Rreport about the condition of economy

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Rreport about the condition of economy

INSTRUCTIONS:

Minimum of 750 words â€“ What to write about? Imagine that you have just been appointed as a special student advisor to the President`s Council on Jobs and Competitiveness. â€œThe President`s Council on Jobs and Competitiveness (Jobs Council) was created to provide non-partisan advice to the President on continuing to strengthen the Nation`s economy and ensure the competitiveness of the United States and on ways to create jobs, opportunity, and prosperity for the American people.â€ The Chairman of the Council, Jeffrey Immelt, has asked you to address the council about the overall state of the economy. In preparation for the meeting you are asked to prepare a report (at least 750 words) on the state of the aggregate economy and the â€œeconomic recoveryâ€. The report should utilize positive analysis (see Chapter 1) in assessing the condition of the economy. In addition the Council is interested in your recommendations about policies that will expand employment and impact long-run aggregate supply. Include at least two serious and politically feasible macro policy options that the Council can recommend to the President, the Congress, and the American people. These policy options should be focused on creating jobs and promoting economic growth. You are expected to utilize the â€œart of economicsâ€ in formulating your policy recommendations. (The Council is familiar with the arguments for legalizing marijuana and you are asked not to discuss this issue in your report.) Apply analytical skills and economic reasoning. Must have at least four references to Key Terms contained in the book (name provided at the end). Key Terms are found after the Summary at the end of every chapter. Make sure that you highlight or bold each Key Term and include the chapter reference to the textbook in parenthesis. Also, should include references and hyperlinks to at least three current on-line media sources. The data and facts that are used should generally come from statistics-gathering agencies, such as the Bureau of Labor Statistics, the Federal Reserve, the World Bank, etc.; or from news articles in â€œrespectableâ€ media sources. You are not limited to three sources. Three of the references/hyperlinks to online sources should have been written (not referenced) after March 1, 2012 to ensure that you have the latest information. At least one of the references must include a current hyperlink from a foreign media source which deals with the state of the U,S. economy. Examples of foreign media sources: BBC, China Daily, Japan Times, The Moscow Times, Times of India, Aljazeera, etc. Look over the 2012 Economic Report of the President before starting as a reference. Cite any and all outside sources, including blogs and websites. Use in-text parenthetical citations rather than footnotes. In general economists cite works using the name and year system and use the APA style to cite and list your references. The name of the book is: TITLE: COLR PK MACROECON W/CONNECT+ â€¢ AUTHOR: Colander â€¢ EDITION:8th â€¢ COPYRIGHT YEAR:2011 â€¢ PUBLISHER: McGraw-Hill

CONTENT:

An employment reportPresented by: Special student Advisor to President On behalf of: Students FraternityPresented to: President`s Council on Jobs and CompetitivenessDate:IntroductionThis report outlines students` perspective of the current trends in economic growth and employment in the US. It analyses the progress that have been made in achieving the main goals of the jobs council. We believe that our contribution will help in achieving goals. There has been a slight improvement in economic and employment growth in the US for the past three years which can be attributed to the government interventions during the global recession of 2007-2009. However, the measures taken cannot achieve long term economic growth hence the need to devise a more appropriate political macroeconomic policies.Economic condition of the countryUnited States of America`s economy has made a slight economic recovery from the recession that was witnessed in the past three years which affected most countries. The economy is projected to grow at 2.6% this year, though below global economic growth of 4.8%, is a positive step towards economic recovery. The past three years experienced a record increase in unemployment in the country which was occasioned by economic recession that resulted into a GDP or recessionary gap.Government responded positively by using relevant fiscal and monetary macroeconomic policies such expansionary monetary policies to reduce unemployment and restore economy back to recovery path. Fiscal policies employed include reducing taxation rates and increasing government spending to increase aggregate demand, (Perry et al, 2009). This has not been very successful as expected but brought a slight relief to the economy. The use of fiscal and monetary policies needs to be revised because they are not sustainable in the long run. The use of these policies beyond full employment will result in numerous side effects such inflationary pressures, destabilized currency and increased rates of interest as well as poor balance of payments, (Perry et al, 2009).In financia...

Rreport about the condition of economy