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Final Research Project (Essay)
·         The hypothesis the student has explored in the research study and the relation of this hypothesis to ECO2013 course materials.

·         The process the student has used to explore this hypothesis.

·         An explanation of the student’s finding resulting from the research study regarding the hypothesis, and an attempt to analyze and explain these findings in terms of assumptions.

·         A list of references used for the project.

Please review the following requirements carefully.

·         The essay must be 500-1200 words in length.

·         The topic should be a latest news item or current event, or policy debates related to macroeconomics.

·         The document must be submitted in Microsoft Word format.

·         The essay must consist of at least five paragraphs, including an introduction and conclusion.

·         All ideas from outside sources must be cited in APA Style.

·         You should use several types of sources for your information.

·         Additional supporting information such as charts of supporting data and/or find a journal articles or website(s), or videos, etc. might be presented.

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Example 1 Economic Indicators of a Market Crash

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ECON Essay

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Example 3 Effects of National Debt Macro

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Example 2 Economics Research Project - Essay Macro

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ECO2013 Final Presentation- Healthcare Policy in the United States (STILL NEEDS WORK)

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Assignment: Essay Draft
Write essay draft. Include at least three paragraphs: the hypothesis; the economic problem; the policy. Cite all sources in text and in the reference list.

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-         News Articles
Scan or provide a link to at least three articles relating to economic issues/problems that you will be analyzing in the assignment Final Research Project.

-          Explain how each article relates to your research topic and adds something new to what you learned about the topic.

-          These articles must be recent.

-          Include only credible sources relating to your Final Research Project topic.
Answer the question: “What are you interested in economics?” Hypothesis (economic prediction) is a special kind of prediction that forecasts how one economic variable will affect a second economic variable.
The hypothesis can be written using the “If . . . then . . .” format. FORMAT: If the (independent economic variable) is [increased/decreased/etc.], then the (dependent economic variable) will [increase/ decrease /vary /etc.]. For example, the income of individual households and business profits are independent economic variables that affect overall business performance and economic growth. The price of a product (independent economic variable) will influence the demand for it (dependent economic variable).

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With credit cards being such a huge factor in the economy, in 2018 we will discover the pros and cons of paying down those credit cards and how that can help or hurt your credit score. In this article, it talks mostly about paying down those credit card balances, before they raise your interest rate. The author wants to help people learn the thought process of these credit card companies and how they plan to raise their interest rates, when they already start their interest rates off in the 20% range.

I learned a lot from this article. Using credit cards has become so popular in in the US. People rely on credit cards, when their funds become low, more than ever, setting the new record of $1.023 trillion owed to credit cards, in November. Getting approved for a credit card, is so simple and takes less than 10 minutes. Yes, there are positives to using credit cards, like raising your credit and being able to use them when you don't have the cash to spend on what you need/want. You may think there’s no risk to using credit cards, but there are. One of the risks being the interest rates.

The interest rates already start off high as it is, but in 2018 they're expected to just keep rising. Some credit cards APR starts at at least 20%, if not higher. Making a simple $250 purchase close to $500 when you calculate the interest that you're stuck paying, on top of the responsibility of remembering for the next 10 months to make your minimum payment, at least.

Using credit cards has become so popular over the years, with people getting so in debt due to these little plastic cards. When you get a $1,000.00 credit limit, it becomes hard to control your spending. Thinking to yourself "it’s only $30, I can just put it on my credit card." Slowly you're adding more and more to your amount owed, and next thing you know your card is maxed out, and you're stuck paying the minimum payment for the next 3 - 4 years.

I believe the author chose this topic and to write about it to help the US manage their credit cards and use them responsibly, because she may have got stuck paying more to the interest to the principal payment. With that, I believe it will help me with my research topic, because more people have credit cards than those who do not have credit cards. The problem with the economy is that seems to be charging interest on just about anything and everything, and the author wants to educate people in what precautions to take when getting a credit card and making purchases on that card.

