The impact of economic crises on economic growth
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
The impact of economic crises on economic growth
Description/Paper Instructions
Economic crises can have significant impacts on economic growth, leading to negative consequences for both the short-term and long-term health of an economy. In the short-term, economic crises can result in reduced demand for goods and services, causing businesses to reduce their production and lay off workers. This can result in a sharp decline in economic activity, with a corresponding decrease in economic output and employment.
In addition to these short-term impacts, economic crises can also lead to longer-term consequences for economic growth. For example, during a crisis, many businesses and households may default on their loans and become insolvent. This can result in banks facing significant losses and becoming more cautious in their lending practices, leading to a credit crunch that can limit the flow of capital to businesses and households. This reduction in credit availability can make it more difficult for businesses to invest in new equipment and hire workers, leading to a slowdown in economic growth.
Moreover, economic crises can also result in increased public debt, as governments may need to step in to support the financial sector or provide stimulus to the economy. This increase in public debt can put pressure on government budgets, making it more difficult for governments to invest in infrastructure and education, which are key drivers of long-term economic growth.
Moreover, the reduction of employment opportunities, decrease in consumption and lowering of wages can all lead to decreased standard of living. This can result in decreased levels of confidence among consumers, who may become less likely to make large purchases such as homes or cars. This reduction in consumer spending can in turn further slow economic growth.
Another impact of economic crisis is the appreciation of a country’s currency, which makes its exports more expensive, and its imports cheaper. This can lead to a reduction in the competitiveness of domestic industries, leading to a decline in production and exports. This, in turn, can result in a decrease in economic growth and employment.
However, there are also some positive effects that can emerge from economic crises. For example, during a crisis, businesses may be forced to reduce their costs and become more efficient, which can increase their competitiveness in the long run. Furthermore, a crisis may encourage businesses to pursue new markets and invest in new technologies, which can lead to increased innovation and growth.
In conclusion, economic crises can have a significant impact on economic growth, both in the short-term and the long-term. While there may be some positive outcomes that emerge from a crisis, such as increased efficiency and innovation, the overall effect is likely to be negative, leading to reduced demand, reduced credit availability, increased public debt, and lower levels of economic activity. To mitigate these negative effects, it is important for governments to implement policies that support businesses and households during a crisis, while also ensuring that public debt remains sustainable in the long-term.
The impact of economic crises on economic growth
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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