BA Program Ability #2 - An understanding of various micro- and macroeconomic principles and their influence on the organizational decision-making process.
The following assignment was given in my Principles of Microeconomics class following Obama's Health Care Reform Speech in 2009.
Paying for Health Care Reform
Read the excerpt from President Obama’s September 9, 2009 speech to a joint session of Congress on health care reform and write 2 essays answering the following question:
- Is the President’s claim that most of the $900 billion cost of the health care reform plan will be paid by reducing waste and inefficiency in the Medicare and Medicaid programs realistic? Explain your answer and back it up with evidence.
- Now argue the opposite point of view and also back up this position with evidence.
Specific instructions: Each essay should not exceed 2 pages of double-spaced text typed using minimum 10 point font and 1 inch margins on all sides. However, the 2 page limit does not apply to data tables you provide. With data tables each of your papers should not exceed 5 pages – 2 pages of text and at most 3 pages of data.
Your paper will be assessed on your mastery of the general education ability listed below. It will also be graded on a letter grade scale and will count as one quiz in calculating your grade in this course.
My graded submission is below.
In Principles of Macroeconomics we were given an Economic Data Emersion assignment which required gathering data from several sources in multiple steps and answering various questions pertaining to the information found. Click the documents below for my answers.
Step 1: GDP
1. Which of these two terms would represent the budget deficit or surplus?
Why did I choose this as evidence of my understanding of various micro- and macroeconomic principles and their influence on the organizational decision-making process?
These assignments used research that provided insight in how changes outside of an organization can impact how decisions are made. Looking at unemployment rates and other figures in relation to those statistics an organization can determine the shape of the economy. Knowing how your business runs during certain times can make a pattern and fallback plan for the future. In 2009 while taking this class unemployment was slowly rising which could show a change for the better in the American economy. Observing GDP can show the changes in the value of money and determine the amount of inflation in comparison to the past. Much like history, economics can show results of decisions made and the change that perspective can make on future events. Which idea is more suitable to analyze our economy, Keynesian or the more 'developed' thoughts of Friedman.
More relative to small groups is the Health Care Reform that seems to make a tough time of being realistic. Politically speaking, the best answer is not often good enough, but it was worth the attempt to fight the positive side and consider options for how money could be spent in the reform. Economics may be the frequent test of 'it's better to try and fail, then to never make an effort'.