Retrieve the GDP-deflator and the annual unemployment series for the period 1959 to 2000. These data are available in the Statistical Appendix of the Economic Report of the President. Use the GDP-deflator series to compute the annual rate of inflation, us

ctw_writing_assignment_3_1 econ_3900_ctw_grading_rubric_2

Retrieve the GDP-deflator and the annual unemployment series for the period 1959 to 2000. These data are available in the Statistical Appendix of the Economic Report of the President. Use the GDP-deflator series to compute the annual rate of inflation, using the following formula {?t = [(GDP-deflatort – GDP-deflatort-1)/GDP-deflatort-1]×100}, where ?t is the rate of inflation in year t (= 1960, …, 2000). Graph these two series for the periods 1960 to 1970, 1970-1980, 1980-1990, and 1990-2000 in four separate scatter plots, with the rate of inflation on the vertical axis and the rate of unemployment on the horizontal axis. Read chapter 13 of your textbook, and in the light of that discussion address the following question: Is there evidence in your graphs of a short-run trade-off between inflation and unemployment in each of these periods? Is this surprising?

CTW Writing Assignment 3

Macroeconomics (CTW)

Summer 2012

This writing assignment is due on the last day of class (Monday, July 25th).

Retrieve the GDP-deflator and the annual unemployment series for the period 1959 to 2000. These data are available in the Statistical Appendix of the Economic Report of the President. Use the GDP-deflator series to compute the annual rate of inflation, using the following formula {πt = [(GDP-deflatort – GDP-deflatort-1)/GDP-deflatort-1]×100}, where πt is the rate of inflation in year t (= 1960, …, 2000). Graph these two series for the periods 1960 to 1970, 1970-1980, 1980-1990, and 1990-2000 in four separate scatter plots, with the rate of inflation on the vertical axis and the rate of unemployment on the horizontal axis. Read chapter 13 of your textbook, and in the light of that discussion address the following question: Is there evidence in your graphs of a short-run trade-off between inflation and unemployment in each of these periods? Is this suprising?

Guidelines for the policy brief

The policy brief should be typed, using 1.5 spacing, Times New Roman 12 point font. All sources must be clearly documented with both an in-text citation and a bibliographic reference. The report should not exceed 3 pages, excluding tables and figures at the end of the brief. All tables and figures should appear at the end of the brief, and the source of all data used to construct the figures should be provided directly beneath the figure. Please provide pages numbers no each page.

A. Title

A1. Provide an appropriate title that is relevant to the assignment and ensure clarity so as to convey the main purpose of the policy brief.

A2. Use capitalization rules in the title.

A3. Please include the author’s name, title of the policy brief, and date of the report on a cover page to the policy brief.

B. Analysis (Descriptive paragraph)

B1. Use formal writing style and not colloquial language.

B2. Provide an introductory paragraph and a concluding paragraph to your brief. The introductory paragraph should motivate the report and summarize the major findings of the report.

B3. In addition to explaining the advantages and disadvantages of another round of fiscal stimulus to avert a double dip recession, the report should make a clear and well defended recommendation regarding another stimulus bill. You may want to weigh whether any stimulus should be in the form of increased expenditures and/or a tax cut.

B4. The policy report should make specific references to the figures provided in the report.

B5. Figures should be numbered (Figure 1, Figure 2, …) and should appear on separate pages at the end of the policy brief.

GRADING RUBRIC FOR CTW ASSIGNMENTS

ECON 3900 Intermediate Macroeconomics

Each section is worth a total of 5 points or 25% of the total grade.

Points543210

Grading Scale

ExcellentGoodAverageFairPoorNo Points

Criteria

Follows all formatting

instructions and correctly

uses basic APA in-text and

work cited

style

citations

Follows most formatting

instructions and/or most

APA in-text and work cited

style citations

Follows some formatting

instructions and/or some

APA in-text and work cited
style citations

Used some formatting

and/or citation but not the

required APA style

Major formatting issues

and/or incomplete work

cited page or in-text

citations

No consistent formatting

and/or citation method

Points543210
Grading Scale
ExcellentGoodAverageFairPoorNo Points
Criteria

Obtained the correct

datasets and

calculations

and provided a well-

substantiated discussion

about the

results

Obtained the correct

datasets and provided a

well-substantiated

dicussion

about the results

but some issues with the

calculations
Obtained the correct

datasets but some issues

with the calculations

and/or a modest

discusssion about the

results

Did not obtain the correct

datasets and/or some

issues with the calculations

and/or provided a modest

dicussion about the results

Did not obtain the correct

datasets and/or issues with

the

calculations and/or

provided a weak dicussion

about the results
Did not obtain the correct

datasets and/or did not

perform the correct

calculations and/or

provided little or no

dicussion about the results
Points543210
Grading Scale
ExcellentGoodAverageFairPoorNo Points
Criteria

Accurately and clearly

interprets results while

thinking critically and

incorporating a firm

understanding of concepts

and real world

appliction

Some inaccuracies in

interpretation but thinking

critically and incorporating

a firm understanding of

concepts and real world

appliction
Some inaccuracies in

interpretation and/or some

lack of critical thinking

and/or some understanding

of concepts and real world

appliction

A lot of inaccuracies in

interpretation, little or no

critical thinking,

understanding of concepts,

and/or real world appliction

A lot of inaccuracies in

interpretation, no critical

thinking, understanding of

concepts, and/or real world

appliction

Completely incorrect

interpretation, no critical

thinking and/or

understanding of concepts

or real world application

Points543210
Grading Scale
ExcellentGoodAverageFairPoorNo Points
Criteria

Paper has a clear

introduction, body,

conclusion, and work cited

page; clear and effective

communication and

organization; minimal

grammar

and syntax errors;

appropriate style including

the table

Paper has a logical

structure and work cited

page; good communication

and organization; minimal

grammar and syntax errors;

appropriate style including
the table

Paper has little structure

but includes a work cited

page; communication and

organization need to be

improved; several grammar

and syntax errors;
appropriate style including
the table

Paper has no clear

structure but includes a

work cited page;

communication and
organization need to be
improved; several grammar
and syntax errors;
appropriate style including
the table
Paper has no clear

structure and no work cited

page; poor communication

and organization; several

grammar and syntax errors;

inappropriate style

including the table

Paper is not clear with little

or no organization or

structure and/or many

grammar and syntax errors

and/or lack of style

including the table

ANALYSIS

STYLE

COMMUNICATION & STRUCTURAL ORGANIZATION

APPLICATION & CRITICAL JUDGEMENT