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Week Three Learning Team

Essay by   •  April 17, 2014  •  Essay  •  787 Words (4 Pages)  •  981 Views

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Week Three Learning Team Reflection

This week's reading focused on the multiplier model, financial sector, and the monetary policy's role in the economy. After reviewing each chapter, Team B came together to discuss which parts of the material was comprehensible and if there were any correlation with fields of employment. In addition, some parts of the contents were a struggle to understand.

However, for the most part, the team found the financial sector and economy along with the money policy intriguing because. They each help structure the economy by promoting jobs, steady pricing, and fair long-term interest rates. Below are areas of interest and discomfort for each team member.

Angelica shared that she struggled with understanding the money market chart and the loanable funds market chart. She was unsure as to what she was looking at until she read the figure 14-2 box to the right (Colander, 2010). Once she read how the charts were being explained, she was able to get a better understanding of the model.

Since Angelica works for the fuel industry, she sees firsthand that prices are based on supply and demand. For example, if there is a holiday approaching; the department forecasts that sales will go up as well as the prices. Prices go up because of the amount of travelers and because some stations are owned by private owners, prices are raised and lowered at their discretion.

Christina shared that she finds comfort in understanding and discussing the financial sector, the market for the creation and exchange of financial assets such as money, stocks, and bonds. Christina was interested in how it plays a central role in organizing and coordinating our economy, and how it makes modern economic society possible (Colander, 2010 Chapter 13: The Financial Sector and Economy). The most intriguing is the explanation in how the financial sector, through a structural system has convinced (people) that a piece of paper has value, such as the dollar bill. There is no great difference in what I have grown to understand and the materials but the change from bartering; the exchange of gold to monetary notes is just an example of growth and development in our society.

Kriston contributed that the monetary policies are complicated, but only because they do not always have the intended reaction. There are guidelines called "target rates" and "The Taylor Rule" to help influence the correct action of the monetary policy, but they are not always followed. After reading the chapter, Kriston feels comfortable with discussing the basic procedures of monetary policies. The many things that are affected by these policies will take a little longer to understand fully. Realizing that these policies exist and are enforced to regulate the economy is bizarre to her. Kriston said, she always knew that there were ways to normalize the economy, but the simple

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