Describe how your changes in interest rates impacted inflation and other key macroeconomic indicators used in the simulation.
Overview
The Simulation Checkpoint Assignment in this course directly supports your success on the course project. You will play the simulation game, create the image file of your simulation report, and discuss learned concepts and experiences in your submission.
Prompt
For this assignment, you will play the first run of the Macroeconomics Simulation: Econland from Harvard Business Review, in which you will act as policy adviser for the fictional country of Econland. Select the “Base Case” scenario for this practice run. You may play the simulation as many times as you like. This will directly support your success in your course project, due in Module Eight.
In your submission, remember to include the image of your simulation report. For help with this, see How to Submit an Image File of Your Report. Then, reflect on the decisions you made in the simulation and address the following government intervention options in your submission:
Macroeconomic Indicators: During the simulation, you made decisions concerning government spending. Discuss the impact of your decisions on key macroeconomic indicators such as real GDP growth and unemployment. Refer to the graphs “Real GDP Growth” and “Unemployment Rate” from your simulation results to illustrate the impact.
Interest Rates: Describe how your changes in interest rates impacted inflation and other key macroeconomic indicators used in the simulation. Refer to the “Inflation Rate” graph from your simulation results.
Guidelines for Submission
Submit your assignment as a 1- to 2-page Word document. Use the Introduction section of the Final Project Template Word Document.
Module Three Simulation Checkpoint Assignment Rubric
Criteria Proficient (100%) Needs Improvement (55%) Not Evident (0%) Value
Simulation Image File The submission includes an image of the simulation report Initial post does not include image of the simulation report Does not make a submission 30
Macroeconomic Indicators Explains how their decisions impacted key macroeconomic indicators such as real GDP growth and unemployment, and refers to the graphs “Real GDP Growth” and “Unemployment Rate” to illustrate Shows progress toward proficiency, but with errors or omissions Does not attempt criterion 30
Interest Rates Explains how the changes in interest rates impact inflation and other key macroeconomic indicators, and refers to the “Inflation Rate” graph to illustrate Shows progress toward proficiency, but with errors or omissions Does not attempt criterion 30
Articulation of Response Clearly conveys meaning with correct grammar, sentence structure, and spelling, demonstrating an understanding of audience and purpose Shows progress toward proficiency, but with errors in grammar, sentence structure, and spelling, negatively impacting readability Submission has critical errors in grammar, sentence structure, and spelling, preventing understanding of ideas 5
Citations and Attributions Uses citations for ideas requiring attribution, with only minor errors Uses citations for ideas requiring attribution, with major errors Does not use citations for ideas requiring attribution 5
Total: 100%