What is the impact of recessions on entrepreneurship


Assignment:

• Answer each section of the three sections in a short essay (whole paper should be 2 pages)

• Must include references page.

• ONLY USE THE SOURCES PROVIDED

Topic 1: Recessions and Business Activity

The Recession, Wal-Mart Style, Stephanie Rosenbloom

Automakers Rebound as Buyers Go Big, Mike Ramsey

The Great Recessions Effect on Entrepreneurship, Scott Shane, Economic Commentary, Federal Reserve Bank of Cleveland.

Key Questions:

• How do recessions impact firms in general (consider how consumers are impacted and how this may translate to sales/revenue impacts on firms)?

• How might recessions benefit some firms? Consider the Wal-Mart example above. Can you think of companies or industries that may actually thrive during a recession?

• How might firms recover from recessions? Consider the auto industry above. Can you think of companies or industries that emerged from the recession with growth during the expansion?

• What is the impact of recessions on entrepreneurship? How does a recession impact entrepreneurs?

Topic 2: Fiscal Policy

Fiscal Policy, David Weil, The Concise Encyclopedia of Economics

U.S. Fiscal Policy: Reality and Outlook (2016), Fernando Martin, Economic Synopses.

Key Questions:

• What is fiscal policy? How does the government use fiscal policy to influence the economy?

• What are the main expectations regarding U.S. fiscal policy according to the article by Fernando Martin?

• What are your thoughts on fiscal policy? What should the U.S. do going forward? Be sure to support your answer.

Topic 3: Monetary Policy

Federal Open Market Committee

GDP, Bureau of Economic Analysis

Employment Situation, Bureau of Labor and Statistics (see Employment Situation Summary Table )

CPI, Bureau of Labor and Statistics (see the CPI news release summary)

Calendars, Federal Open Market Committee (see the Statement:PDF from the Oct. 31-Nov. 1 meeting)

Key Questions:

• How does the Federal Open Market Committee determine monetary policy?

• Provide a brief analysis of U.S. GDP (examine current GDP and recent changes).

• Provide a brief analysis of the U.S. employment situation (examine current employment data and recent changes).

• Provide a brief analysis of the CPI (examine current price levels and recent changes).

• Provide a brief summary of the Federal Reserve press release.

• If you were to provide a recommendation regarding monetary policy based on your analysis above, what would you suggest? Would you agree or disagree with the recent statements by the Federal Open Market Committee? Why?

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