Pollin--Econ 104---Short paper assignment #4----4-3-24
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Economics 104: Intro to Macroeconomics
Robert Pollin
April 3, 2024
SHORT PAPER ASSIGNMENT #4
Reminder on length/structure: A
s noted in the syllabus, these essays are due in your sections on Friday April 12. The papers will be graded as letter grades, as with assignment #3. ***********************************
Part 1.
Please answer one of the two the question below, at our usual length, i.e. no more than 400 – 600 words. 1. According to the most widely discussed figure circulated by the U.S. Labor Department, U-3, unemployment in the U.S. is currently 3.9 percent (6.0 million people). But according to another Labor Department measure, U-6, the current U.S. unemployment rate is 7.3 percent (12.2 million people). What is the reason for this large difference in these two official unemployment rate figures? In your view, which measure more accurately reflects actual economic conditions today for most people in the U.S? 2. In 1946, the U.S. government established the Employment Act, which committed the government to establish full employment as a central goal of government policy. But given that the U.S. economy is capitalist, was it realistic then, and is it realistic now, for the economy to operate at full employment?
Part 2.
Note: This is a required part of the assignment, in addition to completing Part 1.
Describe in one paragraph the topic for your term paper. Include in this discussion at least 2-3 references on which you will be drawing in developing the term paper, and how you intend to use these references.
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