module+3

                      PAF 101 EXERCISES: MODULE THREE BASED ON CHAPTERS 5 & 6 ** Whenever you use a source in your answer, including all quotes, you must provide an APA-style internal citation and a full APA-style reference in the References page exercise. HINT: Most of these exercises require citations. ** Whenever you attach an article, it must be directly behind the exercise in which it appears, and it must be clearly labeled with the exercise number and letter to which it  pertains. Attach only the first page of the article unless otherwise stated. ** If your societal problem pertains to an area outside of Onondaga County, you must clear it with Coplin and your TA. Attach your email from Coplin approving your area. Failure to do so will result in a loss of 10 participation points. Exercise 5.1: Describing the Societal Problem and its Geographic Location Your Total Score:_____ (Maximum: 8 points) A. Briefly state your societal problem and which local area of the country it applies to (i.e. town, city, county, school district). For this module, your geographic level must be local. (2 points) Part A score:_____ • ** State your societal problem here: **   Too much unemployment • ** State the specific geographic area you will be focusing on here: **   Town of Yorktown, NY. B. Clearly describe two of the most important negative effects of the problem. (6 points) Part B score:_____ • ** Describe the first negative effect here: **   Unemployment means less disposable income among consumers creating less demand for goods and services of businesses in Yorktown. • ** Describe the second negative effect here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Reduces the tax base for local governments leading to a contraction of government services. Exercise 5.2: Providing Evidence of a Societal Problem within the County of your Choosing Your Total Score:_____ (Maximum: 21 points) Provide three different forms of clear and convincing evidence of the societal problem identified in Exercise 5.1. Specify the geographic locality that each piece of evidence is from, which should be the same locality as you identified in 5.1. If it is not, you must specify how the evidence you find is relevant to the locality that you specified in 5.1. • Write up to 4 sentences describing each piece of evidence. (7 points each) • Label graphs and tables using the guidelines in Chapter 16 of the //Maxwell Manual// - one

point will be deducted for each format error. <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">       <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">   <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">  <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">   <span style="font-family: TimesNewRoman,Italic;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">      <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">      <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">      <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">       <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">   <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">     <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">    <span style="font-family: TimesNewRoman,Bold;">  <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">   <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> • **<span style="font-family: TimesNewRoman,Bold;"> Write up to 4 sentences providing evidence of your societal problem and support  ** this evidence by including a trend line graph. (Note: graph must be generated electronically and may not be hand drawn): <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This graph shows that unemployment increased significantly between 1999 and 2003, peaking at 4 percent. Although it has declined slightly since 2003, it remains elevated compared to 10 years ago. While not low compared to the national average, rising employment will probably curtail Yorktown’s future growth prospects. Moreover, with poor prevailing economic conditions nationwide and the collapse of property values, we can expect that unemployment will continue to rise. • **<span style="font-family: TimesNewRoman,Bold;"> Write up to 4 sentences providing evidence based on a quote from a player,  ** stakeholder, or expert you interviewed here (include the direct quote that supports the evidence): <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> “While the general economy is contracting, my personal situation is doing well because I am not carrying much debt and the day-to-day expenses of gas prices have come down because of the economy-wide decline in demand, “ said Christian Brunelli, a teacher at Putnam / Northern Westchester BOCES. This quote shows that not all individuals are suffering in this economy. While unemployment has increased, the cost of living has declined in some commodities such as gasoline prices. Depending on a person’s individual economic situation, rising unemployment can have different effects. • **<span style="font-family: TimesNewRoman,Bold;"> Write up to 4 sentences providing evidence by citing a print or electronic source  ** here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> "‘Many of these high-paid Wall Streeters reside in our region, so any fallout on Wall Street is likely to be echoed in our community,’ said Johny Nelson, a market  analyst for the state Department of Labor. ‘Any number of industries could be  impacted, from professional and business services, to retailers, to leisure and  hospitality, to construction.’  