? Jochumzen, P. (2010). Essentials of macroeconomics . Retrieved from http://bookboon.com/en/textbooks/economics/macroeconimics - uk ? McAfee, P. R. (2006). Introduction to economic analysis . Retrieved from http://www.mcafee.cc/Introecon/IEA.pdf ? About.com. (2013). Free economics textbooks . Retrieved from http://economics.about.com/od/freeeconomicstextbooks/Free_Econ omics_Textbo oks.htm