Write a 1 to 1.5 page (500-750 words) essay on the study of macroeconomics. In your paper, discuss economic theory versus reality, using normative and positive statements as an example of these.
Use your textbook and at least one other reliable source to find information. The online library and Google Scholar are both good options.
Structure your paper as follows:
- Intro paragraph (5 points) – provide overview of the information you will cover, including the following.
a. State your thesis (main idea) regarding the reason why it is important for someone in your field to have a basic understanding of macroeconomics.
b. Identify the three main points (listed below for body paragraphs) you will cover
- Body paragraphs (15 points) – detailed description of each of the following as they relate to your thesis.
a. Study of economics:
• Based on what you have read in this class so far, how would you describe the study of economics to a friend who asked you about it?
• Why is it important for someone in your field to know about economics, even if it is on a fairly basic level?
b. Positive and normative statements
• Give one example each of a positive and a normative economic statement about the current economic situation.
• Describe the difference in the two statements and explain why it is important to understand the difference between normative and positive statements
c. Economic reality versus theory
• Describe the relationship between economic reality and economic theory.
• Relate your response to your discussion of normative and positive statements, including information about scarcity and what the term marginal means within the context of economics.
- Summary (3 points)
a. Restate your thesis and provide a conclusion about your main points.
- References page (3 points)
a. Provide a list of references; must include author, title, publication title, publication year, and source or retrieval information.
Purchase Nothing Year GuidesorSubmit my paper for examination purchase nothing for a yearToday, it appearsA to be practically outlandish that an individual can live in a major city without buyZing anything. City inhabitants are continually encompassed with numerous potential sorts of merchandise, administrations, and diversion. Without acknowledging it, individuals will in general waste critical measures of cash on practically useless buys, similar to drinks at a bar, or film tickets, or shopping. In any case, two individuals from Calgary, Canada, oversaw not exclusively to acknowledge it, yet additionally broke liberated from the hover of endless utilization. Their examination endured a year, and was known as the Buy Nothing Year. Geoffrey Szuszkiewicz and Julie Phillips, a bookkeeper and a correspondence consultant, began to figure their benefits and consumptions; sooner or later, they understood they were spending a great deal of cash on articles and administrations they didn't require. For example, Geoffrey would spend about $150 month to month (Julie would burn through $250) on a hair style in a salon, and Julie would normally go to eateries and bars with her companions (Forbes). Along these lines, to keep away from pointless uses, Geoffrey and Julie began to live respectively (she leased a room in his condo), and eliminated all articles they used to burn through cash on. Synthetic compounds for family errands, gas, eating out, getting hair styles in salons, and different exercises and buys individuals in Calgary become accustomed to making ended up requiring enormous measures of cash. Geoffrey and Julie looked for options; for instance, they strolled or biked as opposed to utilizing their autos. Step by step, they figured out how to live without buying things that practically any resident thinks about important; they just went to supermarkets to purchase nourishment. At the point when the Buy Nothing Year venture had hurried to its end, Geoffrey and Julia determined their investment funds. It turned out during the year, Geoffrey had spared $42,300. Julie, in her turn, had spared $13,800. Them two state they have gotten numerous valuable aptitudes consistently: to live just on what is fundamental, thriftiness, overseeing cash, and other valuable attributes that will assist them with thinking about cash less, and center around what they like doing. Geoffrey's and Julie's experience shows how in any event, living in a created nation, where promoting and utilization have arrived at its pinnacle, an individual can in any case stay careful and keep up power over their consumptions. Social obligations and correspondence appear to be firmly associated with going through cash—feasting out with companions, sitting in bars, setting off to the film, etc and in this way declining them might be troublesome. In any case, the results merit the hazard. References "The Buy Nothing Year: How Two Roommates Saved More than $55,000." Forbes. Forbes Magazine, n.d. Web. 30 Sept. 2014. . exposition about li>GET ANSWER