Activity 2.2
Microeconomics and Macroeconomics

Upon completing Activity 2.2, you should be able to:
  • Describe the difference between the study of Microeconomics and Macroeconomics.
  • Accurately identify and evaluate economic news stories as being Micro or Macro in nature.

 


30-year loans are the cheapest they've been since weekly surveys began.

 

 


Sports apparel maker plans to eliminate 300 jobs in Asia-Pacific.


The study of economics, just like history, math and science, is often divided into sub-subjects. In economics these divisions are known as Microeconomics and Macroeconomics. While our course is a general economics course, it is important to understand the difference between these two as we will look at aspects of each throughout our course.

To learn more about these terms click below...

Activity 2.2 Requirements

Part I

Provide definitions for the following Macroeconomics related terms:

  1. Gross Domestic Product
  2. Inflation
  3. Consumer Price Index
  4. Unemployment Rate

Part II

Using news websites found on the Internet, or by hard copies of magazines and newspapers, find two news articles that relate to Microeconomics related issues and two news articles that relate to Macroeconomics issues. For each news article that you find, provide the following:

  • Give the exact wording of the headline.
  • Provide a brief written summary (3-4 sentences) about the article.
  • Explain in your own words why you feel this article is either Micro or Macro in nature.
  • Provide a properly written citation of where you retrieved the news article.

You are welcome to submit a hard copy of the news article, but this is not a requirement, especially if you pull the news article from an Internet news website. All 4 headlines and summaries that you submit must include a properly written citation that identifies where you retrieved the article.

What should your economics news summary look like?

View an example of a properly done news summary.

RESOURCES that can help you complete this activity are listed in the table below.

This site will provide you access to news resources from around the nation and the world. A great link to online newspapers and business papers.
CNNfn is the business section of the CNN website.
This is an excellent resource for keeping up with the latest news events related to economics and business.
The biggest and best (and least that is their claim) financial glossary available on the Internet. Trying to find the meaning of an economic term or concept? -- try this website.
For the latest national economic statistics and definitions check out this website.

How do I cite my resources?
Click below to learn how:
http://webster.commnet.edu/mla.htm
Being able to properly cite the resources that you use is not only a requirement for this assignment, but is needed in nearly every other course that you take that requires some writing.

This link will show you how to properly cite a variety of resources, including on-line resources.


Grading Rubric for this assignment:

This assignment will be worth a total of 100 points.

  • 20 points for providing the proper definition of the vocabulary terms.
  • 20 (5 points per article) for summarizing the article.
  • 20 (5 points per article) for your explanation as to which type of economics the article deals with.
  • 20 (5 points per article) for including a properly written citation.
  • 20 (5 points per article) for using proper spelling and grammar.


Don't forget to keep copies of your work.


keyboard

Activity 2.2 Microeconomics and Macroeconomics
100 Points

Go to the Assignment Area to submit this assignment.

1. Read the above Requirements.

2. Review the above Grading Rubric.

3. Submit this activity. You may type your text directly into the assignment or create your essay in a separate program such as Microsoft Word and then attach it.


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