I believe this article helps support my argument,  and is related in many ways. I have credit cards, and I have calculated how much I pay to my purchases, and how much I have, and will have to pay toward interest alone. The interest rate on one of my cards is 26.9% which means every month, I pay almost 27% of my current balance to just interest. If my balance is $1,000 that is $270 toward just interest! Do you know what I could use $270 for???

News article sources:

Pay Down Those Credit Cards, Before Rates Rise Further

By Ann Carrns

https://www.nytimes.com/2018/01/12/your-money/credit-cards-debt.html

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Discussion: What Is the Biggest Economic Problem?
Read the latest news about United States Economy, including commentary and archival articles published in The New York Times, Economist, American Economic Journal, etc. relating to economic issues/problems such as GDP, inflation, unemployment and rising living standards. Select a problem to your research.

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During the first week you will de developing your understanding of context for your Econ project and being carrying out your research.

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Peer Critique of Introductory Paragraph
Identify your economic issue/problem, formulate your economic assumption(s), and overview the content of your essay. Post your introductory paragraph (s) of Final Research Project on the discussion board.
Respond to at least one post in the same manner you would in small groups in class to receive full credit. Reply to a classmate’s opinion stating whether you agree or disagree and why with at least 3 sentences to receive full credit.

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Does an increase in concentration in the mobile wireless industry increase combined market power and reduce the competition? 

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Does an increase in concentration in the mobile wireless industry increase combined market power and reduce the competition? 

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Oligopolies are common in the US economy, and concentration is increasing in many industries, for example, in the mobile wireless industry.
The hypothesis:

If companies in the mobile wireless industry can increase their concentration, then their combined market power will increase.

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September 26, 2017
A new federal report affirms what many consumers have experienced for themselves: There's a functioning and competitive marketplace for cellular service.

Amid falling prices for wireless plans, the growing popularity of unlimited data and recent improvements in network quality and coverage, the wireless industry today is marked by effective competition, the Federal Communications Commission said Tuesday.

The finding is important because it sets the tone for policymaking at the nation's top telecom regulator. But as merger rumors continue to swirl around two of the country's four national providers, T-Mobile and Sprint, some are wondering whether this blissful period for consumers is destined to last.

"Like everyone else, I read reports of mergers waiting in the wings," said FCC Commissioner Jessica Rosenworcel. "So while this report celebrates the presence of four nationwide wireless providers, let's be mindful that a transaction may soon combine two of these four."

Top Sprint executives have made no secret of their desire for a deal with T-Mobile. Consolidating could put the combined company in a better position to compete with larger rivals such as Verizon and AT&T - at least, that's been the argument from Sprint chairman Masayoshi Son ever since he first tried to sell regulators on the idea in 2014. T-Mobile and Sprint didn't immediately respond to a request for comment.

But talks of a deal are coming at a sensitive time, as members of both political parties have expressed concern over the rising concentration of power in numerous industries, including the technology and telecommunications sectors. Whether a deal between Sprint and T-Moble would be more likely to benefit consumers or to hurt them is one question the FCC would be responsible for answering if the two companies sought to merge.

But Tuesday's report doesn't try to peer into the future; it's largely a snapshot of today's conditions. "Most reasonable people see a fiercely competitive marketplace," said FCC Chairman Ajit Pai. "This is strong, incontrovertible evidence."

Asked about Rosenworcel's remarks, Pai said that Congress's mandate with the competition report was for the FCC to study the current state of wireless competition, not what it might be in the future. The FCC takes no position on how many national carriers there ought to be to preserve competition, he said.

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The wireless industry is competitive, the FCC finds. But some wonder for how long.

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September 26, 2017 A new federal report affirms what many consumers have experienced for themselves: There's a functioning and competitive marketplace for cellular service. Amid falling prices for wireless plans, the growing popularity of unlimited data and recent improvements in network quality and coverage, the wireless industry today is marked by effective competition, the Federal Communications Commission said Tuesday.

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Assignment: Source Analysis
Write 1-page complicating and analyzing the argument of one of the sources for your final research project.  Cite your source in text by using APA formatting style.

