Assignment:
Instructions: Please type your essays using your favorite word processor, and turn it in via drop box on Carmen. Pick one and only one essay to write. If you submit two essays you will receive credit only for the first essay you submit. They should not have to be more than 3 pages, but definitely should answer all parts of the question. A rubric detailing how the essay will be graded is posted alongside this document.
I am available during office hours (and lecture) to answer any questions you may have about the essay prompt. I can also answer specific questions about content from the course you need to understand in order to answer your chosen essay topic. I won't act as your editor or reviewer though.
Clarity, and brevity are valuable. If you understand these topics you should be able to use appropriate terminology, and express yourself with an economy of words. You should also consider this as a take-home exam (where I and your notes are available to help). First make sure you understand the material (study a bit, read some of the readings you may have skipped, ask me questions, etc). Then I would sit down and write the essay or a detailed outline in 0-2 hours putting the most effort into the content part of the essay. This would constitute a rough draft. Wait a day, then look over it check for spelling, grammar, and style issues, or write the essay out completely. That also gives you a chance to ask me questions about content you may have realized you didn't know very well when you first wrote your draft.
Role of the Federal Government in managing the macroeconomy: Write an informative essay describing in detail three ways that the modern U.S. government has used policies to manage the business cycle. Your essay should detail historical policy choices, and explain the effects of those policy choices using economic theory and data. There is no need for a ethical framework or moral stand, your essay should be informative. Rather than trying to build an argument or weigh costs and benefits focus on being informative and readable.
The Federal budget, deficits, and debt: Write an informative essay describing how the federal government chooses to spend its money. Focus on both the process of budgeting and the patterns of spending that we observe. Then consider the issue of deficits, surpluses, and debt. Explain the recent patterns here, and try to replace raw numbers with economically meaningful numbers. Also mention the current political issues surrounding debt and deficit with an eye toward how economists feel about these issues. There is no need for a ethical framework or moral stand, your essay should be informative. Rather than trying to build an argument or weigh costs and benefits focus on being informative and readable.
The recent financial crisis and asset bubbles: Write and informative essay describing the timeline of the recent financial crisis. Explain using economics what happens in an asset bubble, using the housing bubble as an example. Your timeline should emphasize the causal links between events in the crisis, and the economic logic behind the chain of events and government reactions to those events.
There is no need for a ethical framework or moral stand, your essay should be informative. Rather than trying to build an argument or weigh costs and benefits focus on being informative and readable.