MACROECONOMIC MODELS

MACROECONOMIC MODELS

Instructions

MACROECONOMIC MODELS

Economics experts and decision-makers utilize macroeconomic models as analytical tools to comprehend and forecast the behavior of entire economies. In order to shed light on important factors like growth, job creation, inflation, and more, these models simplified the intricate interactions that take place within an economy.

Macroeconomic models come in a variety of forms, each with a particular approach and set of presumptions. The aggregate consumption-aggregate supply model, for example, is a popular form that emphasizes the interaction between all demand for products or services and the entire supply. It aids in illuminating how variations in elements such as consumer spending, expenditures, government expenditure, and exports impact overall economic activity.

The Keynesian model, whose is based on the premises of John Maynard Keynes, is another popular model. It focuses on how aggregate demand affects economic fluctuations and makes the case that government interventions, including fiscal policies (taxes and expenditures), can help to keep the economy stable during recessions or periods of inflation.

Incorporating elements like salaries that are sticky and prices as can cause short-term market defects allow new Keynesian models to build on this base and impact economic dynamics.

Models of dynamic stochastic general balance (DSGE) combine macroeconomic and microeconomic ideas. They place a strong emphasis on the part that individual choices play, taking into account things like institutional arrangements, preferences, and technological shocks. Particularly for policy assessment and forecasting, these models are employed.

In order to investigate emerging macroeconomic phenomena, agent-based models simulate relationships among different actors. These models shed light on how the actions and interactions of varied agents result in collective consequences.

Macroeconomic models, for general, assist decision-makers and economists in exploring various economic scenarios, evaluating potential policy consequences, and reaching well-informed conclusions. nevertheless because of the assumptions they make and simplifications, those models possess limitations, and the accuracy of what they predict depends on the level of information input and the suitability underlying the underlying hypotheses.

MACROECONOMIC MODELS

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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