Description The goal of the reflection paper is to show that I read the chapters and that I understood the concepts. You can relate each chapter to events that occurred in the U.S. The paper has to be over 600 WORDS (an average of 200 WORDS PER PARAGRAPH ). Anything less than 600 WORDS will be considered incomplete. Please be aware that your work will be scanned for plagiarism. READ EACH CHAPTER BELOW !!!!!!!!
Topic: The Keynesian Perspective
Description: The Keynesian perspective focuses on aggregate demand. The idea is simple: firms produce output only if they expect it to sell. Thus, while the availability of the factors of production determines a nation’s potential GDP, the amount of goods and services that actually sell, known as real GDP, depends on how much demand exists across the economy.
Learning Objectives:
Aggregate Demand in Keynesian Analysis
The Building Blocks of Keynesian Analysis
The Phillips Curve
The Keynesian Perspective on Market Forces
Topic: Monetary Policy
Description: This chapter aims to describe how monetary policy is implemented as well as to outline the impact of money supply and interest rates to induce changes in the macroeconomic structure.
Learning Objectives:
Contextualize the role of the Federal Reserve System in the United States or Central Banks in general around democratic nations.
Describe the importance of bank regulation from a historical perspective.
Infer how central banks execute monetary policy and potential pitfalls of policy implementation.
Topic: Government Budgets and Fiscal Policy
Description: In this module students will learn how the federal government uses taxation and spending as a tool to fight recessions of inflationary processes.
Learning Objectives:
Describe how taxation and spending influence government budgets, influencing federal deficits, and national debt.
Describe the mechanisms of fiscal policy to fight recessions, inflation, and unemployment.
Analyze the use of automatic stabilizers embedded in the economic system.
The debate over shortcomings with the use of the discretionary fiscal policy.
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