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Module 6 - M odule 6 Topic and Objectives T he GDP Explain...

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Module 6: Topic and Objectives The GDP Explain how GDP is calculated and the difference between nominal and real GDP. Describe the four main components of GDP and why expenditures must always equal incomes in the macro economy. Explain how aggregate demand and aggregate supply determine equilibrium GDP. Module 6: Assignments Country Economic Analysis Report 1) Select a country of your choice and collect the following data for the most recent year available: a. GDP (you may use the purchase power parity figures). b. Per capita GDP. c. GDP growth rates for the past 5 years. d. Percentage of GDP spent on military expenditures. e. Population and Population growth rates for past 5 years. f. Human Development Index Rankings – overall and by category. 2) Based on your research, write a 1,500-word summary on what you have learned about this country's economy. How would you rate the overall economic well-being for your country? Provide your rationale. Contrast two or three key economic factors for your country with the U.S. economy, and comment. For example, if per capita GDP is significantly lower in your country than in the United States, what might this imply? 3) Prepare this assignment according to the APA guidelines found in the GCU APA Style Guide, located in the Student Success Center. An abstract is not required. 4) Submit the assignment to the instructor by the end of Module 7.
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Discussion Forum 1) The discussion forum requirements will be provided by the instructor. 2) Participate in class discussion as indicated. COURSE INFORMATION The first half of this course covers those aspects of economics that are particularly applicable to business decision making. Topics include demand and cost estimation, production decisions, pricing, analysis of competitive market structures, and antitrust. The second half of this course focuses on the world economy and the global environment within which business must operate. Topics include currency markets and exchange rates, balance of payments accounts, international monetary regimes, and international banking. CREDIT HOUR(S) 4 PREREQUISITES AND CO-REQUISITES None REQUIRED COURSE MATERIALS Boyes, W., & Melvin, M. (2007). Economics (7 th ed.). Boston, MA: Houghton-Mifflin Company. ISBN-13:9780618761258 Refer to individual modules for other specific required readings and resources. If you need help formatting assignments, go to the Writing Center in the Student Success Center, read the style guide, and use the templates for this course. TOPICS, OBJECTIVES AND ASSIGNMENTS Module 1: Topic and Objectives Introduction to Economics Differentiate between microeconomics and macroeconomics. Analyze the role that scarcity and rational self-interest plays in economics.
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Solve opportunity cost and production possibilities curve problems.
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