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, analyze economic growth and its impact on a nation, the concepts of gross investment and net investment, economic discrepancies between countries, and the factors that can result in recession and economic expansion. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: • Competency 1: Analyze the economic environment and the role of the federal government in establishing fiscal and monetary policies. o Analyze the economic discrepancies between countries. o Explain how a financial crisis can lead to a recession. o Explain how a major new invention can lead to economic expansion. • Competency 2: Analyze the impact of macroeconomic principles, theories, policies, and tools in real world business situations. o Analyze the impact of a high rate of growth on a nation. o Use the concepts of gross investment and net investment to explain differences in specific economies. o Explain how it is impossible for gross investment to be less than zero. Context Gross domestic product (GDP) is one measurement of the well-being of a nation, but it is not the only one. GDP consists of what consumers buy, what businesses buy, what the government buys, and what is either imported or exported. On the other side, everything a nation produces must be paid for, which represents the national income—wages for labor, rents for land owners, and interest or return for capital owners. Business cycles are the ups and downs of an economy, both nationally and globally. For example, we recently experienced something called the Great Recession. Many jobs were lost. This followed a period of economic growth. Global business leaders need to understand the factors that contribute to business cycles, along with how the federal government manages business cycles through the use of taxes, debt, and spending. Questions to Consider As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment. • Why do you think macroeconomics focus on just a few key statistics when trying to understand the health and trajectory of an economy? Would it be better to try and examine all possible data? Resources Suggested Resources The resources provided here are optional and support the assessment. They provide helpful information about the topics in this unit. You may use other resources of your choice to prepare for this assessment; however, you will need to ensure that they are appropriate, credible, and valid. The MBA-FP6008 – Global Economic Environment Library Guide can help direct your research. The Supplemental Resources and Research Resources, both linked from the left navigation menu in your courseroom, provide additional resources to help support you. Macroeconomics Theory and Principles The following resource provides information about macroeconomics theory and principles. • McConnell, C., Flynn, S., & Brue, S. (2015). Macroeconomics (20th ed.). New York, NY: McGraw-Hill Education. Available from the bookstore. o Chapter 6, “An Introduction to Macroeconomics,” pages 135–147. Show Less Economic Growth Theory and Principles The following resources provide information about economic growth theory and principles. • Explainity. (2014). Economic growth easily explained [Video] | Transcript. Retrieved from https://www.youtube.com/watch?v=qC-U76O76X0 • Romer, P. M. (2008). Economic growth. Retrieved from http://www.econlib.org/library/Enc/EconomicGrowth.html • McConnell, C., Flynn, S., & Brue, S. (2015). Macroeconomics (20th ed.). New York, NY: McGraw-Hill Education. Available from the bookstore. o Chapter 7, “Measuring Domestic Output and National Income,” pages 150–168. o Chapter 8, “Economic Growth,” pages 172–192. o Chapter 9, “Business Cycles, Unemployment, and Inflation,” pages 195–214. Investment Concepts The following resource provides information about investment concepts. • Global Finance School. (n.d.). Gross investment and net investment. Retrieved from http://www.globalfinanceschool.com/book/economics-part/gross-investment-and-net-investment • Assessment Instructions This assessment examines national economics, economic growth, and financial crisis. The ability to analyze these topics allows global business leaders to make sound economic decisions. Requirements There are four parts to this assessment. Be sure you have completed all four parts before submitting. Part 1 Consider a nation in which the volume of goods and services is growing by 5% per year: • Analyze the impact of the high rate of growth on the nation. o Explain how the high rate of growth is likely to affect the power and influence of the nation’s government relative to other nations experiencing slower rates of growth. o Explain how the 5% growth is likely to affect the nation’s living standards.  How does economic growth affect population growth?  Will living standards necessarily grow by 5%, given population growth? Part 2 • Use the concepts of gross investment and net investment to explain the differences between an economy that has a rising stock of capital and one that has a falling stock of capital. • Explain how it is impossible for gross investment to be less than zero, even though net investment can be positive, negative, or zero. What real world examples can you provide? Part 3 • Analyze the economic discrepancies between countries. o Explain why some countries today are much poorer than other countries. o Based on what you know and have learned about macroeconomic principles, are today’s poorer countries destined to always be poorer than today’s wealthy countries?  If so, explain why.  If not, explain how today’s poorer countries can catch up to or even surpass today’s wealthy countries. Part 4 • Explain how, in general, a financial crisis can lead to a recession. • Explain how, in general, a major new invention can lead to an economic expansion. Organize your assessment logically with appropriate headings and subheadings. Support your work with at least 3 scholarly or professional resources and follow APA guidelines for your citations and references. Be sure you include a title page and reference page. Additional Requirements • Include a title page and reference page. • Number of pages: 3–4, not including title page and reference page. • Number of resources: At least 3 scholarly or professional resources. • APA format for citations and references. • Font and spacing: Times New Roman, 12 point; double-spaced.

, analyze economic growth and its impact on a nation, the concepts of gross investment and net investment, economic discrepancies between countries, and the factors that can result in recession and economic expansion.