The unemployment rate rose from 5.4 percent in July to 5.5 percent in August.  That's up sharply from a year ago, when August unemployment was 3.9.”  Spohr, Gerald. “Region’s Unemployment Up Sharply Since 2007.” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">Times Herald-    //  Record <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. September 29, 2008.      This recent article notes the sharp increase in unemployment over the past year. This region was hit hard because of its large presence of the financial sector in the area. Since the financial industry was hit the worst by the financial crisis and provides demand for other goods and services in the area, increases in unemployment here will likely spill over into the general economy. The article includes a quote from a Department of Labor analyst supporting the statistical evidence. Exercise 5.3: Identifying Underlying Causes of the Problem Your Total Score:_____ (Maximum: 12 points) Describe and provide sources for the four most significant causes that contribute to the existence of the societal problem which you are studying. (NOTE: the causes and sources used can be general & not specific to the local area.) The causes should not overlap or be redundant. •   One source may be used for several or all of the causes, and at least one of the four must be based on a quote from a player, stakeholder, or expert you have interviewed (7 points will be deducted if you do not do this). •   3 points will be deducted if a major cause is not discussed and full credit will be assigned only if reasonable causes are included and the discussion is clearly and precisely written. • ** Write and briefly describe the first cause here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> The repeal of the Glass-Steagall Act in 1999 removed the wall between investment (Wall Street-Oriented) banks and retail (Main Street-Oriented) banks, deregulating the banking sector and exposing individual depositors to the volatility of the international investment decisions. • ** Write and briefly describe the second cause here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> The bursting of the Dot-Com stock market bubble led to many investors over investing in mortgage backed securities and individuals opting to invest in real estate rather than market investments leading to a housing bubble. • ** Write and briefly describe the third cause here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Former Federal Reserve Chairman Alan Greenspan pursued pro-growth policies by lowering interest rates that encouraged speculative investment, exacerbating the stock-market and housing bubble instead of raising interest rates to discourage speculative investments. • ** Write and briefly describe the fourth cause here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Pro-homeownership policies encouraged banks and mortgage companies such as Freddie Mac and Fannie Mae to grant risky mortgages to low-income individuals who due to vicissitudes of the economy became unable to keep up with mortgage payments. Ultimately, the growth of mortgage-backed securities among the commercial paper assets held by banks led to a drying up of credit flows forcing business to lay off workers and increasing unemployment. Hornig, Frank & Shiller, Robert (2008). “Plugging Holes in a Sinking Ship.” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">Der   // Spiegel <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. October 7. Exercise 5.4: Describing the Current Policy Your Total Score:_____ (Maximum: 8 points) A. Describe one current policy now in effect in the locality you specified in 5.1 to remedy the problem described in 5.1. The policy can originate at a local, state, or national level but must be operating in all or part of the locality you have chosen. Be clear where it originates. (2 points) Part A score: _____ • ** Describe the policy here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> NY Governor David Patterson has proposed deep cuts in state aid to local school districts in response to the rising unemployment, fears of recession, and tax revenue shortfalls. • ** Write in what specific geographic level the policy originated here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This policy originated at the state level. B. Identify the local administrative unit primarily responsible for implementing the policy. (2 points) Part B score:_____ • ** Identify the local administrative unit here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This policy will be implemented by local school districts in New York State as they adjust their own budgets and make cuts in response to cutbacks in the NYS budget. For this essay, I chose the New Rochelle School District. • ** State the geographic location over which they have the authority to act: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> The New Rochelle School District has jurisdiction over educational decisions within the City of New Rochelle, NY. C. Identify the legislative body that is the original source of this policy. (2 points) Part C score:_____ • ** Identify the legislative body here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This policy originates in the NY State’s legislative bodies, the NY Assembly and NY State Senate. • ** State the geographic location over which they have the authority to act: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> They can act, within their constitutional circumscribed authority, within the borders of the State of New York. D. Describe how a court at any level (local, state, federal) could be involved in the application of the policy. (2 points) Part D score:_____ • ** Describe how a court could be involved here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Since state aid formulas are generally determined by enrollment and population statistics, a local school district could sue the state in a state or federal court if they feel that the state’s decision violates their equal protection rights of their students under the law and petition for an increase in state aid. • ** State the geographic location over which they have the authority to act: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> NY State courts have jurisdiction within the state of New York. Costello, Diana (2008). “Schools Fear Midyear State Aid Cuts.” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">Journal News   // <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. November 13. Exercise 5.5: Describing the Role of Business and Non-Profit Organizations Your Total Score:_____ (Maximum: 6 points) A. Identify a business corporation and describe an action it takes to reduce the societal problem you are studying at any geographic level, not necessarily your chosen locality. (3 points) Part A score: _____ • ** Write the name and location of the corporate headquarters of the business here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> General Motors, Inc. Renaissance Center 100 Renaissance Center Detroit, MI 48248 • **<span style="font-family: TimesNewRoman,Bold;"> Describe the action in one sentence by quoting a statement either from the company  ** itself or another source, indicating that the corporation takes an action to reduce the problem here: <span style="font-family: Georgia,Bold;"> <span style="font-family: Georgia,Bold;"> <span style="font-family: Georgia,Bold;"> “GM can’t survive as an ongoing entity without massive federal assistance. The company is burning through more than $2 billion each month. It has $16 billion left. As if they were aboard a dirigible losing altitude, GM's bosses have been frantically throwing all manner of stuff overboard — retiree health-care benefits, people, assets, new car design — to conserve $5 billion. That will get it through the year” (Time 2008). <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> To reduce their liabilities, GM is cutting all unnecessary costs in an effort to ride out the recent economic downturn. However, it seems that GM, once the largest corporation in the world, may not be able to survive without government assistance. This would lead to massive unemployment, particularly in the Northeast and Midwest of the United States. Saporito, Tom (2008). “Is GM Worth Saving?” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">Time   // <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. November 13. B. Identify a non-profit organization and describe an action it takes to reduce the societal problem you are studying at any geographic level, not necessarily your chosen locality. (3 points) Part B score: _____ • **<span style="font-family: TimesNewRoman,Bold;"> Write the name and location of the local or national headquarters of the non-profit  ** organization here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> United Way of Northern Westchester P.O. Box 68 Mount Kisco, NY 10549 • **<span style="font-family: TimesNewRoman,Bold;"> Describe the action the organization takes to reduce the problem in one sentence by  ** quoting a statement either from the organization or another source: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> When you reach out a hand to one, you influence the condition of all. That’s what it means to LIVE UNITED. We all win when a child succeeds in school … United Way’s mission is to advance the common good. With your help, we can create opportunities for a better life by focusing on: a quality education that leads to a better job, which provides the income that can support a family through retirement; and good health. Everything we do supports these building blocks for a better life – and that affects all of us. The United Way runs numerous social service activities including homelessness programs, income support programs to working families, and job-training programs to displaced workers. Exercise 5.6: Examining the News Media's Discussion of Societal Problems Your Total Score: _____ (Maximum: 6 points) Select and describe an editorial, op-ed, or letter to the editor published after May 15, 2007 from any newspaper that discusses your societal problem at any governmental level or location. Do not summarize the article. Attach a copy of the entire article directly behind this exercise. • **<span style="font-family: TimesNewRoman,Bold;"> Describe how well the author presents the “societal problem,” “evidence of the  ** problem,” and “causes of the problem,” and quote at least one sentence or part of it from the article here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This op-ed piece compares the current financial crisis to the Great Depression of the 1930s and references the range of economic problems ranging from the health of financial institutions and declining consumer demand. Unlike conservatives, who attribute economic problems to government interventions in the economy, Krugman argues that the real danger is not doing too much, but doing too little. The failure of FDR’s economic policies was that they were too cautious, not too experimental. Krugman, Paul (2008). “Franklin Delano Obama.” