Fundamentals of Macroeconomics
Fundamentals of Macroeconomics Final Assessment: Outline and Rubric Purpose of this Assessment In the Fundamentals of Macroeconomics competency you learned about factors of the economy on a large-scale, specifically as it relates to decisions made by countries and governments. This Final Assessment will encourage you to think deeply and critically analyze macroeconomic concepts while tying them to current events. The purpose of this assignment is to display your understanding of how economic concepts are applied and to see the broader perspective of how it shifts national practices. Items Required for Submission 1. A 5 – 7 page paper, on recent actions or statements of the US Federal Reserve board over the last 6 months that relate to any two of the macroeconomic factors noted in Step One. Step ONE: Preparation Review the objectives and topics within the competency to gain a clear understanding of these macroeconomic concepts. For this Final Assessment, you will write a paper on recent actions of the US Federal Reserve board over the last 6 months that relate to any two of the following macroeconomic factors: ● ● ● ● ● Gross Domestic Product (GDP) Inflation Price Indexes Unemployment Aggregate Supply Final Assessment: Outline and Rubric 1 Fundamentals of Macroeconomics Final Assessment: Outline and Rubric ● ● ● ● ● ● ● ● Aggregate Demand Wage and Price Stickiness Investment-Savings Curve Liquidity Preference-Money Supply Curve Keynesian Cross Diagrams Business Cycles Monetary Policy Fiscal Policy To prepare for writing this paper, you will want to research current events related to the US Federal Reserve Board, as well as the two macroeconomic factors that you have decided to select. Step TWO: Write the Paper Write a 5 -7 page paper (not including the title page and reference page) in the most current APA format and includes the following components: Title Page in APA format Content (5 – 7 pages) ● Introduction ○ Identify the two macroeconomic factors from the topics above that will be addressed within your paper. ○ Provide a brief description of a current event (within the last 6 months) related to actions taken or statements made by the US Federal Reserve Board. ○ Make a connection between the current event and the macroeconomic concepts you will discuss in the paper. ○ Clearly highlight the purpose of the paper and some of the components you will assess. ● Critical Analysis ○ Explain the current event that your paper is focused around related to the US Federal Reserve Board action or statement. ○ Consider how this event has an impact in the short and long term. ○ Discuss any criticisms of the actions or statements you described. ○ Utilize key terms and concepts that you learned within the competency to support your key points. ○ Provide a deep explanation of the macroeconomic concepts you selected using competency content and external sources. ● Visualization ○ Include any type of a visual in the body of your paper to further illustrate the current event or macroeconomic concept you are addressing. Examples could include: a graph, chart, table, model, infographic, etc. ○ Explain the connection that this visual provides with the content being discussed within the paper. ● Recommendations ○ Based on all of the items previously discussed, what are your recommendations? Final Assessment: Outline and Rubric 2 Fundamentals of Macroeconomics Final Assessment: Outline and Rubric ○ How should the US Federal Reserve board proceed considering impacts to different sectors? ○ What outcomes could you see emerging if your recommendation is followed? ● Conclusion ○ Provide a clear and concise recap of the key aspects of your paper. ○ Make connections between your critical analysis and recommendations from the reflection section. ○ Avoid introducing new concepts in the conclusion of the paper. References ● Support your analysis with a minimum of five scholarly references, which can include journals, periodicals, government websites, and case studies, as well as industry-specific journals, reports, papers, and newspapers such as The Wall Street Journal, The Economist, Market Watch, CNBC, or others. Step THREE: Complete Checklist for Submission Before you submit your work, check to see if you have met the criteria noted below. Did you: ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ Include an introduction that provides an example of a current action or statement of the US Federal Reserve (over the past 6 months)? Verify your introduction provides an overview of at least two macroeconomic topics that will relate directly to the remainder of the paper? Clearly articulate the US Federal Reserve action or statement? Expand on the short term and long term impacts of the Federal Reserve action or statement? Include supporting details and examples of criticisms to the Federal Reserve action or statement? Integrate, connect, and apply a visualization that strengthens your key points? Provide thoughtful in-depth strategies that the US Federal Reserve Board could take? Include recommendations that reflect the proper use of content terminology? Synthesize and make connections between the critical analysis and recommendations in the conclusion? Utilize APA formatting and standards guidelines? Re-read to ensure clear writing mechanics are utilized throughout? Include at least five references in your References page and integrated as an in-text citation within the body of the paper? Step FIVE: Submit Your Work ● Your completed files should be submitted through the Final