Prof. James Kelvin - Ten Principles of Economics and the Data of Macroeconomics

Ten Principles of Economics and the Data of Macroeconomics Grading Guide

ECO/372 Version 10

Prof. James Kelvin - Ten Principles of Economics and the Data of Macroeconomics 1

Ten Principles of Economics and the Data of Macroeconomics Grading Guide

ECO/372 Version 10

Principles of Macroeconomics

Copyright

University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries.

Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation.

Edited in accordance with University of Phoenix® editorial standards and practices.

Individual Assignment: Ten Principles of Economics and the Data of Macroeconomics Purpose of Assignment

The purpose of this is assignment is for students to review the basic principles of economics and the concepts of the circular flow model, showing the connectivity of society’s economic players and the flow of goods and money within an economy. Students will learn how society allocates its scarce resources and how economists are both scientists and policymakers. Students will define GDP and CPI and how they are calculated.

Resources Required

National Bureau of Economic Research

Grading Guide

Content	Met	Partially Met	Not Met	Comments:
Student explains how economists are both scientists and policymakers and what principles society uses to allocate it scarce resources.
Student explains the flow of money and goods in an economy using the circular flow model.
Student explains how market forces of supply and demand coordinate societies independent their economic actors.
Student explains how a country’s gross domestic product (GDP) is defined and calculated.
Student explains how the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.
The report is 1,050-words in length.
		Total Available	Total Earned
			#/9

Writing Guidelines	Met	Partially Met	Not Met	Comments:
The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a reference page.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Rules of grammar and usage are followed including spelling and punctuation.
		Total Available	Total Earned
			#/3

Assignment Total	#	12	#/12
Additional comments: