Spooky Stock Scandals: Corporate accountablilty in the United States

(Appologies - I thought I posted this Friday but apparently saved the assignmment as a draft instead. The Blog is still due Wednesday 11/4 before class.)

Directions: Readthe articles below (each is less than one page in length.)
AIG is the New Enron
http://features.csmonitor.com/economyrebuild/2009/03/19/aig-is-the-new-enron/
Lessons of Enron
http://www.csmonitor.com/2002/0116/p1s1-usec.html
AND
A Whiter Shade of Enron (AIG)
http://www.nytimes.com/2005/04/03/business/yourmoney/03gret.html

A) Use these articles and any outside resources you chose to summarize the American International Group (AIG ) and ENRON scandals.
B) What happened in both cases that outraged so many Americans?
C) How did these events change the stock market and the American public’s view of corporations?
D) In your opinion, how should corporations be held accountable for “white collar crimes”? What can be done to prevent future scandals like these?
E) What questions do you have about these scandals and how they relate to the US economy?

Minimum 250 words, due Wednesday, November 4 before class.

Researching and Assessing the Stimulus Package

Researching and assessing the Stimulus Package

In order to facilitate in-depth exploration of the provisions for GDP spending (and, hopefully, economic recovery) outlined President Obama’s 2009 stimulus package, please actively examine the following resources and complete steps 1-4:

1) Article : "This isn't your run of the mill recession"

http://edition.cnn.com/2009/POLITICS/02/09/obama.news.conference/index.html#cnnSTCOther1

2) Breakdown of GDP spending as proposed in the plan (chart):

http://edition.cnn.com/2009/POLITICS/02/09/obama.news.conference/index.html#cnnSTCOther2

3) Read an article regarding ONE of the topics outlined below

Education http://blogs.harvardbusiness.org/on-innovation/2009/02/obamas-education-stimulus-isnt.html And/ or

http://www.eschoolnews.com/news/top-news/?i=57333

Energy and the Environment http://www.latimes.com/business/la-fi-stimulus-green18-2009feb18,0,5194715.story

Transportation and public works http://www.forbes.com/feeds/ap/2009/03/06/ap6135687.html

Taxes ( you only have to read one, but are ENCOURAGED to read both articles)

citizens - http://www.cbsnews.com/stories/2009/02/16/personalfinance/main4804729.shtml?source=RSS&attr=_4804729

OR

businesses- http://online.wsj.com/article/SB123630457644747709.html

Health care - http://www.cjr.org/campaign_desk/what_the_stimulus_package_hold.php

Employment: http://www.cnn.com/2009/POLITICS/03/06/obama.stimulus/

Poverty relief

http://uspoverty.change.org/blog/view/taking_stock_of_obamas_stimulus_package_part_i

4) Share your observations on the Stimulus Package overall and the specific component of GDP spending that you read about in the third source.

* Explain the positive and negative aspects of these plans and provide your insight on what economic reforms would be wise to improve conditions in this aspect of the US economy.

* Is this a keynesan or classical solution to the current economic crisis? Explain your answer.

5) post a discussion question for further exploration in class - we'll be debating these issues later on this week.

Reminder: all work for this MP is due Thursday, October 15. This blog is due Wednesday October 14. Minimum of 250 words.

Unit 1 Review Sheet: Economic Systems, Theories and Intro to the US Economy

Review for Economics Test #1: Wednesday Oct. 7

You should review all of the following terms and c0ncepts before our in-class review

on Tuesday, 10/6. Know examples of the broader concepts we have convered thus far.

Print the sheet for your own refernece, I will not be distributing it in class.

Market Economy
Command Economy
Traditional Economy
Socialism
Communism
Full command economy
Partial command economy

Commerce clause
Coinage Clause
Export Clause

Article 1, Sections 8, 9, 10
Amendments 1, 4,5, 9, 10, 16, 18, 21

Aggregation

Highly Developed economy
Developed
Developing

Microeconomics
Macroeconomics

Keynesian Economics
Classical Economics

Presidential responses to ecnomic recession: Hoover, FDR, Kennedy, Johnson, Regan Bush Sr., Clinton, GW Bush, Obama’s stimulus approach
Historical US recessions and booms

Macroeconomic Indicators:
Long term economic growth
Business cycles/ fluctuations
Unemployment
Inflation
Microeconomic policy
International economics

Debt
Defecit
Subsidy
Tarrif
Sanctions
Embargo
Hyper inflation
Deflation
Stagnation
Interest
Assets
Commodities

Favorable balance of trade

Trade defecit

Trade surplus