module’s macroeconomics topic

MAIN POST: 200 WORDS:

MThe most exciting part about Macroeconomics is the application, not just what you read in a textbook.
Choose any podcast related to this module’s macroeconomics topic, then choose a specific current episode of that podcast. Your reference will be the name of, and link to, your chosen podcast. As you listen to your chosen podcast, pay particular attention to any discussion relating to economic thinking and behavior.
After listening to the podcast, answer the following questions:
What important new information did you learn from this podcast?
How did this new knowledge relate to macroeconomic theories, such as economic thinking and behavior? Relate the discussion response to this week’s reading material.
What are your own experiences with the topic(s) covered in the podcast?
Examples of acceptable economic oriented podcasts include:
EconTalk;
Freakonomics;
CATO Daily Podcast;
The Sound of Economics;
NPR’s Marketplace series (some daily and some weekly);
NPR’s Planet Money;
Weekly Economics Podcast; and
Bloomberg’s Stephanomics to name just a few.
If you are unfamiliar with podcasts, search for economic podcasts, using any of the above options, or just search for economics podcasts. It is also acceptable to use TED talks that center on economic issues.
Please remember that, in the discussion, it is important that you add your personal comments, in addition to summarizing the podcast you chose. It is not enough to say what you heard. You must also analyze the material.

PEER’S REACTION #1, 100 WORDS

Hi Class,
For the discussion today I listened to the NPR Planet Money podcast. I decided to listen to the episode on what’s causing inflation. I did not realize that the Fed had caused the bond markets to crash in 2013 by only saying one sentence. They came out and said they were going to slow down on purchasing bonds, but did not give a time frame. Which led to a large sell off in the bond market causing the bond market to crash.
I also learned that the Fed would usually raise interest rates when the unemployment rate dropped to a certain level in order to try and stop an “inflation spiral”. This is when unemployment keeps dropping and wages keep increasing. These two ideas relate directly back to principles 9 and 10 in our lesson this week. The government created an influx of money when they gave the stimulus checks during the COVID lockdowns. This is an example of the government producing too much money. While this was good for the average person, including myself, it also increased the inflation rate.
I have been effected by these in both good and bad ways. In the 2008 recession I was laid off from my job. This caused me to lose my job and my home at the time. Luckily I landed on my feet and was able to recover from that. This time around I have seen the portion of my retirement investments drop because of some of the market downturns since all the talk of inflation because of the stimulus packages. I have also benefited from the hot labor market and advanced my career faster than I thought I would by now because of these things.
Chris
NPR Planet Money podcast, 2022. The debate over what’s causing inflation. https://podcasts.apple.com/us/podcast/the-debate-over-whats-causing-inflation/id290783428?i=1000566873573

PEER’S REACTION #2, 100 WORDS

Whether or not you notice it, economics plays a significant role in our day-to-day lives. From what we buy to how we budget, economics is a major factor in a lot of our regular activities. Still, there exists a collection of economic principles that dictate how the economy functions and what rules should be set.There are 10 basic economic principles that make up economic theory and act as a guide for economists. Aside from standard economic concepts like supply and demand, scarcity, cost and benefits, and incentives, there are an additional 10 principles to follow in the field. AS I listened to the podcast there was one principle that stood out to me the most. That principle would be a country’s standard of living depending on the country’s production. Matthieu, stern podcaster of Economic Principles, says “This growth can be traced back to the goods and services produced in each country. In places where workers are able to produce more goods, the standard of living is higher, and vice versa. To increase the living standard, there need to be public policies that affect it without negatively impacting productivity by way of increasing education and providing better access to tools and technology”. As we know, there are different standards of living in different countries, and this is directly correlated to the country’s productivity.For example, even in high-income countries, the Western world has made leaps and bounds in what we consider to be the standard of living.
Kimberly
https://www.bbc.co.uk/programmes/p02nrss1/episodes/downloads

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