Pandemic on the Economy

When you consider the deserted malls, abandoned offices, exceptionally high unemployment, thousands of people dying and the millions of lives on hold in this country, surely you will agree these are extraordinary times that historians will write about. Economic policy makers and political leaders are struggling to come up with a plan to stabilize the economy. As a result, Congress has recently passed the Coronavirus Relief Act — which is probably only the first phase of a multi-part economic assistance package. For your final project in this class, I think it is only appropriate we focus on the economics of today. Therefore, I want you to meaningfully reflect on our current circumstances as a result of the virus and the effect it is having on our economy. Then, I want you to research the Coronavirus Relief Act and other economic stimulus efforts being considered by the government. After collecting and reviewing this information, discuss it with a family member, friend and/or colleague. From your research, reflection and discussions, prepare a well written paper that describes what you learned, current circumstances, how others feel and the anticipated effects of the pandemic on the economy. Also, and importantly, include information about the components of the stimulus package; why the government is intervening with such stimulus measures; how the stimulus monies will be used to increase consumption and aggregate demand (be specific); and, describe the expected outcomes of the package. Further, the government plans to use monetary policies through the Federal Reserve System to stimulate the economy. Explain what monetary policies will likely be used and how they will impact economic growth. This is not a simple project and it is not meant to be. Please prepare a quality college paper in an MLA or APA format that you are proud of and show me how much you care about economics. Feel free to write your personal opinion about this.