M08 Discussion - Types of Economic Models

ACTUAL QUESTION FOR THIS WEEK:

**MAKE SURE TO INCLUDE A CITATION AS NEEDED AND MAKE SURE THAT YOU DEVELOP YOUR PARAGRAPHS FULLY WITH PERSONALIZE EXAMPLES NOT JUST DEFINITIONS

Your Discussion Assignment:

Select one of the following schools of economic thought:

• Keynesian Theory
• Monetary Theory (Chicago)
• Austrian Theory (not in our textbook but rather a different concept) - Find more information about this Economic school of thought by googling

From the school of economic thought you chose:

• identify three keys points or beliefs that are held by that particular school of thought (again select one from the list above).
• What are the macroeconomic policy implications of those beliefs? Explain your answer. (in other words how does this school of thought impact the country and its overall policies)
• Which school of economic thought do you find to be most convincing? Why?

If possible, (although it is fine to reply to someone who chose the same school of thought as you), in yourreplies to your classmatestry to select postings in which your classmate selected a different school of thought and discuss how you came about to a different decision.

Cite sources as needed.

This discussion addresses learning objectives, 9.1, 9.2, 9.3 AND 9.4.

To begin your initial post, click on the reply button below...

Then don't forget that anytime this week before the Sunday night due date, you must reply to a minimum of three classmates' posts. Address the classmate by name and then post a discussion worthy reply. (more detail below).

Performance Expectations for your Discussion Assignments:

Discussion Boards are created with the intent to expand your understanding of specific economic concepts, build online interaction, and foster discussion beyond the weekly readings, course assignments, and videos. During the course there will be 7 graded discussions with each being worth 20 points. Except for your first discussion, assigned readings, video presentations and other course material should be reviewed prior to making your initial post.

The initial post, or initial response (your response to the discussion question) to the discussion board question is due on THURSDAYS and should have aminimum of 100 words (and/or enough content in paragraph format to completely answer the question posed that week). Late initial posts will incura late deduction. (including but not limited to being only allowed to earn half credit by finishing the assignment with replies instead of completing the late DB post itself)

Make three response postings to your classmates bySunday nights. Each response should be aminimum of a full paragraph, and contain the NAME of the person to whom you are replying (e.g. Dear Sam,)

Your response to each classmate must expand upon their initial post in order to constitute exceptional performance. It should not just ratify what has been said. Therefore, it must have material content such that someone reading it can understand and learn from it, without reading the post you are responding to. In other words, make your response meaningful. Saying things like "I agree with you" "You did a good job", "your post helped me understand the concept" etc. will not earn you points. An acceptable response can be a question, a comment on the substance of the classmate's post, adding to what they said, or correcting a point you feel is wrong. If you agree with or like their point, you should specify the point and explain why you agree/like it. For example,you can say"I agree with you that most products obey the law of demand. I have observed that I buy more of a good or service at a lower price than at a higher price. However, I believe that goods like medication for diabetes, or high blood pressure will not obey the law of demand because regardless of the price, people will still buy the quantity they need." Do not say" I like how you explained the concept. I agree with what you said. Some goods are different. I know someone with a similar situation. Some goods do not obey the law of demand. "

Responding to a classmate's response is encouraged provided all other criteria is met, is one possible path to demonstrating superior performance in a discussion. However, once again, the response must be substantive. The mere presence of a post such as this is not by itself, superior work. Do not use the same response for all the replies in a given week. If you do, you will not receive full credit for your reply posts.

Don't worry if no one replies to a post of yours as that will not impact your score. Do try to reply to different people each week if you can, but that is not a requirement. You can do replies earlier than the due date if you wish.

Feel free to contact me through Inbox on Canvas if you have questions. So in a nutshell....