Your Perfect Assignment is Just a Click Away

We Write Custom Academic Papers

100% Original, Plagiarism Free, Customized to your instructions!


Tiffin University Macro Economic Discussion Questions

Tiffin University Macro Economic Discussion Questions

Tiffin University Macro Economic Discussion Questions


Activity 6.2: Essay: Energy Prices and the Macroeconomy


In this week’s paper, you will discuss a particular event described in the Activity Instructions. You will analyze the effects on the macroeconomy using the ideas from Chapter 15 and examine how your business would react to the situation.

Activity Instructions

Suppose that the price of energy increases in the United States. This could arise because the domestic production of energy could increase in cost, the supply of domestic energy production could decrease, or the price of oil could increase (as of the writing of this question, January 2021, the price per barrel of oil is about half of its level for the several years ending in 2015–

Part 1

Analyze this event to determine what will happen in the short-run and long-run macroeconomy, using the model from Chapter 15. Do not worry about the exact cause of the increase in price of energy or whether some forms of energy increase in price by a higher percentage than other forms. Rather, just assume that all sources of energy have increased in cost by the same percentage. What will happen to the level of prices? To the output of the economy? To unemployment?

Part 2

How would your firm’s decisions change based on what you’ve learned in Chapter 15 (and from previous chapters, where applicable)? Would they expand or contract their workforce? Would they expand their capital? Are there other changes your firm might make because of the increase in energy prices? Make sure that you explain why the firm may make those changes, and consider both the short-run and long-run effects on the economy.

Writing and Submission Requirements

1.5-2 pages (approx. 300 words per page), not including title page or references page
For standard requirements, review the Discussion and Written Assignment Expectations.

Tips for Success

Be sure to refer to the Essay Tips for Success as you draft your essay. Then, as in the discussion, make sure to discuss the model, what happens to the model, and how the economic variables change–that’s Part 1. Then, once you know what happens to those economic variables you can discuss the firm’s response. As alluded to in the prompt, you can think about what you have learned and discussed in previous weeks to help answer Part 2.

Weekly Learning Goal(s): 1, 2, 3

Find the long-run and short-run equilibrium on an AD/AS graph. (CLO 2)
Understand how events shift the AD, LRAS, and SRAS curves and how those events affect the short-run economy. (CLO 2, 4, 5)
Explain how changes in the macroeconomy can affect businesses. (CLO 4, 5)

Order Solution Now

Our Service Charter

1. Professional & Expert Writers: Top Grade Essays only hires the best. Our writers are specially selected and recruited, after which they undergo further training to perfect their skills for specialization purposes. Moreover, our writers are holders of masters and Ph.D. degrees. They have impressive academic records, besides being native English speakers.

2. Top Quality Papers: Our customers are always guaranteed of papers that exceed their expectations. All our writers have +5 years of experience. This implies that all papers are written by individuals who are experts in their fields. In addition, the quality team reviews all the papers before sending them to the customers.

3. Plagiarism-Free Papers: All papers provided by Top Grade Essays are written from scratch. Appropriate referencing and citation of key information are followed. Plagiarism checkers are used by the Quality assurance team and our editors just to double-check that there are no instances of plagiarism.

4. Timely Delivery: Time wasted is equivalent to a failed dedication and commitment. Top Grade Essays is known for timely delivery of any pending customer orders. Customers are well informed of the progress of their papers to ensure they keep track of what the writer is providing before the final draft is sent for grading.

5. Affordable Prices: Our prices are fairly structured to fit in all groups. Any customer willing to place their assignments with us can do so at very affordable prices. In addition, our customers enjoy regular discounts and bonuses.

6. 24/7 Customer Support: At Top Grade Essays, we have put in place a team of experts who answer to all customer inquiries promptly. The best part is the ever-availability of the team. Customers can make inquiries anytime.