Analysis of a News Article on Economics

1838 Words4 Pages

Introduction

The study of economics is important to everyone. Financial decisions affect everyone in their day-to-day routines. Economics is the study of how society manages its scarce resources (Mankiw, 2012). Macroeconomics is the study of economy wide phenomena, including inflation, unemployment, Gross Domestic Product, and economic growth (Mankiw, 2012). Macroeconomics is important because, it is how all of us relate into markets and economies. Many news articles today are centered on the economy and current events. One of these articles lends itself to many economic principles and ideas. Even though there are many important topics not covered in the article, the article titled, "You Are What You Owe" in Time, encompassed many general economic principles as well as the many macroeconomics indices illustrated in the article.

Article Summary

The article titled “You Are What You Owe,” centers around the recent gridlock in Washington over the debt ceiling (Mallaby, 2011). The article explores what would have happened had the United States government not come to an agreement on the American debt ceiling. The article also relates the United States crisis to previous counties that have faced this crisis in the past (Mallaby, 2011). The article reports on the finance and economic conditions in 2011 in the United States during the debt crisis (Mallaby, 2011). The article also discusses the American credit and bond strength and government’s securities, as well as the United States federal debt (Mallaby, 2011). The Gross Domestic Product or GDP, for different countries is also discussed in this recent article (Mallaby, 2011). The United States foreign economic relationships are also explored in the article titled, “Yo...

... middle of paper ...

...tuations.

Works Cited

Central Intelegence agency (CIA). (2011, February 4). The World Factbook. Retrieved September 2011, 2011, from United States: https://www.cia.gov/library/publications/the-world-factbook/geos/us.html

Mallaby, S. (2011, May 9). You Are What You Owe. Time , 177 (18), pp. 34-37.

Mankiw, G. (2012). Pricipals of Macroeconomics (6th Edition ed.). Mason, OH: South- Western Cengage Learning.

Molony, W. (2009, November 13). NAR Survey Shows First-Time Home Buyers Set Record in Past Year. Retrieved September 1, 2011, from National Association Of Realtors: http://www.realtor.org/press_room/news_releases/2009/11/survey_record

Norris, F. (2011, August 11). Sometimes, Inflation Is Not Evil. Retrieved September 1, 2011, from NY Times Online: http://www.nytimes.com/2011/08/12/business/sometimes- inflation-is-not-evil.html?pagewanted=all

Show More
Related

  • Foreign Borrowing in 16th Century Spain

    2056 Words  | 5 Pages

    Sovereign lending, throughout history, has been marked by occurrences of partial default and repudiation by governments of all kind; from medieval princes to dictators to democratic regimes. In the 1970s lending to lesser-developed countries led to the rescheduling and partial defaults in the 1980s. Even the sustainability of the debt of nations such as Belgium, Canada, Italy and even the United States is not free from suspect.

    Read More

  • Seidman's Senseless Scheme of Constitutional Disobedience

    1060 Words  | 3 Pages

    A “Financial Crisis”, an “Economic disaster on a scale few nations have ever experienced”(1), the “Great Recession”, the “Lesser Depression”, the “Long Recession”, the “Global Recession of 2009”(2) and the “Financial Implosion”(3) are all expressions used to describe the economic situation the United States found itself in 2012. Louis Michael Seidman, a Harvard graduate and Carmack Waterhouse Professor of Constitution Law at Georgetown University Law Center, referred to it as “fiscal chaos”. It is Professor Seidman’s belief that the cause of this great chaos is the “archaic, idiosyncratic and downright evil provisions” of the Constitution. Seidman wrote an article in the New York Times entitled, “Let’s give up on the Constitution”, and argues, due to his personal philosophy, that the Constitution should be abandoned. (4) Seidman fails to acknowledge poor fiscal banking policy, lending to non-qualified borrowers, government bailout of private corporations or perhaps the repeal of the Glass Steagall Banking Act (5) as the sources contributing to the financial crisis. Instead, he places the entire blame on the founding fathers. In spite of Seidman’s ridiculous quibbles, the Constitution should be up held to maintain both the solidity and freedom the United States offers its citizens.

    Read More

  • Low Voter Turnout is NOT a Significant Problem in the United States

    1643 Words  | 4 Pages

    Timothy J Penny, Steve Schier. Payment Due: A Nation In Debt, A Generation In Trouble

    Read More

  • Analysis of a Newspaper Article: Much Ado About Mousing

    433 Words  | 1 Pages

    Analysis of a Newspaper Article: Much Ado About Mousing This piece is in the format of a newspaper article in the broadsheet ‘The Independent Review’. Styled as a critical review, the piece is intended to inform the reader about an episode of ‘Tom and Jerry’, a cartoon aimed at young children. However, I decided to imitate the verbose style of a broadsheet critic, and I also aimed to mock the overly analytical, presumptuous tone that the media often exudes, by relating every minor incident of ‘violence’ in the cartoon to extreme cases of brutality in society. I chose to implement the typical discourse structure of a newspaper article, with short, bold introductions and a succinctly clear headline.

