Homework: Macroeconomics
Outcomes: This task assesses the following learning outcomes:
1) Understand the forces determining macroeconomic variables such as national output, inflation, and unemployment.
2) Apply macroeconomic terminology and assess macroeconomic policy suggestions.
3) Evaluate real life situations with a practical application of the acquired tools and knowledge.
Task
The report should include the following sections:
• Cover Page: Title, Course, Name of Student
• Table of Contents
1) Section 1: Consider the information of the first three classes. What is GDP? What is it made up of? What weight does Consumption have in the GDP of the USA? And in China?
2) Section 2: Consider the information of the first three classes. What is GDP? What is it made up of? What weight does Consumption have in the GDP of the USA? And in China? Discuss to what extent these two countries' economies complement each other.Evaluate how sustainable the US model based on consumption is. How sustainable is the Chinese model based on Investment?
3) Section 3: Consider the information of the first three classes. What explanation do they give for the difference between upper income countries (like the USA) and middle or lower income countries (like China)
4) Section 4: Evaluate the relative importance of having the biggest economy in the world (soon China) compared to having the most productive large economy in the world (the USA). Identify the changes a country (like China) has to make to make its economy more productive.
• Bibliography.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.