1. Go to www.marketplace.org, The Economist, or the Financial Times and find an article which talks about a change to the economic situation of a country (any country). Write a paragraph summarizing the article and include the link. Neither the article nor the specific topic may have been used before, so reserve it on the discussion board before you start working on it (include the link and the topic in your reserve post). For example if a major hurricane hit a small country, then only one student may analyze that topic.
2. Draw an AD/AS curve and show how it will shift with the change in the situation. You only need to draw the SRAS, don’t worry about the LRAS. It needs to be hand-drawn on graph or blank paper, using a straightedge and with very neat writing! Label all lines and axes fully and clearly, including equilibrium points.
3. Explain clearly why you made the shift you made.
4. Don’t forget your peer review!
As an example, pretend you found an article about a discovery of gold in Country X that increased its exports by 30%. You would draw the graph with AD shifting right due to the increase in exports. Optionally you could also shift SRAS right due to the increase in export and mining firms.
As another example pretend in Country Y stock market prices increased dramatically. This is considered wealth, and so AD would shift to the right. SRAS would not shift.
When you do this analysis, just stick to the first thing that will happen. In the real-world, as you know and as time goes on, everything affects everything else (AS affecting AD affecting AS and so on…)
18-20- Submission and peer review show excellent, thoughtful and complete work. There are no mistakes in the analysis either for the submission or the response, the graph is neatly and correctly drawn using graph paper (if hand-drawn), and fully labeled. Reasons given for the shift are clear and correct. Submission contains high-quality college-level writing that has been carefully edited and proofreaded and contains no errors. Contains only positive economic statements; in normative statements.
16-17- Submission and peer review show good effort, and analysis on both are correct. Graph is relatively neatly done, Reasons given for shifts are correct. Writing is quality college-level work; may contain one to two errors. Contains only positive economic statements; in normative statements.
14-15 – Submission and peer review shows average effort with analysis and explanation of curve shifts mostly correct – may contain some minor errors. Graph is clear enough to interpret and most labels are included. There may be minor grammar spelling and punctuation, or minor normative comments.
12-13- Poor effort, graphic not clear, missing labels, or extremely messy; or analysis contains numerous errors, or writing contains numerous errors, or assignment contains obviously normative comments, or peer review not or not substantive.
0-11- Incomplete or very poor effort; not suitable for use with AD / AS curve, or graphic not included or grossly incorrect, or no explanation or curve shifts, or writing is poor, not at college-level, with little or no evidence of editing and proofreading, or contains overtly normative statements, or peer review not included or not
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