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Elementary Macroeconomic Group Think Homework | College Assignment Help

Introduction:
This “Elementary Macroeconomic Group Think” activity is designed to encourage you to bring together knowledge connecting tools and principles learned in previous modules to tools and principles you are learning in this module.
This activity is similar to the television game show “Jeopardy”, in which game show contestants choose categories containing questions they will respond to in order to earn points. There are six issues in total and each issue is connected with a set of five tools. (The issues and tools are included in Tool Kit Options section towards the end of the document.) Each issue itself is linked to the listed module outcomes which will assist you in drawing connections as you “map” tools to issues.
Process:
This is a group work activity. The group members and leader will be selected by the instructor. You need to work with up to five of your peers to piece together an issue utilizing six economic tools. You will also use module outcomes as aids or hints to connect between tool(s) and the selected issue. In this search for meaning, you are acting as a “forensic economist.” You will develop a theory explaining the apparent connection between the five economic tools your group is offered, using module outcomes as additional clues.
Note that this project spans two modules. A group discussion area will be created for each group to communicate and work in. There are several steps for your instructor to verify your work in a two-week span. It is important that the submissions are in the group discussion forum. (Although you may also use other tools that helps your collaboration, such as Zoom or Google Docs, the instructor can better verify your group activities in the group discussion forum in Canvas and you will have one location to exchange information).
At the end of group work, a consensus reflection paper will be submitted. Along with the paper, each student will submit a Group Evaluation Form.
The expectation is that everyone will participate and perform their roles in the project. In this case, all members in the group will receive the same grade. If there is a participation issue for any particular member, the instructor will use the information within the group discussion forum and the Group Evaluation Form to judge and grade member submissions. While there are six steps in total each member is allocated three steps in total (as described below). The instructor will thus deduct a third of the total grade for any member who misses one step. A member missing all three steps will receive a grade of 0.
Module 4 Activities
Step 1: Summary of the tool

The instructor will assign one of the six issues and a group leader to a group in the beginning of Module 4. Each group member should select any one tool connected to an issue and provide a summary 300-500 words in the group discussion section. No two members should select the same tool. If you prefer a particular tool, inform other group members in the discussion forum in advance. Once a group member has posted information on a tool, other group members need to select a different tool. The first group member to make their preference clear in the discussion forum gets to describe that tool. All group members will contribute towards step 1.
Your summary will include:
• A description of the tool (150-250 words) considering the historical context, origin and nature of the tool.
• A discussion of how the tool assists economists in understanding the selected issue (150-250 words).
Group members will submit a post in the group discussion area by Thursday 11:59 p.m. ET of Module 4.
(Note: The number of tools selected will depend on the number of group members-each group member selects one tool)

*Our issue is Output Gaps and the tool I chose is stagflation.

Group Think Resources:

DeLong, J. Bradford. (1998). The Shadow of the Great Depression and the Inflation of the 1970s. Federal Reserve Board of San Francisco Economic Letter.
Onaran, Y. (2019). The Volcker Rule. Bloomberg Business News.
Jahan, S., and Mahmud, A. (2013). What Is the Output Gap? International Monetary Fund, Finance and Development, September 2013, Vol. 50, No. 3.
Engeman, K. (2019). The Fed’s Inflation Target: Why 2 Percent? Federal Reserve Bank of St. Louis.

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