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ECO 372 Final Exam

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ECO 372 Week 1

Week 1 - Complete

DQ 1. Using the Bureau of Labor Statistics, the Federal Reserve
Bank of St. Louis, or other reputable source, select a key
economic indicator that has not been discussed by another
student. Discuss how the indicator was created and its current
value. What does this key indicator say about the current
economic condition?
DQ 2. What is the difference between real and nominal GDP?
Does GDP accurately reflect the nation’s welfare? Why or why
not? How can data on a country’s GDP be used to make a

political argument? In your opinion, how much does this
happen in the public arena? Please explain your answer.
DQ 3. Identify economic factors that affect the real GDP, the
unemployment rate, the inflation rate, and a key interest rate.
How do you predict the economy will perform in the next two
years given the current state of two of the economic factors
you identified? How might your organization be affected by
these changes?

ECO/372 - Week 1 - DQ1 (3 Responses) |ECO/372 - Week 1 -
DQ 2 (3 Responses) | ECO/372 - Week 1 - DQ 3 (3 Responses) |
Week 1 - Complete |

ECO 372 Week 2

ECO/372 - Week 2 - Complete

DQ 1. Explain the viewpoints of classical and Keynesian
economists. How did the economy that existed at the time of
these theories influence them? Which theory is more
appropriate for the economy today? Why?
DQ 2. What is the economy's current stage in the business
cycle? Support your answer with an article written within the
last week from the popular press or blog. In light of the text
readings, evaluate the article and the source of the article.

Based on the information, determine where the economy fits in
the business cycle.
DQ 3. Recessions seem to show up every so often and create
economic hardship. One might think that macroeconomic
policymakers could tame the business cycle and implement
policies that would end recessions. Are recessions a necessary
fact of macroeconomic life? If not, what would it take to
eliminate them? If they are unavoidable, what types of business
can benefit from them? How would a recession affect your
firm?

ECO/372 - Week 2 - DQ 1 (3 Responses) | ECO/372 -
Week 2 - DQ 2 (3 Responses) | ECO/372 - Week 2 - DQ 3
(3 Responses) | ECO/372 - Week 2 - Fundamentals of
Macroeconomics Paper |ECO/372 - Week 2 - Economic
Forecasting Paper | ECO/372 - Week 2 - Complete |

ECO 372 Week 3

ECO/372 - Week 3 - Complete

DQ 1. What happens to the money supply, interest rates, and
the economy if the Federal Reserve is a net seller of
government bonds? What happens to the money supply,
interest rates, and the economy if the Federal Reserve is a net

buyer of government bonds? Why would the government
implement a stimulus program into the economy?
DQ 2. What new measures and tools has the Federal Reserve
employed in the past several years that have not been
employed in the past 2 decades? How do you evaluate the
change in the approach? Is this sustainable and appropriate in
the medium term?

ECO/372 - Week 3 - DQ 1 (3 Responses) |ECO/372 - Week 3 -
DQ 2 (3 Responses) | ECO/372 - Week 3 - DQ 3 (3 Responses) |
ECO/372 - Week 3 - Aggregate Demand and Supply Models |
ECO/372 - Week 3 - Learning Team Weekly Reflection |
ECO/372 - Week 3 - Complete |

ECO 372 Week 4
ECO/372 - Week 4 - Complete

DQ 1. What are the positive and negative aspects of budget
deficits and surpluses? What policy is best for today’s
economy? Explain your answer.
DQ 2. How does a government budget surplus affect the U.S.
economy? Identify two periods in recent history in which the

United States has run budget surpluses. What were the reasons
for the surpluses during those time periods?

ECO/372 - Week 4 - DQ 1 (3 Responses) | ECO/372 - Week 4 -
DQ 2 (3 Responses) | ECO/372 - Week 4 - DQ 3 (3 Responses) |
ECO/372 - Week 4 - Learning Team Reflection | ECO/372 -
Week 4 - Federal Reserve Presentation | ECO/372 - Week 4 -
Complete |

ECO 372 Week 5

ECO/372 - Week 5 - Complete

DQ 1. Explain how foreign exchange rates are
determined. How do changes in interest rates, inflation,
productivity, and income affect exchange rates? What
are the advantages and disadvantages of a weak versus a
strong dollar for imports, exports, international and
domestic markets?
Please use a current example of an exchange rate [Swiss
Franc-Euro, US Dollar - Japanese Yen, etc] and describe
how it affects the two [or more] countries involved.
DQ 2. As was seen during the financial crisis of the 1930s,
and in recent history, markets are interconnected

globally. Aside from financial markets, different countries
have different resources. Choose a country other than
your own, which has not already been selected by
another student, and research the EIU country data.
Based on absolute advantage and comparative
advantage, explain the effect of global economic
conditions on the choices available to that country. You
must include the current exchange rate of the country's
monetary unit.

DQ 3. Review the U.S. Trade Representatives website at
http://www.ustr.gov/trade-agreements/free-trade-
agreements. Select a country or trading bloc with which
the United States has a current or pending free trade
agreement. What are areas of comparative advantage of
the United States and its trading partner? What are the
benefits and disadvantages specific to this free trade
agreement?

ECO/372 - Week 5 - DQ 1 (3 Responses) | ECO/372 - Week 5 -
DQ 2 (3 Responses) | ECO/372 - Week 5 - DQ 3 (3 Responses) |
ECO/372 - Week 5 - International Trade and Finance Speech |
ECO/372 - Week 5 - Fiscal Policy Paper | ECO/372 - Week 5 -
Complete |

ECO 372 - Final Exam

1. News Story: Workers at a car-manufacturing plant
in Flint, Michigan are laid off because the economy is
weak and GM cars aren't selling well. GM isn't sure when
the plant will reopen. What type of unemployment
describes the workers' situation?

 Frictional unemployment
 Structural unemployment
 Full unemployment
 Cyclical unemployment

2. Globalization that allows governments to pursue
expansionary policies can be dangerous because it can
lead to:

 A reduction in the debt ceiling
 Goods price inflation
 Asset price inflation
 Goods price deflation

3. Macroeconomics is:

 The study of aggregate economic relationships.
 An analysis of economic reality that proceeds from

the parts to the whole.
 The study of pricing policies of firms and the

purchasing decisions of households.
 The study of individual choice and how that choice is

influenced by economic forces.

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