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One primary purpose of this course is the application of macroeconomic theory to contemporary issues and situations. Unless this bridge is made, students often fail to see the applicability (and limitations) of theory as a heuristic modeling device for attempting to explain the complexities of events which engulf us. Thus, a requirement of this course is a policy prescription paper that draws upon the materials and content of the course.
You are to write a paper, approximately 10 pages in length (graphs and tables may be extra), typed, double-spaced, using standard style and footnote criteria. This paper should recommend a strategy for responsible macroeconomic management of the US economy over the next 10 years, including both short-term and longer-term strategies.
In developing such a strategy, you must demonstrate that you can use the theories and concepts we study in the course as you make policy recommendations. Your paper must also demonstrate that your recommendations are comprehensive, i.e. cover the important dimensions of the US economy which must be an integral part of any sound management strategy. Remember that you are writing this paper as an economist: the political feasibility of what you recommend is not unimportant, but secondary to sound economic thinking as a newly minted macroeconomist!
You should be careful to reflect in your paper the opinions of other macroeconomic experts besides yourself, both those who agree with your recommendations and those who differ wildly. To do this, you should look for several editorials, articles, books and government reports on U.S. macroeconomic conditions, trends, and recommendations. You might also want to look at the expressed positions of various organizations that take positions on economic management of the US economy (some of which is available via the World Wide Web).
The paper should be viewed as one way students can demonstrate their comprehensive grasp of macroeconomics and its application to the complexities of a national economy like the US.
Be sure that your completed paper meets the attached Check List for completed papers; these guidelines will assure that your paper is acceptable and can earn the highest grade possible for the quality of work performed.
You are to turn in your paper in the appropriate section of your Course
Notebook by Noon on the last day of the Block.
Check List For Macroeconomics Paper Completion
1. Use a fresh, dark printer ribbon to print your paper!
2. Cite materials you use either with short-hand references in the body of the paper or as footnotes. ALSO list these materials in a bibliography at the end of the paper..
3. Be explicit in using the theory and concepts from the text and class. Much of your grade will depend upon the sophistication with which you do this.
4. Put graphs right behind the page(s) where they are discussed or if you are drawing them with the computer on the page where you discuss them, never put all of your graphs together at the end of the paper.
5. Number the pages of your paper; if you wish, have the computer generate numbers for pages of text, then number by hand pages with graphs xx-a, xx-b, etc. and insert them following page xx which explains the graphs.
6. Proofread your paper before you turn it in.
7. Sign the Honor Code.
8. Relax, and look upon the paper as an opportunity to consolidate and
demonstrate to yourself and its readers that you have a comprehensive understanding
of the course materials.