Discussion 1

Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree?

Review and respond to at least two of your classmates' posts by replying to their posts on how a college education contributes to human capital and the opportunity cost of a degree. Be sure to refer to concepts found in the reading when responding to your classmates

Read the journal article, "Five Big Steps toward Faster Global Growth". Based on the information presented in the article, discuss the following:

• What are the challenges that the US economy will be faced with given a higher debt limit for future economic growth?

• Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a decline in global growth.

Guided Response: Review and respond to at least two of your classmates' posts by discussing this question in terms of how global growth impacts GDP and unemployment.

Discussion 2

Role of Government

Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent).

In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources. The United States economy is a mixed economy, with a bias towards market allocation of resources. This means most resources are allocated in the private sector by way of markets.

Discuss whether you favor a larger or smaller role of government in the economy. Refer to concepts found in the reading to support your opinion.

Markets, Governments, and Nations: The Organization of Economic Activity ? ?Guided Response: Review and respond to at least two of your classmates' by stating why you agree or disagree which economic activities the government is more efficient at providing, and which economic activities the private sector is more efficient at providing.

Discussion 3

Who Benefits and Who Loses from Inflation?

Inflation is an important policy issue because it causes a redistribution of income and wealth, and discourages saving and investment. Discuss how inflation affects borrowers and lenders, asset prices, and households on fixed incomes.