M07 - Paper - The Practical Economy-Must have APA citations;

The Practical Economy:

Directions: (often student lose points due to not using quotations and/or using AI on this paper, so be sure to use your own words and read this assignment fully!)

Scenario: Think about if an economy is experiencing unemployment in the 8-9% range and the Federal debt is at an all-time high, design an economic policy (that uses one or both of fiscal and/or monetary policy) to reduce the rate of unemployment--OBVIOUSLY that scenario is NOT accurate in the USA in our post-covid times as unemployment is VERY low, but this is a thought experiment.

Make sure your exploration addresses the following: (Full Additional Details below this list so be sure to read full assignment) Define what fiscal policy is (be sure to use quotations and citations on any definitions--see further detail below!); In your own words, Explain the strengths and weaknesses of fiscal policy; Define what monetary policy is (be sure to use quotations and citations on any definitions--see further detail below!); In your own words, Explain the strengths and weaknesses of monetary policy; Given that the actual policy choice is somewhat normative in nature, outline the policy you would choose to use and justify the policy based on the strengths and weaknesses of your options. (don't use AI or someone else's phrases, instead apply thoughts and demonstrate understanding of what you have learned in this class); Describe which macroeconomic theory we reviewed you used as a basis to develop your policy (again in your own words). REMEMBER THAT THIS IS NOT A POLITICAL PAPER nor about Business Practices but rather economics, although you may have some political influences. Use actual sources, not friends and family on social media. Please also select a source to cite outside the textbook itself. If you use a definition from the textbook, you may cite that as your SECOND source, but always try to find an outside source too (e.g. an academic journal, a news article, a governmental website like BLS.gov, or some other valid economic source like the Wall Street Journal). See below for the APA citation specifics needed.INVESTOPEDIA is an online dictionary/encyclopedia so can be used as a SECONDARY source but NOT your main source for any paper in this class.(Note that this paper is NOT just a series of quotes. Yes put quotes around definitions if used, but you must also make sure that the paper is almost all YOUR own words giving examples and explaining/demonstrating your understanding of these topics.)--On this paper, I usually see many students' work "flagged" as not accepted by the TurnItIn software for having either too much quoted or things taken directly from other sources and not placed in quotation marks, so be careful to use your own words so that your paper is not rejected for grading! Do not use AI to generate this paper.

Make sure your exploration addresses the following:

1. Paragraph One: Define what fiscal policy is (include any necessary quotation marks if you use textbook or other definitions, but also put this in your own words and provide support).Explain the strengths and weaknesses of fiscal policy. Please focus on Governmental policy in your examples rather than households. Give examples.
2. Paragraph Two: Define what monetary policy is(include any necessary quotation marks if you use textbook or other definitions, but also put this in your own words and provide evidence/support).Explain the strengths and weaknesses of monetary policy. Explain what the Federal Reserve does. Give examples
3. Paragraph Three: Given that the actual policy choice is somewhat normative (your opinion of "should be" vs "what is") in nature, outline the policy you would choose to use and justify the policy based on the strengths and weaknesses of your options. (In other words, if you were in Congress & or POTUS (who actually does not control either Fiscal nor Monetary policy) or Governor &/or the Chairperson of the Federal Reserve) would you recommend the USA or your State to rely more on Fiscal Policy or Monetary Policy? (Remember that currently the USA uses both policies). Start this paragraph with something like...."If I were in charge of my (country, state, city)...."
4. Paragraph Four:Describe which macroeconomic theory you used as a basis to develop your policy (choices are: Capitalism, Socialism, Communism; and/or Keynesian, Classical Theory, Austrian etc etc etc). Fully develop this paragraph and also use it to "wrap up" this paper as a closing paragraph. Don't just list your preferred policy but rather fully explain.
5. Remember at the end of the paper, you must include TWO full APA citations which includes the Author, Date of Publication, Title of Article, Publication Source/Name of Magazine, Journal, Newspaper, and URL. If your selected article does not have a specific author (which is unlikely) then use "Staff Reporter" as the author. If your article does not have a date, then use the copyright date found at the bottom of the webpage...no "n.d." for no date allowed because in Economics, it definitely matters when the article was published!..