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2 pages/≈550 words
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Style:
APA
Subject:
Management
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Coursework
Language:
English (U.S.)
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Topic:

Financial Crisis

Coursework Instructions:

In Chapter 17, you learned about the Financial Crisis of 2008-2009.  Many students are interested in learning more about the sequence of events that led up to that recession.  To learn more about this topic, please take a look at the following video, through this link on youtube; https://www(dot)youtube(dot)com/watch?reload=9&v=JVSpPXterd0
Reflect on this topic and answer the following questions:
1 The U.S. economy experienced a deep recession in 2008 and 2009.  We have witnessed many short-term effects of the 2008-2009 recession. How do you think that recession will affect society in the long-term? 
2 What do you think we as a nation have learned from the 2008-2009 recession?
3 According to the National Bureau of Economic Research (Cycles (Links to an external site.)), we recently entered another recession in February 2020. How are the two recessions similar? How are they different?
Please read the article "The Long-Term Consequences of Recessions for U.S. Workers" (Links to an external site.) to learn one perspective about the long-term effects of recession. The author mentions that there is extensive research on the effects of economic downturns on employment and earnings, not only during the recession, but also for years and decades to come.
Specific to the second question above, “What do you think we as a nation have learned from the 2008-2009 recession?” Experts have mentioned history repeats itself, the financial system in this country matters a lot, and the world is quite interconnected.  Read "Five Lessons from the Great Recession" (Links to an external site.), another perspective regarding lessons from the 2008-2009 recession.
This is business and management , coursework and a master degree student.
Thank you.

Coursework Sample Content Preview:

Financial Crisis
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Financial Crises
A recession is defined as a decline in economic activities in a given region. Recessions have adverse effects on the economy and the overall population. Some of the disadvantages associated with recessions include the loss of jobs. With high unemployment rates, there are high dependency rates. An analysis of the questions below highlights recession in depth together with the effects of the recession.
1 The U.S. economy experienced a deep recession in 2008 and 2009.  We have witnessed many short-term effects of the 2008-2009 recession. How do you think that recession will affect society in the long-term? 
A recession tends to have a significant number of effects. Some of the considerable aspects include unemployment. In a recession, there is a high likelihood that there is a fall in assets' price as the stock market crashes. When there are higher unemployment rates, the dependency rates are high due to society's low income.
As a result of unemployment, there are high poverty rates. After a recession, individuals find it hard to survive without incomes, which turns individuals into moving to affordable areas. The government not being in a position to offer solutions due to high government borrowing results to higher taxes, which will affect the general population. High taxes mean that there will be increased costs of living. With individuals opting to save money after a recession or investing their funds in less volatile areas, many firms will no longer be in operations.
Thus, it is clear that a recession has several effects on society to the extent that it takes time for any given country to recover from a full recession.
2 What do you think we as a nation have learned from the 2008-2009 recession?
There are a significant number of lessons learned from the 2008-2009 recession. Some of the lessons...
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