    Read More

  • Weimar Hyperinflation

    2077 Words  | 5 Pages

    Kroon, George E. Macroeconomics The Easy Way. New York: Barron’s Educational Series, Inc., 2007. Print.

    Read More

  • The U.S Budget Deficit

    1510 Words  | 4 Pages

    U.S Federal Deficit and Debts:Understanding the history and context. (2011, November 1). Utah Foundation. Retrieved January 25, 2014, from http://www.utahfoundation.org/img/pdfs/rr7

    Read More

  • Homer Economicus Part 2 Summary

    869 Words  | 2 Pages

    Dr. Joshua Hall’s book, Homer Economicus: The Simpsons and Economics tells stories from the popular television series The Simpsons to show how economics are visible in everyday life. The popularity of the show helps portray different economic concepts in a new light that are relatable and easy to understand for all new economic readers. The book gives comedic examples of the most important economic principles to the most difficult economic principles, but truly helps every reader master the microeconomic fundamentals within a three part book. Part I focuses on economic decision making and how certain behaviors affect economic output and viability. Part II focuses on money, markets, and government and how much effect they have in economics.

    Read More

  • Transforming Your Paper into a Presentation

    1045 Words  | 3 Pages

    However, economics is relative to everyone’s life. We can still feel the wound of financial crisis up to today. It’s useful for everyone to learn something about economics.

    Read More

  • Capitalism In America

    1274 Words  | 3 Pages

    Americans have come to the “resolution” of borrowing money to pay off debt. This also comes into play as what gas lead Americans to stop saving all they have earned, and spend both what they receive and borrow, These “resolutions” have brought Americans to an end stage crisis. It then leads to requirements of corrupt capitalism (3).

    Read More

  • Documentary Analysis: Ten Trillion And Counting

    553 Words  | 2 Pages

    One thing that I have learned about college is that you have to sometimes talk about things that make you uncomfortable or scared in order to learn. I do not think I am alone in saying that the United States’ current debt situation is terrifying. Ten trillion dollars alone is an expansive and unimaginable amount of money, and since PBS produced Ten Trillion and Counting in 2009, the national debt has grown to twenty-one trillion. As stated, the documentary was produced during the first months of former President Barack Obama’s first term and focused on former President George W. Bush’s relationship with national debt during his eight year tenure. Ten Trillion and Counting explains some of the questionable decisions that former President Bush made, especially regarding fiscal policy.

    Read More

  • Argumentative Essay On National Debt

    638 Words  | 2 Pages

    America is a grand nation with fruitful lands and kindhearted people. Each year, thousands flood in from the far corners of the earth to partake in our cup of freedom. With every sun, there is a cloud. One of America’s largest clouds is her national debt. The paragraphs that follow will provide more detail about this debt, possible solutions, and ways to accomplish these solutions.

    Read More

  • The Importance of Financial Literacy

    631 Words  | 2 Pages

    Making improvements on our financial literacy results in a wave of impacts on our economy and the financial health in our society because of responisble behiavior with our finances. These modifications to our behavior are neccesary because it let's us address primary cultural problems, for example over-credits on your purchases, mortgages possibly resulting in debt, dealing with expectations on inflation and also planning on your retirement.

    Read More

  • Free College Admissions Essays: Passion for Economics

    445 Words  | 1 Pages

    The crucial importance and relevance of economics related disciplines to the modern world have led me to want to pursue the study of these social sciences at a higher level. My study of Economics has shown me the fundamental part it plays in our lives and I would like to approach it with an open mind - interested but not yet fully informed.

    Read More

  • I Want to Pursue a Career in Economics

    516 Words  | 2 Pages

    In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'

    Read More

  • Analyzing the Two Newspaper Articles

    1058 Words  | 3 Pages

    The newspapers that I am going to analyze are The Guardian and The Sun. Both of the papers represent different approaches to news presentations; different ideologies, and therefore different potential reader groups. The Sun is a tabloid newspaper that reports news that is sensationalised and also takes a subjective angel. Whereas, The Guardian is a broadsheet which reports serious news that are quite detailed and balanced. Broadsheets are often called the ‘quality newspapers’ and therefore is aimed to readers that want more in-depth news.

    Read More

More about Analysis of a News Article on Economics

Open Document