Macro Termpaper Possible Discussion Topics

8/13/2019 Macro Termpaper Possible Discussion Topics

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1. RECESSION, GDP, UNEMPLOYMENT:a. The US economy has been out of recession for about 3 years but the recovery stills

seems fragile. How strong is the recovery? Look at indicators of economic vitality(i.e., unemployment rates, production figures, consumer and producer confidence,GDP growth, etc.). Is it only a matter of time before the economy is back to

traditional growth rates or do you see long term structural problems? What role doesthe Government play deficit spending etc. Are their policies encouraging ordiscouraging growth?

b. The EU has been hard hit by the 2008 economic slow down. Since then a numberof member states have neared economic collapse. What is the state of EUseconomic health? Look at indicators of economic vitality (i.e., unemployment rates,production figures, consumer and producer confidence, GDP growth, etc.). Is itonly a matter of time before the economy is back to traditional growth rates or doyou see long term structural problems? Which countries present the gravest challengeto EU economic health? Will economic problems of member countries such asGreece, Italy, Spain, Ireland etc. pull more successful economies like Germany downor even unravel the Union? Have they been able to contain the threat of economic

implosion? What role do national governments and the EU (EU Central Bank etc.)play in strengthening the Europes economic growth? Are their initiativesencouraging or discouraging economic growth?

c. Briefly discuss the causes of the 2008/2009 downturn Housing Bubble, theBanking sector, etc. Discuss the scope/severity of the most recent recession. Was itcomparable to the Great Depression? What is special about this recession (ifanything)? Look at previous recessions (pick a country and choose a time frame of atleast fifty years) and explore the causes for the various expansions and contractionswithin the business cycles. Were the causes always the same? What was done toescape the downswings? Were these programs effective? Why/ Why not? Can welearn from our past mistakes or are we doomed to repeat the same mistakes for all

time? What have governments & central banks done to help the economies recover?Were they successful? Is a double dip recession a realistic scenario in the regionyou are investigating?

d. Select an emerging economy: Brasil, India, Russia, China, Indonesia, etc. Present asummary of its economic indicators (GDP growth, Output levels, investment, pricelevels, resources, etc.). Analyze the data. How sustainable are past growth rates?Are there structural problems that need to be addressed (eg. over-reliance on oil,aging population, etc.). What can the government do to ensure future economichealth? Are they doing these things?

2. THE SHADOW ECONOMY:Study the impacts of the Shadow Economy on theproductivity of a country. Explore various types: Crime, illicit work (aka. Moonlighting),etc. What are the effects on government policy, welfare of society and nationalaccounting? What can a government do to reintegrate segments of the ShadowEconomy into the regular economy? Discuss the impact of the current recession on theShadow Economy.

3. INFLATION/ DEFLATION WOES:a. Explain the phenomenon of inflation what are its causes; when is it a threat and

when not? What is hyperinflation? Use historical examples to illustrates its impact -


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see Weimar Republic (1920s), Argentina (1999-2002), Serbia (worst period: 1993-1995), Zimbabwe (2000s), etc. You may select one country/ period or conduct asurvey. What can a government do?

b. What is deflation? Is it as common as inflation? Why or Why no? What are itscauses? How dangerous is it? Use historical examples to illustrate your case:

Global Deflation (1930s), Japan (1990s).

B.TERM PAPERS DUE: May 8. 20121. Thesis Statement, Outline and preliminary Bibliography: March 27th2. Draft Version: Mon. April 15th3. Peer Review: Mon. April 22nd4. Final Version (in Turn-it-in): Mon. April 29th!!!!

http://turnitin.com/static/index.htmlAssignment: Term paper Group IIName: ECON 2030 Spring 2013Password: KeynesClass ID: 6019392

1. FISCAL & MONETARY POLICY IN ACTION:a. The US and Europe limped out of the 2008 Great Recession. What did the

respective governments do to escape a worst-case scenario? Have they beensuccessful? Grade them for their work. Discuss Fiscal and Monetary policy toolsalready used or proposed focus on differing remedies proposed. You may: 1.Choose a country or region (US, UK, EU,); or 2. Compare different approaches

used or the different schools of thought on how the problems should be tackled.a. Given the fiscal and monetary challenges presented by the implosion of the Greek

economy, what is the EU doing to stabilize its economy and the EMU? Are thepast and current policies successful in averting the demise of the EMU and/or EU?What about the other sick EU economies (Spain, Ireland, Italy, etc.) are theyeffectively addressing their problems? What about Europes power-houseGermany? Is it stumbling under the pressure? Is Austerity an answer?

b. The Magic Of Supply Side Economics: Was George Bush a Supply-Sidepresident? Compare his administrations economic policies with those of Reaganand his Reaganomics. Is Obama a Keynesian President? What School ofThought was/is behind the economic policy of each president? Were/Are they

true ideologues or pragmatic in their approaches?c. Battle of Ideas In the advent of the global slowdown of 2008 governments

reacted with different economic policies. Discuss several national case studies andtry to assess which school of thought drove which national economic programs.Given the current challenges what has priority: reducing national debt orstimulating growth? Are they exclusionary or can they be approachedsimultaneously?
http://turnitin.com/static/index.htmlhttp://turnitin.com/static/index.htmlhttp://turnitin.com/static/index.html


