...International Trade and Finance ECO372 - Macroeconomics When there is a surplus brought into the United States there is excess of gross income over cost. Domestic and foreign businesses compete for sales in the country. Due to the standard of living production in most cases is cheaper overseas. It needs to be balanced in order to keep domestic businesses going and only allowing so much of an import into the country. With a surplus of an important product it can keep the price of goods down. The plus side to having a surplus of imports is it can generate jobs and create more work for citizens of the country. With cheap supplies means more room for companies to expand and grow. The United States imports billions of dollars of seafood each year. The fish are farm raised and come from China According to U.S. Department of Agriculture (2010). The fish being imported are catfish, salmon, shrimp and tilapia. Too much of the imported fish can drive the prices down for our very own commercial fisherman that raise and catch the seafood domestically. Imports can mean cheaper pricing for consumers in America because it is cheaper to raise the seafood in China than it is in the United States. International trade is good for a country and GDP. The surplus from the country’s exports versus imports will allow the country to import other products at a cheaper cost to the consumers. Consumer demand should increase because of the cheaper goods imported contributing to economic...
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...What is the difference between the national deficit and the national debt? What is the size of both as of 2010? Provide the current figures for the U.S. federal government debt, personal debt (such as credit cards), and our trade deficit. Which of these will have the most negative economic impact on future generations? Please explain your answer. The main difference between deficit and debt is the kind of concept each one is. Deficit is described as a shortfall of earnings under payments that is regarded as a flow concept; while, debt is described as accumulated deficits less accumulated surpluses that is regarded as a stock concept. Deficit (flow concept) has got a period of time linked to it. Therefore a deficit is decided during a period of time like a business quarter or a financial year. Debt (stock concept) is explaining something at a given time like a given day. As of 2010, the U.S. had a countrywide deficit of 1,293 billion bucks along with a national debt of 13.5 trillion bucks. The present U.S. federal government debt is 15.5 trillion bucks, personal debt is 9.9 trillion bucks, and trade deficit is 1,299 billion bucks. I think the most damaging economical effect on generations to come would be public debt. I have this stand since national deficits aren't always harmful and may really be great for an overall economy particularly if an economy is in an economic downturn because it results in the economy is growing. Moreover, if one is to look at government debt...
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...Week five Fiscal Policy Paper * Depending on the time, the economy can have many financial stages. There are times when the economy is facing a budget deficit, which means the tax revenues in the government are lower than the government expenditures. The economy can also experience a surplus and high debt, which can also drain an economy. The state of our government can affect people from taxpayers, to the elderly who are collecting social security, to children needing medical and governmental benefits for their well-being. The government debt situation can be either an advantage to the population by lowering taxes, or a disadvantage by making taxes higher. * To know how taxpayers, future Social Security and Medicare users, and unemployed individuals are affected by the U S.’s deficit, surplus, and debt. It is important to understand the definitions of deficit, surplus and debt. Surplus occurs when there is more supply than demand, as in extra resources. Deficits occur when a government's expenditures exceed the revenue that it generates. Debt is an amount owed to another person or government in economics. * Taxpayers can benefit from a budget surplus. A surplus can create a reduction in the tax rate which leads to a higher consumer’s savings rate. The less taxes that consumers have to pay allows spending or savings in other areas. An increase in national savings (reduction in tax rate) also creates additional money that can be available for banks to...
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...ECO 372 Entire Course (UOP Course) For more course tutorials visit www.tutorialrank.com ECO 372 Week 1 Discussion Question 1 ECO 372 Week 1 Discussion Question 2 ECO 372 week 1 Individual Assignment Term Definition Paper ECO 372 Week 2 Discussion Question 1 ECO 372 Week 2 Group Discussion Question ECO 372 week 2 Team Assignment Industry Overview Paper ECO 372 Week 3 Discussion Question 1 ECO 372 Week 3 Group Discussion Question ECO 372 week 3 Individual Assignment Fiscal Policy Alternatives Simulation ECO 372 week 3 Team Assignment Economic Indicators Paper ECO 372 Week 4 Discussion Question 1 ECO 372 Week 4 Group Discussion Question ECO 372 week 4 Team Assignment Economic Indicator Forecast Paper ECO 372 week 5 Individual Assignment Applying International Trade Concepts Simulation ECO 372 week 5 Team Assignment Economic Project Paper ECO 372 Final Exam Guide ------------------------------------------------------------------------------------------ ECO 372 Final Exam Guide (UOP Course) For more course tutorials visit www.tutorialrank.com 1) The largest source of household income in the U.S. is obtained from 2) The market where business sell goods and services to households and the government is called the 3) Real gross domestic product is best defined as 4) Underemployment includes people A. who work "off-the-books" to avoid tax liabilities B. who are working part time, or not using all their...
