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ECONOMIC CONDITIONS OF UK AND USA: A DETAILED REPORT
Assignment 1- Week 1 For this report: a) Read the NY Times article (attached or this link: http://www.nytimes.com/2012/01/01/business/from-6-economists-6-ways-to-face-2012-economic-view.html). b) Write a report (clearly typed in a MS-Word file using MS-Word). Your report should be broken into two sections: Section 1: Summary of the article (first paragraph): Tell me what the article is about and what major points the author is making, and his/her conclusions in a paragraph (5-6 sentences long at the most). Do not copy/paste excerpts from the article. Summary should be in your own words and should be based on your understanding of the issue covered in the article. Section 2: Your thoughts on the article (at the most two paragraphs long): Critically evaluate author's find
Section 1: According to (N. Gregory Mankiw, Christina D. Romer; Tyler Cowen; Robert H. Frank; Robert J. Shiller And Richard H. Thaler, 2011), this paper speaks about the various factors that affect the economy of USA and the European Union during the year 2010-11, post the Great Recession of 2008. The six authors have spoken about six different aspects of Business and finance that affects the British and the Europe, and its citizens, whether they are middle class or the upper class. The author in the first article states the various solutions, which can be undertaken by the Federal Bank of USA in tackling the economic crisis plaguing the US economy. Some of the solutions are reducing long-term interest rates, inflation rates, and vouching for a nominal GDP. The second article states about the problems like budget deficit, persistent high unemployment, rising health care expenses, debt crisis, etc, which are the reason for the weaker US economy. In the third article, the author speaks about issues affecting European economy owing to loans from Central banks where loans are due, but it can also help in removal of the debts faced under weakened economic duration. The fourth article speaks about the income disparities amongst the upper and middle class in USA, and the fact that people are struggling to control their household expenses even with double income recipients.
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