Fill in parts 1 -7 in the provided text box. Make sure each part is labels 1, 2, 3, …
1. Title of the article / news clip / video / blog post/ podcast
referred to as “story” from here on
2. Date of story
remember it has to be something from after the start of this term
3. Source of story
state the name of the publisher and author if known and give the full url
4. 1 paragraph summary of the story
5. Core economic Principle(s) or concept (s) that relate to this story
this just needs to be a list
6. Your commentary on the story utilizing the principles or concepts you identified in part 5 and any other economic material you deem relevant.
In this part please bold and underline any economic terms from the class as you write.
There is no length requirement for this part but if it’s too short it won’t get the full 10 points. As a guide, aim for something around a full page worth of good content.
7. Follow up question in response to the story
one sentence is fine for this, but a little more is also ok if you need to give some more context
While parts 1 -7 above are all required, it is parts 5 – 7 that really determine the points you earn, as that’s where you are demonstrating your knowledge of macroeconomics.
Part 5 doesn’t have to be a list of every economic term you plan on using, just the “core” principles and concepts. There might be a couple or maybe just one. But your grade will depend on how well you identify what content from class is relevant to your story.
Part 6 is where you really need to demonstrate the knowledge you have gained from this class; use the new terms you have been introduced to, refer to the new models you learned, reference specifics from textbook or video lectures… And it’s very important that part 6 is not just another summary of the original content, like part 4 was. This should be your commentary, your reaction to the information presented in the story, based on the new knowledge you gained in class.
Having a hard time figuring out what your commentary should be? Here are some reflection questions that could help you out.
If the story is expressing an opinion, interpretation, or prediction, do you agree with it given what you now know about macroeconomics?
o If you agree, explain why you think the opinion/interpretation/prediction follows economic logic
o if you disagree, explain why you think the opinion/interpretation/prediction doesn’t follow economic logic
If the story is reporting facts, what conclusion do you draw from those facts given what you now know about macroeconomics?
If the story is reporting facts, were there any other facts or pieces of information you think needed to be included in the article, given what you now know about macroeconomics?
Now that you know the economic way of thinking do you view the same situation being discussed from a different perspective than that of the author? If so explain this different economic perspective.
Are there any assumptions being taken by the author that are inconsistent with economic way of thinking you now know?
o If different assumptions are taken what does economic logic say the outcome will be?
In part 6 remember to make your use of course content glaringly obvious, bold and underline and vocabulary, names, or terms from class. For example you could say “this is a good example of Adam Smith’s invisible hand theory and goes to show that with the right institutions the self interest can match the social interest.” There is not a required maximum or minimum name of terms to use, but if you look back at this section and you only have 1 or two terms bold/underlined, it probably won’t get too many points.
For Part 7 just think about what other information you’d want to know after seeing what the story presented. It can be about a specific point or claim in the story or something more tangential, just make sure it related to macroeconomics. A good question will show off your knowledge of how different economic concepts are connected, as well as show off your understanding of the scope of macroeconomics and what the discipline seeks to study.
