Inflation and Analyses of Monetary Policies

Purpose of Assignment This assignment will introduce students to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) data and provide students with the skills to calculate inflation and interpret the Consumer Price Index (CPI). Note: The BLS is the primary source of information on inflation, but their data is re-posted in other sources, such as the St. Louis Federal Reserve FRED site, among others.
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Assignment Steps 
Resources: Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products. 
Use an internet search or the University Library to locate information on the Consumer Price Index (CPI). Internet sites you might find useful include the Bureau of Labor Statistics (BLS) and the Federal Reserve of St. Louis FRED web site although you are allowed to use other sources. 
Develop a minimum 700-word essay on inflation by including the following:

  • Choose a product or service you currently consume/use, such as apparel or educational services, that is included in the CPI’s “market basket.”  Find the annual CPI index numbers for your chosen good or service for the years 1995, 2005, 2010, and 2015.  Enter those index numbers in an Excel® file and calculate the percent change (inflation rates) in those index numbers from 1995 to 2005, from 1995 to 2010, and from 1995 to 2015.
  • Analyze the trends in overall inflation over the last five years and whether your income has kept pace with inflation.  How has inflation over the last five years affected you and/or your family?
  • Discuss how a business manager, such as a human resources manager, might use CPI statistics. 

Cite a minimum of three scholarly, peer-reviewed references. 
Format your paper consistent with APA guidelines. 
Click the Assignment Files tab to submit your assignment.

Individual Assignment: Inflation and Analyses of Monetary  Policies
Purpose of Assignment

This assignment will introduce students to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) data and provide students with the skills to calculate inflation and interpret the Consumer Price Index (CPI). Note: The BLS is the primary source of information on inflation, but their data is re-posted in other sources, such as the St. Louis Federal Reserve FRED site, among others.
 

Resources Required

 
Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Grading Guide

 

Content Met Partially Met Not Met Comments:
·         Chose a product or service student currently consumes/uses, such as apparel or educational services, that is included in the CPI’s “market basket.”
·         Found the annual CPI index numbers for the chosen good or service for the years 1995, 2005, 2010, and 2015.
·         Entered those index numbers in an Excel® file
·         Calculated the percent change (inflation rates) in those index numbers from 1995 to 2005, from 1995 to 2010, and from 1995 to 2015.
1.5 0.75 0 0.5  for each requirement
1.  Analyzed the trends in overall inflation over the last five years
2.  Analyzed the trends in student’s income
3.  Answered the following question:
a.  Has student income kept pace with inflation.
b.  How inflation over the last five years affected student and/or your family?
1.5 0.75 0 0.5 for each requirement
1.  Discussed how a business manager, such as a human resources manager, might use CPI statistics. 0.5 0.25 0
Cited a minimum of three scholarly, peer-reviewed references. 0.25 0.125 0
The analysis is a minimum of 700 words in length. 0.25 0.125 0
 
Segment Total
 
 
4
2 0

 
 

Writing Guidelines Met Partially Met Not Met Comments:
The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. 0.25 0.125 0
Intellectual property is recognized with in-text citations and a reference page. 0.25 0.125 0
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. 0.15 0.075 0
Sentences are complete, clear, and concise. 0.25 0.125 0
Rules of grammar and usage are followed including spelling and punctuation. 0.10 0.05 0
 
Segment Total
 
 
1
0.5 0
Assignment Total 5 2.5 6
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