growth economic analysis 2 1

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  • Overview

    In 3–4 pages, 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:

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    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.

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    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?
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    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.

  • 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.

    Growth: Economic Analysis 2 Scoring Guide

    CRITERIA NON-PERFORMANCE BASIC PROFICIENT DISTINGUISHED
    Analyze the impact of a high rate of growth on a nation. Does not analyze the impact of a high rate of growth on a nation. Describes the impact of a high rate of growth on a nation. Analyzes the impact of a high rate of growth on a nation. Analyzes the impact of a high rate of growth on a nation; includes an examination of the challenges the nation will face due to the high rate of growth.
    Use the concepts of gross investment and net investment to explain differences in specific economies. Does not use the concepts of gross investment and net investment to explain differences in specific economies. Uses the concepts of gross investment and net investment to explain differences in specific economies, but the explanation shows a lack of clear understanding of the concepts. Uses the concepts of gross investment and net investment to explain differences in specific economies. Uses the concepts of gross investment and net investment to explain differences and similarities in specific economies.
    Explain how it is impossible for gross investment to be less than zero. Does not explain how it is impossible for gross investment to be less than zero. Explains how it is impossible for gross investment to be less than zero but the explanation is missing key elements or is unsupported. Explains how it is impossible for gross investment to be less than zero. Explains how it is impossible for gross investment to be less than zero. Supports explanation with relevant evidence and/or real world examples.
    Analyze the economic discrepancies between countries. Does not analyze the economic discrepancies between countries. Lists the economic discrepancies between countries. Analyzes the economic discrepancies between countries. Analyzes the economic discrepancies between countries using relevant macroeconomic theories or models to support analysis.
    Explain how a financial crisis can lead to a recession. Does not explain how a financial crisis can lead to a recession. Explains how a financial crisis can lead to a recession but the explanation is missing key elements or is unsupported. Explains how a financial crisis can lead to a recession. Explains how a financial crisis can lead to a recession; supports the explanation with real world examples.
    Explain how a major new invention can lead to economic expansion. Does not explain how a major new invention can lead to economic expansion. Explains how a major new invention can lead to economic expansion but the explanation is missing key elements or is unsupported. Explains how a major new invention can lead to economic expansion. Explains how a major new invention can lead to economic expansion; supports the explanation with real world examples.

 
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