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The biggest economic problem for the U.S. Economy is the uncertainty of the stock market and tax cut for the wealthy.   The economy does not work for the middle class and the poor in comparison with the rich, because the wealthy are getting wealthier, while the poor and middle-class citizens are living paycheck to paycheck, making it difficult to build wealth and climb the economic ladder.  There is a high unemployment rate in the lower class and it has become problematic, because money drives better living conditions.  With money through unemployment, living conditions become a hardship.

Researchers have also drawn links between higher rates of unemployment and major social problems to higher crimes rates and greater political unrest, as well as higher rates of depression, heart disease, and other illnesses among unemployed individuals as stated in Economics Principles, Problems, and Policies on page 518.  When inflation increases, it becomes troublesome for low-income families because it will cost more to purchase the goods they need to survive.

According to page 518, “if the family’s income does not rise as fast as the price of the goods and services that it consumes, it won’t be able to purchase as much as it used to and its standard of living will fall” (Economies, 2018).

According to the New York Times, “Stock market has begun a “correction” – financial jargon of at least 10 percent.”   The investors are concerned about the stick market and how far it will plunge.  The report also stated the following: “Markets tend to overshoot, up, and down, and they could certainly plunge much further” (Jeff Sommer, 2018).  Moreover, “The Fed has been tightening monetary policy while the federal government is loosening fiscal policy by cutting taxes, and then adding hundreds of billions in government spending in a last-minute budget deal on Friday.  Furthermore, the Trump administration has been pushing for lighter regulation of financial markets.   These shifts during a period of stress raise short-term risks for investors in stocks and bonds” (Jeff Sommer, 2018).

The scariest thing about the market right now is the shocking response of traders who had become accustomed to the unsustainably placid conditions that have been unceremoniously swept away (Jeff Sommer, 2018).

Despite the up-and-down swings of the stock market, it is not a declaration that the market is in deep trouble and will crash, because it will not.  One cannot assume where stocks are heading in the upcoming weeks but, based on history, they will eventually rise. “Eventually” is a word with a lot of wiggle room, however. Markets tend to overshoot, up and down, and they could certainly plunge much further (Jeff Sommer, 2018).

The timing is awkward. The Fed has been tightening monetary policy while the federal government is loosening fiscal policy by cutting taxes, and then adding hundreds of billions of dollars in government spending in a last-minute budget deal on Friday. Furthermore, the Trump administration has been pushing for lighter regulation of financial markets. These shifts during a period of stress raise short-term risks for investors in stocks and bonds (Jeff Sommer, 2018).

On Wednesday, William C. Dudley, president of the New York Fed, told the New York Times the following: “My outlook hasn’t changed just because the stock market is a little bit lower than it was a few days ago. If the stock market were to go down precipitously and stay down, then that would actually feed into the economic outlook.”

On February 8, the New York Times reported that the unemployment rate is already low, and the new tax cut may push economic growth even higher. Wall Street knows that if officials think inflation is poised to exceed its 2 percent target, they will raise interest rates to try to stop that from happening.

According to Yahoo Finance, on February 6, 2018, the tax cuts are still likely to boost profits, but markets are now factoring in some of the problems associated with tax cuts that Trump and his fellow Republicans never mentioned, and perhaps didn’t even recognize. For the economy, the main concern seems to be inflation, which could run a little deeper than investors have been expecting. Why might that happen? “Too much stimulus,” writes Greg Valliere of Horizon Investments. “The economy is in danger of over-heating, thanks to massive tax cuts, out-of-control government spending, synchronized global growth, and perhaps the most important factor: a U.S. labor market that’s exceptionally tight, with inevitable wage pressure coming this year.”

The tax cuts are pushing inflation expectations higher for a couple reasons. Bigger profits put more money into the economy, potentially pushing up spending, wages and asset prices. Taken together, that’s the inflationary surge, or “overheating,” many analysts worry about. There’s an optimal level of all these things (which nobody can ever pinpoint exactly), and then there are levels that are too high. The judgment of the markets right now is that these levels are exceeding too high, and the tax cuts are contributing to that.

