Ten Principles of Economics and the Data of Macroeconomics

Purpose of Assignment The purpose of this is assignment is for students to review the basic principles of economics and the concepts of the circular flow model, showing the connectivity of society’s economic players and the flow of goods and money within an economy. Students will learn how society allocates its scarce resources and how economists are both scientists and policymakers. Students will define GDP and CPI and how they are calculated. Assignment Steps Resources: National Bureau of Economic Research; Principles of Macroeconomics: Ch. 1, 2, 3, 4, 5, 6, and 7 Scenario: Your organization’s CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing a report to introduce some of these thoughts and principles. Develop a 1,050-word report to the members of the strategic planning committee explaining the following information:How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.Using the circular flow model, explain the flow of money and goods in an economy.How the economy coordinates society’s independent economic actors.A country’s gross domestic product (GDP) and how it is defined and calculated.How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living. Format the assignment consistent with APA guidelines.
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Ten Principles of Economics and the Data
of Macroeconomics Grading Guide
ECO/372 Version 10
Principles of Macroeconomics
Copyright
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Ten Principles of Economics and
the Data of Macroeconomics
Grading Guide
ECO/372 Version 10
Individual Assignment: Ten Principles of Economics and the Data of Macroeconomics
Purpose of Assignment
The purpose of this is assignment is for students to review the basic principles of economics and the concepts of
the circular flow model, showing the connectivity of society?s economic players and the flow of goods and money
within an economy. Students will learn how society allocates its scarce resources and how economists are both
scientists and policymakers. Students will define GDP and CPI and how they are calculated.
Resources Required
National Bureau of Economic Research
Grading Guide
Content
Met
Partially
Met
Not Met
Total
Available
Total
Earned
9
#/9
Partially
Met
Not Met
Comments:
Student explains how economists are both
scientists and policymakers and what
principles society uses to allocate it scarce
resources.
Student explains the flow of money and
goods in an economy using the circular flow
model.
Student explains how market forces of supply
and demand coordinate societies
independent their economic actors.
Student explains how a country?s gross
domestic product (GDP) is defined and
calculated.
Student explains how the consumer price
index (CPI) is constructed and why it is an
imperfect measurement of the cost of living.
The report is 1,050-words in length.
Writing Guidelines
The paper?including tables and graphs,
headings, title page, and reference page?is
consistent with APA formatting guidelines and
meets course-level requirements.
Met
Comments:
2
Ten Principles of Economics and
the Data of Macroeconomics
Grading Guide
ECO/372 Version 10
Writing Guidelines
Met
Partially
Met
Not Met
Total
Available
Total
Earned
3
#/3
12
#/12
Intellectual property is recognized with in-text
citations and a reference page.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Paragraph and sentence transitions are
present, logical, and maintain the flow
throughout the paper.
Rules of grammar and usage are followed
including spelling and punctuation.
Assignment Total
Additional comments:
#
Comments:
3

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