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

  • Competency 1: Analyze the economic environment and the role of the federal government in establishing fiscal and monetary policies.
    • Analyze the economic discrepancies between countries.
    • Explain how a financial crisis can lead to a recession.
    • Explain how a major new invention can lead to economic expansion.
  • Competency 2: Analyze the impact of macroeconomic principles, theories, policies, and tools in real world business situations.
    • Analyze the impact of a high rate of growth on a nation.
    • Use the concepts of gross investment and net investment to explain differences in specific economies.
    • Explain how it is impossible for gross investment to be less than zero.

 

Context

Gross domestic product (GDP) is one measurement of the well-being of a nation, but it is not the only one. GDP consists of what consumers buy, what businesses buy, what the government buys, and what is either imported or exported. On the other side, everything a nation produces must be paid for, which represents the national income—wages for labor, rents for land owners, and interest or return for capital owners.

Business cycles are the ups and downs of an economy, both nationally and globally. For example, we recently experienced something called the Great Recession. Many jobs were lost. This followed a period of economic growth. Global business leaders need to understand the factors that contribute to business cycles, along with how the federal government manages business cycles through the use of taxes, debt, and spending.

 

Questions to Consider

As you prepare to complete this assessment, you may want to think about other related issues to deepen your understanding or broaden your viewpoint. You are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of your professional community. Note that these questions are for your own development and exploration and do not need to be completed or submitted as part of your assessment.

  • Why do you think macroeconomics focus on just a few key statistics when trying to understand the health and trajectory of an economy? Would it be better to try and examine all possible data?

Resources

Suggested Resources

The resources provided here are optional and support the assessment. They provide helpful information about the topics in this unit. You may use other resources of your choice to prepare for this assessment; however, you will need to ensure that they are appropriate, credible, and valid. The MBA-FP6008 – Global Economic Environment Library Guide can help direct your research. The Supplemental Resources and Research Resources, both linked from the left navigation menu in your courseroom, provide additional resources to help support you.

Macroeconomics Theory and Principles

The following resource provides information about macroeconomics theory and principles.

  • McConnell, C., Flynn, S., & Brue, S. (2015). Macroeconomics (20th ed.). New York, NY: McGraw-Hill Education. Available from the bookstore.
    • Chapter 6, “An Introduction to Macroeconomics,” pages 135–147.

Show Less

Economic Growth Theory and Principles

The following resources provide information about economic growth theory and principles.

  • (2014). Economic growth easily explained [Video] | Transcript. Retrieved from https://www.youtube.com/watch?v=qC-U76O76X0
  • Romer, P.  M. (2008). Economic growth. Retrieved from http://www.econlib.org/library/Enc/EconomicGrowth.html
  • McConnell, C., Flynn, S., & Brue, S. (2015). Macroeconomics (20th ed.). New York, NY: McGraw-Hill Education. Available from the bookstore.
    • Chapter 7, “Measuring Domestic Output and National Income,” pages 150–168.
    • Chapter 8, “Economic Growth,” pages 172–192.
    • Chapter 9, “Business Cycles, Unemployment, and Inflation,” pages 195–214.

Investment Concepts

The following resource provides information about investment concepts.

  • Global Finance School. (n.d.). Gross investment and net investment. Retrieved from http://www.globalfinanceschool.com/book/economics-part/gross-investment-and-net-investment
  • Assessment Instructions

This assessment examines national economics, economic growth, and financial crisis. The ability to analyze these topics allows global business leaders to make sound economic decisions.

Requirements

There are four parts to this assessment. Be sure you have completed all four parts before submitting.

Part 1

Consider a nation in which the volume of goods and services is growing by 5% per year:

  • Analyze the impact of the high rate of growth on the nation.
    • Explain how the high rate of growth is likely to affect the power and influence of the nation’s government relative to other nations experiencing slower rates of growth.
    • Explain how the 5% growth is likely to affect the nation’s living standards.
      • How does economic growth affect population growth?
      • Will living standards necessarily grow by 5%, given population growth?

Part 2

  • Use the concepts of gross investment and net investment to explain the differences between an economy that has a rising stock of capital and one that has a falling stock of capital.
  • Explain how it is impossible for gross investment to be less than zero, even though net investment can be positive, negative, or zero. What real world examples can you provide?

Part 3

  • Analyze the economic discrepancies between countries.
    • Explain why some countries today are much poorer than other countries.
    • Based on what you know and have learned about macroeconomic principles, are today’s poorer countries destined to always be poorer than today’s wealthy countries?
      • If so, explain why.
      • If not, explain how today’s poorer countries can catch up to or even surpass today’s wealthy countries.

Part 4

  • Explain how, in general, a financial crisis can lead to a recession.
  • Explain how, in general, a major new invention can lead to an economic expansion.

Organize your assessment logically with appropriate headings and subheadings. Support your work with at least 3 scholarly or professional resources and follow APA guidelines for your citations and references. Be sure you include a title page and reference page.

Additional Requirements

  • Include a title page and reference page.
  • Number of pages: 3–4, not including title page and reference page.
  • Number of resources: At least 3 scholarly or professional resources.
  • APA format for citations and references.
  • Font and spacing: Times New Roman, 12 point; double-spaced.

 

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