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...School of Business ------------------------------------------------- Syllabus ECO/372 Version 4 Principles of Macroeconomics Whenever there is any question including about what assignments are due, please remember this syllabus is considered the ruling document. Group Number: GA11BSB08 Course Start Date: 07/17/2012 Course End Date: 08/14/20112 Course Schedule: Workshop 1 – July 17, 2012 Workshop 2 – July 24, 2012 Workshop 3 – July 31, 2012 Workshop 4 – Aug. 7, 2012 Workshop 5 – Aug. 14, 2012 FACILITATOR: Farooq A. Khan COURSE LOCATION, DAY AND TIME: Gardena Learning Center, Tuesday @ 6PM REQUIRED READING: Students are required to read all materials available at the Course Materials site for this course on https://ecampus.phoenix.edu/portal/portal/public/login.aspx | Course Syllabus School of Business ECO/372 Version 4 Principles of Macroeconomics | Copyright © 2012, 2008, 2007, 2006 by University of Phoenix. All rights reserved. Course Description This course provides students with the basic theories, concepts, terminology, and uses of macroeconomics. Students learn practical applications for macroeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies:...
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...Weekly Reflection – Economic Forecasting Paper Sharon Hooper, Tierra Lias, Kecia Neely, Ayanna Payne, Stanley Shaw, Nathaniel Zellner ECO 372 February 19, 2014 Cynthia Cooksey Weekly Reflection – Economic Forecasting Paper Understanding the history as well as the social well-being of the world throughout the World War II era has immense importance due to the great depression faced in the United States and other countries that started just a decade before. The resource NBER Macrohistory Database would be an excellent choice to examine the economic state of some countries during and after one of the most significant wars in history. The site covers a variety of data records including business cycles, job creation, job data, and the status of import dealings, segregation, and even children’s health. The study of the causes and effects of the war are truly remarkable. A majority of the statistics were dealt with on a quantitative level with facts and little decisions of personal opinions about the war. This resource is a great source of study for the plethora of data about the world at war. The concepts pertaining to the benefits of the trade are very understandable, yet seem to be extremely selfish and somewhat cutthroat altogether. At the end of the day, it is all about supply and demand, which makes it smart business. Quantitative research provides information about the future based on past trends. The Bureau of Economic Analysis generates various closely inspected...
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...Week Four Reflection Summary ECO/372 November 5, 2012 University of Phoenix Week Four Reflection Summary In week four, Team D—Joe, Beverly, Kevin, and Rachel—learned about deficits, surpluses, and debt in relation to the macroeconomic health of the United States. The group as a was very comfortable with the discussion of the week while learning new information about the health of the economy. The following is a summary of what the team learned in regard to deficits, surpluses, debt, and the health of the economy. Budget Deficits Budget deficits occur when government expenditures exceed the amount of revenue coming into the economy through income and taxes. A deficit is a summary of how the economy measures the state of using and accounting procedures. Since World War II, the United States government has run a large amount of deficits, as opposed to surpluses. A deficit can be good or bad, depending on the specific condition of the economy. When the government runs a budget deficit, the goal is to improve the economy. When the economy is not progressing at a rate the country expects, the government will spend money to help stimulate economic growth. If the government spends money to improve revenue for the long-term, both the government and society benefit by the added debt. A budget deficit can help businesses create more jobs to limit the amount of unemployment and improve consumer income. The debts accumulated may be the result of spending on worthwhile projects like road...
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...Week 5 – Individual Assignment Fundamentals of Macroeconomics Phillip Alfonso ECO-372 August 5, 2013 Professor: Joshua Long University of Phoenix – Online PART 1 Gross domestic product (GDP) Gross Domestic Product (GDP) is the total amount of goods and services that were produced in an economy and is represented in dollars. In the US, we record what the GDP was for the entire year, however, GDP does not always have to be in the span of one year Real GDP Real GDP is a way calculate the GDP without the inflation included so that it can be easily compared to previous years, and nominal GDP would be with the inflation included. Nominal GDP Nominal GDP is the GDP for any given year that has not been modified to reflect the inflation of the US dollar. Unemployment rate Unemployment rate is the amount of people who do not have a job but are looking for one. Inflation rate This is the speed of which prices increase or decrease over time. Generally it is calculated annually or monthly. Interest rate This is the percentage of a certain amount of money that is charged to a borrower of money. When someone borrows money, they have to pay it back plus the interest. PART 2 Whenever goods or services are purchased or sold, the economy is impacted. Obviously if one person comes into a coffee shop and buys a cup of coffee, the US economy will not change, but what if one million people purchase a cup of coffee every day? Or what if those people who usually purchase coffee...
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...Economic Forecasting Paper By ECO/ 372 November 18, 2013 Learning Team Reflection Week Two List of resources to gather historical economic data and economic forecast data Some of the resources, which are useful to gather historical data as well as forecasting the new data include Bureau of Economic Analysis, U.S. Department of Commerce and FRED, Economic Time-Series Database, Bureau of Labor Statistics, Census Bureau, Congressional Budget Office (CBO), Office of Management and budget (OBM), Federal Reserve Releases (FRB), NBER'S Macro-Historical Database, New York's Fed's statistics and data, Statistical abstract of the United States and CIA world fact book. How and why each source is valuable and useful FRED database; allows citizens to see how the country's financial state is. The data includes the national economic and financial date “including interest rates, consumer price indexes, employment and population and trade data. The Bureau of Economic Analysis; includes estimates concerning national, international, and regional economic activity. It also provides statistics decision influenced by the government officials, business people, households and individuals.” (History matters. 2013. Para 3, 5). The Bureau of Labor Statistics gives specific information about employment, unemployment, consumer price index, and producer price index. The Bureau of Labor Statistics updates the...
