Evangel's IB Economics Blog

Overall, this project was an eye opener. We were given urgent situation–oil crisis–and were expected to come up with policies that would help the situation. Though we are still in process of learning macroeconomic, this project helped me understand better the macroeconomic goals and how government can influence the economy to solve particular issues.

The presenting the policies was not as bad as the answering the questions. As a group, I think we lacked group effort. Therefore, we did not have much confidence and aggressiveness when approaching the situation. The very first question was about tax. However, this question had some politics associated with it that we were not able to answer. From this, I figured that economic has strong relationship to politics. Secondly, I think we did conduct sufficient research when coming up with the policies. We did not know that the program “Cash for Clunkers” was successful only for a moment and in long run was not successful. We also did not consider the contextual background of the history (Great Depression) when referring it during our presentation. In addition, we did not know that the aircraft carrier and submarines were symbol of power.