Government Spending and Social Security Case Study

Government Spending and Social Security Case Study

Instructions:

Government Spending and Social Security Case Study

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AU Government Spending and Social Security Case Study

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Cases: Applying Economics to the Real World

[WLO: 4] [CLOs: 1, 2, 3, 5]

Watch this video with Steve Forbes, Chairman   and Editor of Forbes Media.

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Select two of the three cases presented below and prepare a three-page written analysis of each case (six pages total). These case studies provide real-world application to concepts you have studied during this course.

For this assignment, you are required to upload your work to your ePortfolio in addition to Waypoint. Learn more about Folio the ePortfolio tool by viewing the Folio Quick Start Guide (Links to an external site.).

Submit your file to Waypoint using the button below. Then paste the link to your Folio page as a comment in Waypoint so your instructor can access your ePortfolio.

Case 1: Government Spending and Taxation

Read Special Topic 1, pages 404 through 418 of Macroeconomics: Private and Public Choice. You may also want to review Chapters 5 and 6 as the role of the government and the political process were covered in detail.

Using the Government Spending and Taxation case, Chapters 5 and 6, the knowledge you have gained in this course, as well as at least three additional credible resources, analyze the case by addressing the following:

Describe how government spending and the composition of the government changed in recent decades. In other words, in what areas has the government cut spending and in what areas has the government increased spending in recent decades?

Determine if this change in government spending and composition will help Americans achieve a higher living standard. Be sure to support all opinions with research.

Assess if democracy can survive if the majority of the U.S. citizens pay little or nothing in taxes while benefiting directly from a higher level of government spending. Why or why not?

Propose the composition of government, government spending, and taxation that you believe would work best. Be sure to be specific and support your proposal with research.

Case 2: The Economics of Social Security

Read the Special Topic 2, pages 419 through 428 of Macroeconomics: Private and Public Choice.

Using the Economics of Social Security case, the knowledge you have gained in this course, as well as at least three additional credible resources, analyze the case by addressing the following:

Explain how the Social Security system’s basic principles are different from private insurance.

Determine how Social Security affects the economic well-being of blacks, relative to whites and Hispanics.

Assess if the current Social Security system promotes income equality. Why or why not?

Propose how the Social Security system could be modernized to ensure long-term solvency and fairness in distribution. Be specific and support your proposal with research.

Case 3: Keynes and Hayek: Contrasting Views on Sound Economics and the Role of Government (Case 4 in the text)

Read the Special Topic 2, pages 439 through 444. You may also want to review Chapters 11 and 12 of Macroeconomics: Private and Public Choice as the role of government and different views of government intervention were discussed.

Using the Keynes and Hayek: Contrasting Views on Sound Economics and the Role of Government case, Chapters 11 and 12, the knowledge you have gained in this course, as well as at least three additional credible resources, analyze the case by addressing the following:

Describe briefly how Keynes’s and Hayek’s economic theory and views differ.

Contrast the two views on how savings may be harmful or beneficial to the economy.

Compare the two views on whether the economy would fluctuate more or less over the business cycle without government intervention. Be sure to address both the inherent stability of the market economy as well as the impact of government interventions to steer the economy.

Hypothesize on which economist theory, Keynes or Hayek, you believe is more accurate and why. Be specific and support your hypothesis with research.

Your Cases: Applying Economics to the Real World final project

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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