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...------------------------------------------------- Course Syllabus Facilitator Name: Robert C. Paramo, MBA Course Name: Principles of Macroeconomics Course Number: ECO/372 Version 4 Group Number: SB12BSB02 Course Start Date: 01/24/2013 Course End Date: 02/21/2013 COURSE SCHEDULE: Workshop 1 – Jan. 24, 2013 Workshop 2 – Jan. 31, 2013 Workshop 3 – Feb. 07, 2013 Workshop 4 – Feb. 14, 2013 Workshop 5 – Feb. 21, 2013 COURSE LOCATION, DAY AND TIME: San Bernardino Learning Center, Thursdays, 6:00 p.m. to 10:00 p.m. REQUIRED READING: Students are required to read all materials available at the Course Materials site for this course on https://ecampus.phoenix.edu/portal/portal/public/login.aspx Whenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Copyright Copyright ©2009 by University of Phoenix. All rights reserved. University of Phoenix© is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft©, Windows©, and Windows NT© are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix© editorial standards and practices. Policies Students/learners will...
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...LEARNING TEAM CHARTER – TEAM “A” |Course Title |ECO/365 - PRINCIPLES OF MICROECONOMICS | | | | | | | | | | | Team Members/Contact Information |Name | |Phone | |Time zone and | |Email | | | | | |Availability During the Week | | | |Tierra Lias | |404-372-2436 | |Mon – Fri (8am-5pm: Text Only) | |Tierra.lias@gmail.com | | | | | |Sat-Sun (any time after 2pm) | | | | | | | |Flexible by phone any other time | | | |Keith | |702-541-5746 | |Anytime after 6:30 | |skeithshaw@yahoo.com | |Shaw | | | | ...
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...Aggregate Demand and Supply Models ECO/372 Aggregate Demand and Supply Models The following report will detail out the current state of the U.S. Economy. The report will discuss the following: * Current economic state in regards to unemployment, expectations, consumer income and interest rates * The existing effect of the economic factors on aggregate demand and supply * Fiscal policies that are currently being recommended by government leadership * The effectiveness of those fiscal policy recommendations from the Keynesian and Classical model perspectives. Unemployment rates fluctuate when the supply and demand for human resources are out of balance. The supply and demand are a result of the interaction of economic, policy and structural factors. Economic factors affect both supply and demand. The demand for goods and services increases production which results in the demand for workers, increasing the employment rate. The common thought among economists is that market-driven economies move in cycles and when they drop below certain levels unemployment may result. The moving of production from high wage countries to low wage countries is another factor that increases unemployment. A declining manufacturing sector will result in not enough jobs to go around along with third world competition. While new jobs are being created in the technology and service sectors it is not enough to make up for the amount of jobs that have been lost due to moving...
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...ECO 372 Course Syllabus Course Description This course provides students with the basic theories, concepts, terminology, and uses of macroeconomics. Students learn practical applications for macroeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Policies Faculty and students will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials Colander, D. C. (2010). Macroeconomics (8th ed.). Boston, MA: McGraw-Hill/Irwin. All electronic materials are available on the student website. Week One: Fundamentals of Macroeconomics | | Details | Due | Points | Objectives | 1.1 Explain the economic interaction of resources among households, government, and business. 1.2 Describe gross domestic product, inflation rate, unemployment rate, and interest rate. 1.3 Identify sources of historical economic data and economic forecasts. | | | Reading...
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...Fundamentals of Macroeconomics Paper Kimberly Gay, Janine Lewis, Rosalyn O’Brien, Vicente Rodriguez, Marie Watts ECO/372 January 30, 2015 Kathy Crump Introduction There are many factors that contribute to the current state of the United States economy. An analysis of the current performance of certain factors can help to determine the financial decisions and the fiscal policies the government will need to recommend for the future. We will discuss in detail four important factors; unemployment, expectations, consumer income, and interest rates, their existing effect on aggregate demand and supply as they relate to the Keynesian and Classical model. Unemployment According to the Bureau of Labor Statistics (BLS), the current and official unemployment rate is the lowest is has been since 2008. As of December of 2014, the official unemployment rate is at 5.6 percent ("Bureau of Labor Statistics", 2015). Before this, the lowest it has been was in 2008 when the percentage was at 5 to 5.4. Though this recent recession has put a strain on the U.S. economy, there seems to be a slow improvement on the unemployment rate. Time will tell if the upcoming fiscal policies will see this trend continue or cause an increase in the unemployment rates. Expectations Expectations of consumers and businesses determine the future of the economy. In June of 2014, the American people’s outlook on the U.S. economy experienced a one-year high of 48.5, according to the...
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