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Analysis of the economic recession

The recession that began in 2008 has lifted in the United States, many economists are saying, though it is lingering in some parts of the world.

You are an economic consultant to a manufacturer. Before making new hires and investing in infrastructure, your employer wants firm evidence. She wants to know just what the definition of a recession is in the first place so that she can have a better sense of how to gauge if and when the recession is indeed lifting, and she wants to know what the best course of action will be.

Prepare a white paper for your client that takes up these issues:
1.    What is the formal definition of a recession? What is the source of that definition? Have we been in one, or have we been in a depression, or have we been in neither condition?
2.    In your view, should your client begin investing now, or curtail investment and wait for safer times?
3.    What single economic concept best describes the approach you are advocating? Remember, your advice is valued precisely because you have formal training in economics. Your client does not, but she has a very strong interest in all things concerning the success of her business and the possibility of failure.
4.    Your case should provide some appropriate reference to a current piece of news that is relevant to the question of recession. Please review recent numbers of the Wall Street Journal to find a relevant story that you can cite, and work it into your paper.

NOTES:
1.    A white paper, in this context, is simply an analysis and policy recommendation. It is somewhat more formal than a memorandum, but without the formatting peculiarities of a memorandum. Before you send your file to me, be sure to read, reread, and follow the syllabus on format requirements. Your paper should simply have a title and byline (that is, “by Your Name”) at the top.
2.    Use only the Times or Times New Roman font, 12-point. Double space, with at least a one-inch margin on all sides of the paper.
3.    Save your file in .doc, not .docx, format. Not all of your correspondents will have a version of Word with that .docx proprietary platform, and many will not use Word at all but will be able to open .doc (but not .docx) files with other software.
4.    Please save your file with this filename (making the necessary adjustments, of course, and paying attention to underscores and hyphens):
Lastname_Firstname_479-5_1-1.doc.
Your revision (if one is required) will be called:
Lastname_Firstname_479-5_1-2.doc.

Your success in this course, as in your work outside the university, will depend in good part on your ability to follow instructions and specifications. If an assignment arrives to me formatted differently in any respect from the specifications given above, I will not read it, and it will earn a D. If a paper comes to me with footnotes or citations that are otherwise inappropriate to the format of the assignment (see
Evidence and Citation below), I will not read it, and it will earn a D. If a 500-word paper comes to me at 450 words or at 550 words, I will not read it, and it will earn a D. Please follow carefully the instructions that come with each assignment, and I will gladly read your work and help you improve it. Disregard these instructions, and I will not. – do 275 words as customer has paid for
Grade on four measures:
• The first is an absolute one, turning on mechanical matters: Departmental standards specify an A paper, a B paper, a C paper, and so on in terms of the number of errors allowed. An A paper has no major structural, mechanical, or logical problems; a B paper has one or two such problems and perhaps a few spelling errors; a C paper has several such problems and/or many spelling errors; and so on.

• The second is also absolute, turning on matters of content: Does the paper contain and discuss an economic concept successfully? Does it include and discuss the concept but need further work in expressing it to best effect? Does it lack the concept or fail to do anything more than mention it? Those are A, B, and C (and lower) papers, respectively—and a perfectly spelled and beautifully written paper without an economic concept is a C paper all the same.

• The third is an assessment of your work on a relative scale: How does your paper compare to those of the rest of your cohort? Is it of higher or lower quality compared to the average?

• The fourth and final measure tracks improvement throughout the course of the semester. If I have seen no strong evidence that you have spent time working with my corrections and trying to understand why I have done the editing and commenting that I have, then your grade is likely to be lower than otherwise. If I have seen evidence to the contrary that you have made efforts to improve your work, then this will likewise be reflected in your grade. On that note, if, in looking at a revision, I see that you have repeated errors that I corrected in the first draft and commented on in my remarks, or if you have not made revisions that I called for, then I will not read your revised draft, and your overall grade for the assignment will be that of the first draft

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