Assessment page of your competency. ● Please note, for files smaller than 10MB (e.g., most Word documents), use the corresponding “+UPLOAD STUDENT FILE” button to upload your Final Assessment documents. For larger files of any type (e.g., voice over PowerPoint files, video presentations), please use the optional TEXT EDITOR to provide a URL where your tutorial faculty can download your file. ● How you create a download URL is up to you, but various free online providers, including Google Final Assessment: Outline and Rubric 3 Fundamentals of Macroeconomics Final Assessment: Outline and Rubric Drive and Dropbox, offer this service. Please make sure that the URL you provide can be accessed by anyone with the link. For further instructions on how to create public links for uploaded files, consult the support pages for your chosen provider. List of Templates/Resources Needed The following are some resources that could provide support to assist in your research of the macroeconomic concepts you selected and the current Federal Reserve Board action you are reviewing: ● ● ● ● ● Federal Reserve System – Recent Developments Federal Reserve System – News and Events CNBC – Federal Reserve The New York Times – Federal Reserve Principles of Economics – See Left Side Table of Contents for Specific Topics Final Assessment: Outline and Rubric 4 Fundamentals of Macroeconomics Final Assessment: Outline and Rubric Scoring Rubric for Final Assessment Criterion Introduction Critical Analysis Visualization Recommendations Conclusion EMERGING Introduction provides the reader with a vague understanding of a current event action or statement of the US Federal Reserve and does not connect to two macroeconomic concepts. EXEMPLARY Introduction provides the reader with a clear understanding of a current event action or statement of the US Federal Reserve and effectively connects to two macroeconomic concepts. Does not articulate Articulates a Clearly articulates a a current action by current action by current action by the US Federal the US Federal the US Federal Reserve over the Reserve over the Reserve over the past six months. past six months. past six months. Limited to no Makes connections Thoughtfully makes connection to two to two deep connections macroeconomic macroeconomic to at least two concepts. concepts. macroeconomic concepts. Does not include a Uses a visual to Innovatively and visual to enhance enhance and creatively uses a and support the support the key visual to enhance key concepts concepts presented and support the presented in the in the paper. key concepts paper. presented in the paper. Does not present Presents partial Demonstrates an Demonstrates a best practices for best practices for adequate sophisticated the US Federal the US Federal understanding of understanding of Reserve strategy by Reserve strategy by best practices for best practices for excluding somewhat the US Federal the US Federal recommendations. providing Reserve strategy by Reserve strategy by recommendations. providing providing clear recommendations. recommendations. Paper does not Paper somewhat Paper explains Paper clearly and explain what has explains what has what has been succinctly explains been covered, been covered, covered, providing what has been providing no providing a limited a connection covered, providing connection connection between the critical a clear connection between the critical between the critical analysis and between the critical analysis and analysis and recommendations. analysis and Final Assessment: Outline and Rubric DEVELOPING Introduction somewhat provides the reader with an understanding of a current event action or statement of the US Federal Reserve and somewhat connects to two macroeconomic concepts. Somewhat articulates a current action by the US Federal Reserve over the past six months. Somewhat connections to two macroeconomic concepts. Somewhat uses a visual to enhance and support the key concepts presented in the paper. PROFICIENT Introduction provides the reader with a reasonable understanding of a current event action or statement of the US Federal Reserve and connects to two macroeconomic concepts. 5 Fundamentals of Macroeconomics Final Assessment: Outline and Rubric Writing Mechanics recommendations. Many new ideas or concepts are introduced. Does not use outside sources to support analysis. The paper lacks clarity and is not well-written. May be confusing or too long or short. Numerous errors in spelling, grammar, and/or punctuation. Limited, if any, adherence to APA standards. Final Assessment: Outline and Rubric recommendations. Some new ideas or concepts are introduced. Uses less than five sources to support the analysis. The paper is somewhat logical and well-written, but is too long or short. Some errors in spelling, grammar, and/or punctuation. APA standards are somewhat followed but with numerous errors. No new ideas or concepts are introduced. Uses at least five reputable sources to support the analysis. The paper is logical, well-written, and of the required length. There may be one or two minor errors in spelling, grammar, and/or punctuation. APA formatting standards are followed with a few minor errors. recommendations. No new ideas or concepts are introduced. Uses five or more reputable sources to support the analysis. The paper is logical, well-written, and of the required length. Spelling, grammar, and punctuation are accurate. APA formatting standards are followed; citations and reference page are correct. 6
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