Ten-Year Period of U.S. Economic History Overview
Brief overview of the 10-year period between 1950 and today that you chose for this presentation.
GDP (1-2 slides) - Gross Domestic Product (GDP) and Growth
- Show a graph of real GDP growth rates for each year of your decade and highlight significant changes in growth rates, such as dips or negative growth (recession) or booms (economic expansion)
- Real GDP data can be found here at FRED, the research database of the St. Louis Federal Reserve - adjust the data to your 10 year period and use these numbers to calculate the growth rate
- Here is a video to introduce you to using the FRED site
Choose two or three of the most relevant events from this time period that impacted the U.S. economy. Apply specific models developed throughout the course to demonstrate how these events influenced national output during this time period.
- You can use the GDP formula to explain how an event impacted GDP growth. For instance, if there was large increase in military spending because of a war, we would expect to see an increase in GDP.
- Be sure the connections you make are supported by the data you present.
Unemployment and Inflation (1-2 slides)
Analyze unemployment and inflation data as to their relation to output and growth, using macroeconomic principles and models to explain their effect.
Show graphs of both annual inflation rates and annual unemployment rates throughout your decade.
- Find data on inflation rates here
- Find data on unemployment here
Explain how inflation and unemployment are calculated for the data presented
Discuss how changes in both are related to changes in GDP growth
Apply specific models developed throughout the course to demonstrate how the previously selected events influenced both unemployment and inflation during this time period.
- Discuss how the events impacted both economic indicators
- For the final draft, look to include our AD-AS model to illustrate how events led the changes observed in both
Interest Rates (1-2 slides)
Analyze interest rate fluctuations throughout this time period and their effects on other aspects of the economy.
Show graph of interest rates during your time period - there are different rate to choose from, like the Federal Funds Rate, the 3-Month Treasury Rate or the Bank Prime Loan Rate which will each give a sense of the level of interest rates and the trend throughout the decade
Then discuss the following:
- How would these fluctuations affect/be affected by inflation?
- Would investments and foreign trade rates increase or decrease?
- How would the GDP of the American economy be affected?
- To answer the above questions, consider the relationship between interest rates and GDP.
Write a brief overview of the time period you chose.
Attachment:- Assignment File.rar