Incorporating the Great Recession into Principles of Economics Courses part of Starting Point: Teaching and Learning Economics:Starting Point: Economics in Two-Year Colleges:Activities
After the great recession, there has been a heated debate between the Keynesian and Classical economists about how to combat the worst economic crisis since the great depression of 1930s. The purpose of this assignment is to make students understand the major differences between macroeconomic policies. In this assignment, students are asked to follow the blogs of two prominent economists with opposing macroeconomic views starting from the beginning of the semester. Students learn the Keynesian and Classical macroeconomic policies that can be implemented to achieve macroeconomic goals, which are economic growth, full employment, and price stability throughout the semester in the class. Students are asked to write a report on the current macroeconomic policy implemented by the government and evaluate the alternative policy that could be implemented to achieve macroeconomic goals. Students then advise the Congress in this report which macroeconomic policy could help the economy achieve higher economic growth rates and full employment . Lastly, students discuss their opinions in the classroom in a classroom debate.