Harris wrote in a recent note to clients: “This means ‘crowding out’ of private investment, offsetting the incentive of lower tax rates. For markets, it means faster Fed hikes, rising bond yields and a stronger dollar. And all of those things are bad news, relatively speaking, for stock prices” (Rick Newman, 2018).

In conclusion, I believe the economy will not get better in the interim, but it will become better in the future.  However, no one should decide to sell or buy stock right now.   It’s better to wait and see where the economic is going.  In regard to the tax cut, it is disservice to the hard-working middle class Americans.

References

Economies, M. B. (2018). Economics Principles, Problems, and Policies TWENTY-FIRST EDITION. Penn Plaza, New York: McGraw-HIll Education.

Jeff Sommer, s. (2018, February 9). Business/stock market. Retrieved from 2018 The New York Times Company: https://www.nytimes.com

Rick Newman, C. (2018, February 6). Retrieved from Yahoo: https://finance.yahoo.com/

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What Topics Can You Study?

Your topics should be a latest news item or current event or policy debates related to macroeconomics. You should use several types of sources for your information. You might also present charts of supporting data and/or find a journal articles or website(s) that provide additional supporting information.

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One of the sources I will be using for my final research project is titled, “The economic implications of cyberattacks” by Nandini Rao. I learned many things from reviewing this article, including a technique for mitigating against cyberattacks. For instance, one idea the government has provided to help secure our technology through cybersecurity is to make the companies that largely rely and invest on technology to begin to also invest in cybersecurity through tax incentives. It was stated that the money these businesses use to prevent cyberattacks could be taxed at lower rates. This information relates to my research topic because the basis of my project is on that of cyber-attacks and cybersecurity and how much it is affecting the economy. With the momentous up-rise in technology, the investment the government would have to put into all the businesses that rely on technology would also greatly affect all those businesses customers. These companies’ prices would rise due to the advancement in cybersecurity making it more economically difficult for citizens to pay. The authors major message in the provided article is the effects of the economic implications of cyberattacks and how the advancement in technology has produced a downfall in the economy. The author used many helpful methods throughout the article, for example, she broke it up into three sections; “Costs of attacks”, “Rise in banks”, and “Mitigating against cyberattacks”, in which she explicitly explained each with valid information. The information I know about the author of this article, Nandini Rao, is that she has a Masters Degree in Financial Economics from Saiid Business School, University of Oxford and BSc (Honors) in Economics from Aston University. This tells me that this author is very knowledgeable in the field of economics, making her a creditable source to comment on this topic. The intended audience for this source would be individuals that are mature enough to realize the impact of cybersecurity on our economy, this would not be a source for children or young teenagers whom do not understand the capacity of this real-life issue. Also, due to the high vocabulary used within this article, it gives out another aspect as to what audience this is intended for. It affects the source positively because in most cases, it will be mature mindsets who are capable of comprehending the information applied in the article. I can explain the economic issue of cybersecurity and cyber-attacks very efficiently using this source. For instance, the impact could of cybersecurity, could begin to negatively affect the economic growth in greater measures and much sooner than citizens may expect. GDP throughout the United States will be altered with the greater and more continuous investment the government will need to spend in cybersecurity, with that also comes the additional costs and the consumption that citizens will need to invest in for insurance for their technological devices and lifestyle this nation is falling into. As cyberattacks occur more regularly, it not only places the individuals of the United States at risk, but it also places businesses along with banks in the direct eye of attacks, creating even greater financial damage for our government. Also, with damage to our nation, comes the need for finding the individuals behind these attacks, again, the governments need to invest more into resources to find answers, which otherwise could be invested in more productive goods and services for our country. Nevertheless, this article supports my argument and research project in a very positive and informative way.

Works Cited

The economic implications of cyberattacks | GRI. (2017, September 28). Retrieved February 18, 2018, from

https://globalriskinsights.com/2017/08/economic-implications-cyberattacks/