Assignment:
Course Description:
An introduction to the study of the determination of income, output, employment, and prices in the U.S. economy. Emphasis on fundamental economic concepts, gross domestic product and its components, monetary and fiscal policy, and contemporary macroeconomic issues.
After the reading the Issues & Applications in your etext: Interpreting Employment Data as the Gig Economy Grows and researching online how Social Security, Medicare, and unemployment insurance are more specifically funded, please answer the following questions:
1. Why might the U.S. government, which funds Social Security, Medicare, and unemployment insurance programs by taxing wages, desire to find a way to reduce self-employment and inhibit the growth of the gig economy?
2. Do you see the growth of the gig economy as a positive or negative trend in the economy? Explain.
Prerequisite:
None
Textbooks:
The textbook information which appears on our Saint Leo Bookstore ordering site is as follows:
Saint Leo University. Economics Today (Custom). ISBN: 9781323789582
Your custom textbook was created from the following National text(s):
Economics Today (Complete): Miller, R. L. (2018). Economics today(19th ed.). New York, NY: Pearson
Education. ISBN: 9780134478777
Learning Outcomes:
1. Explain the concepts of scarcity, opportunity cost, and the role of incentives in decision making.
2. Explain the primary statistics used to measure income, output, employment, and prices in the aggregate economy.
3. Develop the basic Aggregate Supply/Aggregate Demand (AS/AD) Model.
4. Describe Monetary and Fiscal Policy within the context of the AS/AD model.
5. Relate the concept of deficit to debt by comparing government expenditures to government revenues.
6. Recognize the importance of specialization by comparative advantage in the face of globalization.
7. Distinguish between the balance of trade and the balance of payments.
8. VALUES OUTCOME: Integrate the relevance of Responsible Stewardship in the context of macroeconomic analysis.
Core Value:
Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of service to employ our resources to university and community development. We must be resourceful. We must optimize and apply all of the resources of our community to fulfill Saint Leo University's mission and goals.