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">New York Times   // <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. November 10. Exercise 6.1: Evaluating the Grading Exercise and Increasing Learning Your Total Score:_____ (Maximum: 6 points) Identify and justify in one sentence which of the three grading alternatives would be most <span style="font-family: TimesNewRoman,Bold;"> feasible in future PAF 101 classes. In another sentence, identify and justify which of the three grading alternatives would be most in future PAF 101 classes. • ** Write one sentence for which alternative would be most feasible here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> The most feasible alternative would be the traditional system because most students are accustomed to operating within a traditional grading framework and regardless of individual benefits will avoid the risk of change. • ** Write one sentence for which alternative would be most effective here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> I think the “Conservative System” would be the most effective proposal for raising the effort and learning of students in PAF 101. While it would easy for many students to receive an “A,” the small “B” window would encourage a greater spectrum to increase their efforts to avoid receiving a “C” grade. Exercise 6.2: Developing Public Policy Alternatives Your Total Score:_____ (Maximum: 33 points) A. Using , describe a public policy alternative to  the existing policy to deal with the societal problem identified in Exercise 5.1. The information can refer to any geographic area or governmental level. •   The policy must be at the local level and be reasonable in terms of the criteria discussed in Step 2 on pp. 73-74 of the //<span style="font-family: TimesNewRoman,Italic;">Maxwell Manual // .  •    To receive credit for this exercise, the alternative must be able to be implemented by one or more agencies that have direct authority in the geographic location your policy targets. •   Rate the feasibility and effectiveness of your alternative using the terms “high,” “medium,” or “low,” and justify your rating. (8 points) Part A score:_____ • **<span style="font-family: TimesNewRoman,Bold;"> Description of Policy Alternative #1 and the local government agency responsible  ** for implementation here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Instead of cutting state and local budgets, the federal government should sizably increase government subsidies to state and local governments to cover their revenue shortfalls. While most state and local governments are required to maintain balanced budgets, the federal government is note. Further cuts in public spending will further reduce demand, exacerbating current economic problems. This policy would be implemented through all local agencies, particularly education, welfare, and infrastructure bureaucracies. • **<span style="font-family: TimesNewRoman,Bold;"> Identify your source of information and explain how it helped you formulate your  ** policy here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> The “paradox of thrift” is a fundamental lesson in most introductory macroeconomics courses. Essentially, what seems economically rational from a household POV – cutting spending to improve the bottom line on the balance sheet – is harmful from the economy-wide perspective because it leads to further decreases in demand, which leads to less production, which leads to more employment creating further pressures to decrease demand. As a result, most Keynesian economist believe that balanced budgets in times of economic hardship are bad policy. A recent article by the Center for Forensic Economic Studies makes the well known argument first formalized by John Maynard Keynes. Center for Forensic Economic Studies. (2008). “The Paradox of Thrift and Demand Deficiency.” // <span style="font-family: TimesNewRoman,BoldItalic;"> <span style="font-family: TimesNewRoman,BoldItalic;">The Visible Hand in Economics   // <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">. November 13. http://tvhe.wordpress.com/2008/11/12/the-paradox-of-thrift-and-demand-deficiency/ • ** Rate Policy Alternative #1 Effectiveness here: ** • ** Justification: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Based on the consensus of most students of macroeconomics and practiced by many governments throughout the world, increasing spending during recessions to lessen the effects of the business cycle is likely to ameliorate the problem of unemployment by stimulating demand. • ** Rate Policy Alternative #1 Feasibility here: ** • ** Justification: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> While most governments practice Keynesian economic policy, conservative administration tend to favor monetarist policies that deal with economic downturns by lowering interest rates. Moreover, the public tends to view increases in spending as wasteful and prefers lower taxes and balanced