Homework Assignment 1
Applied Research Skills for Economists
ECON 775
1. Log onto the website for Olivier Blanchard’s macroeconomics text book, 3rd edition
(http://myphlip.pearsoncmg.com/bridgepage/index.cfm?vbridgeid=24) and under students, click
on internet exercises. Answer the second question for chapter 1 using economagic and the
second question for chapter 2 on global GDP comparisons.
2. Log onto Dr.T’s Econlinks website (http://econlinks.com) and scroll down to economic issues
and click Public Debt. (Along the way notice all of the articles, stories, data and useful links the
website offers on major economic, political and social issues.) Answer the following questions:
a. Print out a graph of the U.S. national debt as a percentage of GDP. Is this graph based
on RGDP or NGDP? Explain.
b. Place recent U.S. debt levels in historical perspective. Are we in dangerous territory?
c. Click on federal budget spending and the national debt and use charts to explain to a
non-economist how the Federal government spends our taxes. Scroll down to the bottom
and find out how much interest we pay on the national debt.
