Internet research project of economic statistics

In this project, you will be collecting and analyzing historical economic data. We will be using Excel to produce charts similar to our 'Piggy Bank' simple interest assignment. Instead of projecting forward, we will be looking back to answer the question:

What was the better investment choice in 1988 for the typical American worker?

• a passbook savings account with a savings and loan, or
• investing in the Dow Jones Industrial average

Stage one of the process: Data Collection
You need to find various sources of historic economic data for the years 1988 - 2007. You will be populating columns of an Excel spreadsheet by year. The top row should be 1988 and the bottom row 2007.

Your research should populate the following column elements (from left to right):

1. Median household income in the USA that year. Link to census page
2. Average savings rate for Americans (as a percentage of wages) that year
3. Inflation rate for that year
4. Closing value of the Dow Jones Industrial average for that year. Link to DOW figures
5. Average passbook savings interest rate for that year

You may collaborate with other(s) from your class on this project. Start collecting your data and populating your spreadsheet. Try to come up with formulas that will help you make your data chart meaningful.

Savings calculator

Go to our class section on E-Chalk and download the "Savings Calculator" I created (Excel). Complete the assignment based on the instructions in the first tab of the sheet.

Stimulus Plan II

The Senate is currently working out the details of the Economic Stimulus Bill. Changes are being made to the House Bill that was passed last week.

Your task:

1. Review this video: http://www.cnbc.com/id/15840232?video=1026584967 or read this article: http://www.cnbc.com/id/29082942


2. Define these two terms on your Blog: pork barrel and earmark (within the context of legislation).


3. Read this article to compare the House and Senate Bills. List a key difference between the two on your Blog
4. Explore shovelwatch to see if you can identify the Earmarks or Pork in the bill. Describe your favorite example of earmarks or pork on your blog. Another good place to find complaints about over-spending on this bill is in Libertarian Congressman, and Preidential Candidate, Ron Paul's weekly newsletter.

Obama's Economic Stimulus Plan

Read one online article and one online opinion piece outlining Obama's Economic Recovery Plan.

On your Blog:
1. Summarize the key points of Obama's Plan (create hyperlink to background article)

Reuters article

Boston Globe Blog with quick summary and some comments

2. Summarize the key supporting argument or criticism from the opinion piece (create hyperlink to opinion column).

Sample Opinion pieces:

New Republic

NPR radio piece about negative response from some Democrats

Time Magazine analysis

Government spending chart

Review the chart below, upload it to your blog and make two observations about it.

It's official: USA in a Recession

This week the government finally announced our economy is in a Recession and actually has been in one since December of 2007.

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Post on your Blog the following:

1. The difference between the economics terms Recession and Depression.
2. Define the terms GDP (Gross Domesetic Product) and GNP (Gross National Product).
3. Identify the beginning and ending dates of a previous recession in the 2nd half of the 20th century. Link to recession histories
4. Explain how government policies can help end a recession.
5. Were there any economic recessions prior to the Great Depression? Why or why not?

Should the US bail out Ford, Chrysler and General Motors?

Do some research on your own to determine your opinion on this matter.

On your blog please post the following:

1. Three arguments for the government lending them the money they want.


2. Three arguments against the government lending them the money they want.


3. Take a position on the issue and give your reasons.

Link to David Sanger's overview

Link to Mitt Romney's opinion to let them go bankrupt

NY Times opinion piece to bail them out

MarketWatch article about "Big Three" executives' testimony at the Senate Banking Committee on Nov. 18th