1. Which macroeconomic questions, issues, problems, or analyses did you identify as potential forecasting projects? Describe and discuss in as much detail as you can.
2. What do you already know, and what would you need to learn to complete these projects?
3. How do you see the knowledge and skills you will learn in this course fitting into your long-term educational or career goals? ("It fulfills a degree requirement" is not a satisfactory answer.)
Income inequality is a major macroeconomic issue not only in the United States, but globally as well. In a pew research survey conducted late last year a global median of 60% say that the current and potentially widening gap between rich and poor is of great concern in their country. This concern is slightly higher in developing economies and emerging markets (median of 60% in each), but is also shared by people in developed economies (56%). A main cause for income inequality is blamed on a particular country’s national government’s economic policies. With a remedy being substantially higher taxes on the wealthy to fund programs that help support the poor; otherwise known as income-redistribution. Scenario based counter-factual analysis could be used to determine the efficacy of income-redistribution’s macroeconomic affects on social classes.
Perhaps a tied #1 or close second most-pressing macroeconomic issue is the persistent jobless recovery leading us out of the ’07-’09 recession. A main cause for this is lack of businesses expanding, mainly in the manufacturing industry. Lack of incentive to expand can stem from many causes, however a main cause is the rate at which technology is decreasing the need for low-skilled workers; which comprise the largest percentage of the labor force. A related issue is the government’s lack of ability to effectively implement