budgets. Additionally, the previous $700 billion rescue plan may make it difficult to pursue additional stimulus programs. Therefore the feasibility is only moderate. B. Using **<span style="font-family: TimesNewRoman,Bold;">information you received through an interview with a player, stakeholder, or ** expert , describe a public policy alternative to the existing policy to deal with the societal problem identified in Exercise 5.1. The information can refer to any geographic area or governmental level. •   Follow the instructions from Part A. (8 points) Part B score:_____ • **<span style="font-family: TimesNewRoman,Bold;"> Description of Policy Alternative #2 and the local government agency responsible  ** for implementation here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Same as 6.2 A, but must come from an interview with a player • **<span style="font-family: TimesNewRoman,Bold;"> Identify your source of information and explain how it helped you formulate your  ** policy here: • ** Rate Policy Alternative #2 Effectiveness here: ** • ** Justification: ** • ** Rate Policy Alternative #2 Feasibility here: ** • ** Justification: ** C. Using , describe a public policy alternative to the existing policy to deal with the societal problem identified in Exercise 5.1. The information can refer to any geographic area or governmental level. •   Follow the instructions from Part A. (8 points) Part C score:_____ • **<span style="font-family: TimesNewRoman,Bold;"> Description of Policy Alternative #3 and the local government agency responsible  ** for implementation here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Same as 6.2 A & B, information can come from any source • **<span style="font-family: TimesNewRoman,Bold;"> Identify your source of information and explain how it helped you formulate your  ** policy here: • ** Rate Policy Alternative #3 Effectiveness here: ** • ** Justification: ** • ** Rate Policy Alternative #3 Feasibility here: ** • ** Justification: ** D. Using only your ratings and justifications in Parts A-C, summarize your preferred policy alternative clearly and coherently in no more than 5 sentences. (9 points) Part D score:_____ • **<span style="font-family: TimesNewRoman,Bold;"> In no more than 5 sentences, state your preferred policy and explain why it is  ** superior to the other two alternatives by comparing the feasibility and effectiveness of each here: <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> I prefer fiscal stimulus to monetary policy because it appears that we are entering what Nobel Prize-winning economist Paul Krugman calls “depression economics.” In other words, normal monetary policy has lost traction and is unlikely to stimulate the economy. Moreover, interest rates are already low, so further reductions are unlikely to affect investment or lending decisions by banks. Therefore, fiscal stimulus is more likely to be effective. Moreover, financing existing programs instead of creating new government programs makes it more feasible because the public will not see it as a tax increase and see the “local effect” of the policies and will have broader support than normal stimulus. Exercise 6.3: Finding Legislation on Your Topic Your Total Score:_____ (Maximum: 10 points) A. Using the Congressional Information Service (CIS Index) reference material or the web address, , find a piece of federal legislation related to your topic area (not  necessarily your proposed policy). Attach a copy of the first page of the legislation. (5 points) Part A score:_____ • ** Record the full search statement you used here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> Fiscal Stimulus • ** Write one complete sentence on how the bill is related to your topic here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This bill is the most recent comprehensive fiscal stimulus bill passed by the U.S. Congress to stimulate consumer demand in the economy. H.R. 5140. The Economic Stimulus Act of 2008. B. Using the New York State web address or the New York State Assembly or Senate home pages, find a piece of  legislation related to your topic area (not necessarily your proposed policy). Attach a copy of the first page of the legislation. (5 points) Part B score:_____ • ** Record the full search statement you used here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> “Economic” under “Laws of New York State. Economic Development Law • ** Write one complete sentence on how the bill is related to your topic here: ** <span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;"> This law created the Office of Economic Development and provides for many of the state-level economic promotion programs including job-training, business promotion, & economic subsidies to promote economic growth.
 * <span style="font-family: TimesNewRoman,Bold;">effective **
 * <span style="font-family: TimesNewRoman,Bold;">information from a book, website, or article **
 * <span style="font-family: TimesNewRoman,Bold;">any source of information **
 * <span style="font-family: TimesNewRoman,Bold;">http://thomas.loc.gov **
 * <span style="font-family: TimesNewRoman,Bold;">www.state.ny.us **
 * <span style="font-family: TimesNewRoman,Bold;">http://assembly.state.ny.us ** or **<span style="font-family: TimesNewRoman,Bold;">http://senate.state.ny.us **

<span style="font-family: TimesNewRoman,Bold;"> <span style="font-family: TimesNewRoman,Bold;">