ECO 201 Understanding of Econ

I’m working on a economics question and need an explanation and answer to help me learn.

Purpose: Increase understanding of economic principles by discovering the business cycle position of a nation by examiningthe nation’s Real GDP Growth Rate, Unemployment Rate, and Inflation Rate. Use your knowledge of the business cycle and its causes to evaluate the nation’s Government or Central Bank’s policies to achieve or maintain economic equilibrium.

Process: Select your nation: In this essay you will select a Norway country and establish its business cycle position and evaluate policy. Go to the trading economics website (Links to an external site.), click on indicators, click on countries, and you will see a listing of all the countries in the world! Pick one and list it as ‘taken’ in this discussion board – just but your nation in the subject line. No duplicates allowed! Do not select the U.S. as we study that in class. In addition to basic economic theory, include three graphs, six statistics(highlighted), 10 economic terms(bold font and underlined) and at least two recent news articles to support your findings

Refer to the grading rubric to ensure you include all graded elements.

Template for Paper: APA format, no minimum or maximum pages/words. Follow the rubric and include all required elements

  1. Introduction
  • Give a brief introduction to the nation
  • Underline your focus point.

2 Discuss the business cycle position

  • What is the current business cycle position?
    • (Is the economy in recession or recovery?)
  • Look at the historical perspective of business cycle activity. How does the current situation compare? ( 10-25 years)
  • Identify the primary cause and important secondary impacts of the nation’s current business cycle position?
  • Include historical Graph and Statistical data

3. Discuss the unemployment situation

  • Identify the most recent unemployment rate
  • What types of unemployment is the economy experiencing now?
    • What is the primary cause of the unemployment position and identify any important secondary effects.
  • Give the historical perspective of unemployment in the nation
  • Include historical graph and Statistical data

4. Discuss the inflation situation

  • Identify the most recent inflation rate
  • What type of inflation is the economy experiencing now?
    • What is the primary cause of the current inflation situation and any important secondary impacts.
  • Give the historical perspective of inflation in the nation
  • Include historical Graph and Statistical data

5. Select a problem that the nation faces

  • What fiscal policy is the nation using to address this problem?
    • Indicate whether or not this policy was effective – explain and use specific quotes from outside sources to support your point of view.
    • How will this policy impact the business cycle position of the nation – improve it or make it worse

5. Conclusion

  • Will the nation return to Potential output in the near future and will the problem identified in #5 be remedied
  • Business Cycle AnalysisCriteriaRatingsPtsThis criterion is linked to a Learning Outcome Business cycle Position20 ptsFull Markscurrent business cycle phase and historical perspective0 ptsNo Marks20 pts
    This criterion is linked to a Learning Outcome Inflation Rate20 ptsFull Markscurrent the inflation rate, and historical perspective0 ptsNo Marks20 pts
    This criterion is linked to a Learning Outcome Unemployment Rate20 ptsFull Markscurrent unemployment rate and historical perspective0 ptsNo Marks20 pts
    This criterion is linked to a Learning Outcome10 terms: 15 points, six statistics, 6 pts, 3 graphs 3 points and 1 quote 1 points25 ptsFull Marks0 ptsNo Marks25 pts
    This criterion is linked to a Learning Outcome Fiscal Policy Critique: Identify problem economy is facing and a fiscal policy legislated to correct the issue. Indicate whether or not this policy was effective – explain and use specific quotes from outside sources to support your point of view. How will this policy impact the business cycle position of the nation – improve it or make it worse15 ptsFull Marks0 ptsNo Marks15 pts
    Total Points: 100

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