Week 4 Team Reflection
Dana Sweet, Daniel Marquez, Diana Bak, Donna Eastwood, and Kimberly Dillman
July 28, 2013
ECO/372
Kevin Mc Kinley

Week 4 Team Reflection Already we are into week four of our class in macroeconomics. This week held some insights for us all. We learned about assets, deficits, surplus, and debts. We also learned about fiscal policy and the problems involved with it. We all enjoyed the discussion questions. Everyone had their own beliefs about the system and how to change the OPEC oligopoly. It was all very interesting. Kimberly states in week four the material covers deficits, surplus, debt, and assets. First the material defines deficits and surplus that was easy to comprehend and extremely enlightening. As a former college student majoring in business the terms should be comprehendible but was surprising to learn the true meaning of both deficits and surplus. Deficits and surplus are both dealing with money, first the chapter 17 defines deficits as a shortfall in revenues under payments, explaining that surplus was the opposite, and this was easily understood. After further detail about deficits and surplus the chapter later introduces the definition of debt and assets is common knowledge. The material goes on to explain the difference between individual and government debt. The material concludes the chapter by explaining the burden of the US government deficits or debt. Kimberly also believed that in chapter 18 of the eBook, the material continues to cover topics written about earlier in chapter 17. These topics, found in both chapters, are more in-depth explaining the United States debt and what this debt means for the economy financially. The chapter also briefly discusses policies such as the fiscal policy. In chapter 18 this in-depth description of the topics was a bit of a struggle, just