Keynesian economics will take most of our focus this week as we learn more about the tools of fiscal policy. We'll also look at how fiscal policy affects the aggregate model and what impacts it has on government budgets.
- Participate in an introductory discussion about Greek's debt crisis (3 points) (due by Tuesday, March 22)
- Respond to two classmates' posts on the Greek debt crisis (3 points) (due by Thursday, March 24)
- View/Read instructional material outlining fiscal policy and government budgets.
- Score 100% on the comprehension quiz (you can take this as many times as you like!) (5 points) (by Thursday, March 24)
- Complete a graded assignment-- Government Budget Activity (20 points) (by Sunday, March 27)
At the end of the week you should:
- Acknowledge the difference between recessionary and inflationary gaps
- Understand the use of expansionary and contractionary fiscal policy
- Explain the difference between government surplus, deficit and debt
- Identify the limitations of fiscal policy