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2. BANKING:a. ECB vs. FED: Compare European Central Bank approach/ role to that of the US

Federal Reserve Bank. What similarities do you see between the two CentralBanks? How do their approaches and philosophies concerning the use of Monetary

Tools and the objectives of Central Banks differ? Explain in light of recentrecession, discuss.b. THE EURO vs. THE DOLLAR: What is implication of a strong EURO vis--

vis the US Dollarwho benefits? What are the causes for this drop in value againstthe Euro? Is the Dollar poised to drop some more? Why? Is there a danger in thehuge US budget deficit in regards to the stability of the dollar? What would it meanfor world commerce if the US dollar lost its leadership role? What would it meanfor the US? Should the world (e.g. Oil markets) move away from the dollar in favorof the EURO?

3. THE ECONOMIC MANDATE OF NATIONAL GOVERNMENTS: Howwould you define the role of government in assuring the economic stability of a nations

economy? What should its responsibilities be? Do favor a strong activist governmentthat uses policy tools to ensure that defined social objectives are met or do you favorinstead, a government that relies on free enterprise to create the desired economicstability. Discuss the methods each type of government could use to achieve these ends.Argue your viewpoint by citing the shortcomings of the system you reject. You mightwant to compare two countries with differing viewpoints on the subject (e.g. USA andSweden - both economies are doing very well however their methods of achieving theirhigh living standards differ greatly).

4. GLOBALIZATION/ OUTSOURCING: What is globalization in economics term?What impact do forces of Globalization have on national economies and national policy

making? What is better for a national economya focus on creating and protecting jobsat home or facilitating international trade/ business even if this means moving someproduction abroad? What do you make of Americas (and Europes) increasingdependency on Asia for production? What are the arguments pro/con Outsourcing?What is your position? Does globalization hedge against recessions or does it in factmake us more vulnerable (i.e., do recessions spread like viruses in this interconnectedworld)?


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Tips for Obtaining a Strong Grade:

Liven up the discussions with your opinions but make sure they are grounded on solid economictheory. In other wordsNormative conclusions must be grounded in Positive analysis.

Use an adequate amount of sources! Use articles from newsprint (e.g. der Standard, WallstreetJournal, etc.) & magazines (e.g. Business Week, Economist, etc.), statistical data (labor statistics)and publications (thesis papers, books) to strengthen your arguments & analysis. The Passportdatabase in our library can be of great service for your research.

- Wikipedia is NOT an academically valid source.- IF you use/cite internet sources make sure they are trustworthy and relevant. You MUST

explain why you trust the source (e.g. As the official Site of the UN Compact onSustainable Development (www.globalcompact.orgstates, humanity is.)

- If you are quoting any source, it is a good idea to hint something about reliability ofthe source. For example:o According to Mr Smith, apresident of the Association XY, o According to IMF study of the impact of flat tax on the tax revenue written by XY and XW

Avoid Plagiarism (presentation of ideas and expressions of others as if they were your own).Whenever using ideas or expressions borrowed from some source, whether quoting directly orparaphrasing, acknowledge the source with an appropriate footnote or endnote, showing: nameof author, title of the work, place & name of publisher & date of publication and page number

where idea is located. Document these sources either at the bottom of the page (footnotes) or atthe end of your paper (endnotes). Use quotation marks when quoting directly.

See a relevant site for a detailed explanation of proper APA author-pagedocumentation format. There are manyeg.http://www.library.cornell.edu/resrch/citmanage/apa

Visit the departments guidelines on writing term papers on the department webpageand Websters Academic Integrity section of the St. Louis webpage:http://www.webster.edu/students/plagiarism/

Use direct quotes ONLY if they support your argument and the quote CANNOT beparaphrased.

Even IF you quote correctly, a paper that is to a large extent a compilation of other peoplesideas is NOT original work and will be graded accordingly.

You must keep a copy of term paper on file in case the first copy is lost or misplaced.Also, keep your research notes and rough notes so that if a question arises as to an actualsource and its location, you will be able to address that question in a timely manner.

Grades are based on the following:
http://www.globalcompact.org/http://www.globalcompact.org/http://www.globalcompact.org/http://www.library.cornell.edu/resrch/citmanage/apahttp://www.library.cornell.edu/resrch/citmanage/apahttp://www.webster.edu/students/plagiarism/http://www.webster.edu/students/plagiarism/http://www.webster.edu/students/plagiarism/http://www.library.cornell.edu/resrch/citmanage/apahttp://www.globalcompact.org/


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I. Format (15%):success in delivering thesis and defending it logically (clarity of structureand objectives)

II. Analysis (40%): Understanding the topic, application of economic theory/modelsIII. Research (25%):Statistical/ factual support, relevancy, sources used, use of visuals to

support analysis (graphs etc.)IV. Delivery: (20%):Proper grammar and spelling. Use of visuals (Graphs, charts, etc.),

professional appearance (cover, font,)

Macro Termpaper Possible Discussion Topics

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