Comparing the Long Run and Short Run in Macroeconomics

In preparation for your Portfolio Project, spend some time reflecting on, and then writing a paper(Just enough information for each main point and I can expand and add personal thoughts) expand about, the differences between the long run and the short run in macroeconomics. Revisit Module 4(economic growth) and incorporate material from Module 6(economic fluctuations).

In your paper, address the following:

• Describe the factors that affect long-run economic growth
  • Apply these factors in an AS/AD framework
• Describe the mechanisms through which monetary policy and fiscal policy affect the economy
  • Apply these mechanisms in an AS/AD framework
• Discuss the tradeoff between affecting the economy in the short run and in the long run

Thank you in advance.