Principles of Macroeconomics

Classical and Keynesian Debate

[WLOs: 2, 3, 4] [CLOs: 2, 4, 6]

The Week 4 assignment is a group project. Only one student from each group (of the classical school and the Keynesian school) will submit the group assignment (groups are maintained from the Week 3 Classical Economics Versus Keynesian Economics discussion). From 2007 to 2010, the Federal Reserve used many practices unfamiliar to the U.S. central bank. Respond to the following components as an economist representing either the classical or Keynesian school:

• Evaluate critically, as a classical or Keynesian economist, what caused the 2007 to 2009 financial crisis.


• Examine the causes that aggravated the financial crisis during the period?


• Evaluate the actions that the Federal Reserve and the government took during this period. Do you support their actions in both monetary policy and fiscal policy? Why or why not?


• Recommend an alternative policy or method that could have better resolved the financial crisis if you were a decision maker (of monetary policy or fiscal policy) during the period.


• Give advice, as a prominent classical or Keynesian economist, to the Federal Reserve and/or federal policy makers to prevent future economic or financial crises.

The Classical and Keynesian Debate paper

• Must be five to six double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center APA Style resource (Links to an external site.).


• Must include a separate title page with the following:
  
  
  
  • Title of paper
  
  
  • Student’s name
  
  
  • Course name and number
  
  
  • Instructor’s name
  
  
  • Date submitted
  
  
  
  


• For further assistance with the formatting and the title page, refer to APA Formatting for Word 2013 (Links to an external site.).


• Must utilize academic voice. See the Academic Voice (Links to an external site.) resource for additional guidance.


• Must include an introduction and conclusion paragraph. Your introduction paragraph needs to end with a clear thesis statement that indicates the purpose of your paper.
  
  
  
  • For assistance on writing Introductions & Conclusions (Links to an external site.) as well as Writing a Thesis Statement (Links to an external site.), refer to the Ashford Writing Center resources.
  
  
  
  


• Must use at least five scholarly, peer-reviewed, and/or other credible sources in addition to the course text.
  
  
  
  • The Scholarly, Peer-Reviewed, and Other Credible Sources (Links to an external site.) table offers additional guidance on appropriate source types. If you have questions about whether a specific source is appropriate for this assignment, please contact your instructor. Your instructor has the final say about the appropriateness of a specific source for a particular assignment.
  
  
  
  


• Must document any information used from sources in APA style as outlined in the Ashford Writing Center’s Citing Within Your Paper guide. (Links to an external site.)


• Must include a separate references page that is formatted according to APA style as outlined in the Ashford Writing Center. See the Formatting Your References List (Links to an external site.) resource in the Ashford Writing Center for specifications.