Macro 102 Week 8 DQR

Week 8 Macro DQR

Marcus Pegques

Hello Everyone,

This is week eight in macroeconomics, and it is time to do some course reflection. One of the most important things that I learned from this class is the economy works in a business cycle. It moves between expansionary and contractionary periods. Before this class, I thought that a recession was like some crazy occurrence in the economy. Now I understand that this happens naturally but if it persists for an extended period, it can do real damage. In the past, I would watch CNBC cable network and I would not fully understand the terminology that was being used. After reading and researching in this class the comments now make sense to me, and I can tell when some of hosts are throwing around words. This class has really enhanced my ability to interpret economic policies and better understand how I contribute to the larger picture of the economy. This is applicable in measuring the economic activity in a country and it provides a road map into what direction the state of the economy is in. Understanding the business cycle makes the data used in calculating the Gross Domestic Product (GDP) relevant. Meaning if we think of the business cycle as map then the Gross Domestic Product would be the legend for the map. They are both vital in decision making and helping everyone to make better informed choices. With my better understanding of the business cycle, I can make choices that maximize my future potential. In using my new understanding of the business cycle, I can take advantage of the contractionary period by advancing my skills or education in advance of potential unemployment. Once I have completed my training or education I can return to the labor with better skills or increase knowledge capital.

Response –

Christopher Fowler

Hello Classmates,

I’m glad to have completed this class with all of you. This had been a very enlightening experience given the subject of Macroeconomics. Going into the class I did have a mild grasp on what macroeconomics had to offer. Much of the time we as the consumer / middle class contributor hold the main body of the economy’s health at hand. Policy makers are more or less the figure heads trying to manage out a ways in growing the nation. This is done through supporting economic growth establishing the standard of living for the people in the country. Policy makers ensure that the country’s unemployment rate remains low. While monitoring the money flow going into the populous is met accordingly to current inflation. The monetary policy outlines with the output of domestic development the banks upholding the trust of federal policy dictating with the concerns of loaning revenue. The balancing of investment internally and globally make of the reinforcement of the value of a country’s currency on the open global market.

The most important economic principle is the trust between the people and the policy makers upholding the balance of law and prosperity of its people without abusing their authority with personal gains. This is time and time again throughout the age’s one law that is guaranteed to be broken. Human nature is never satisfied even when progress and growth are being witnessed first handily. The 2008 recession still lives on to this day. The bailouts of banks was the answer for temporary hold off. Even a decade later the current economy is about to witness another recessions due not holding those accountable for of their own personal greed. (Banking System and Policy Makers).

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