Sign In
Not register? Register Now!
Essay Available:
Pages:
2 pages/≈550 words
Sources:
Check Instructions
Style:
Other
Subject:
Mathematics & Economics
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 11.66
Topic:

The 2008 Great RECESSION

Coursework Instructions:

We learned about the Financial Crisis of 2008-2009.  Many students are particularly interested in learning more about the sequence of events that led to the most recent recession.  To learn more about this topic, please take a look at the following  video:
https://youtu(dot)be/JVSpPXterd0
Reflect on this topic and answer the following questions:
-As you are aware, the U.S. economy experienced a deep recession in 2008 and 2009.  While we have witnessed many of the short-term results of the recession, how do you think this economic crisis will affect society in the long-term? 
-What do you think we as a nation have learned from the 2008-2009 financial crisis?
Please read the article "Long Term Effects of Recession"
https://econ(dot)economicshelp(dot)org/2012/01/long-term-effects-of-recession.html
to learn one perspective regarding some of the long-term effects of recession. The author questions whether there is just a sweeping away of inefficient firms enabling a rebounding of economic growth and higher productivity or if there is a permanent loss of output and a persistent loss of economic welfare, even though the recession is officially over.
Specific to the second question about what we have learned from the crisis, experts have mentioned history repeats itself, the financial system in this country matters a lot, and the world is quite interconnected.  Read "Five Lesson from the Recession"
https://www(dot)investopedia(dot)com/articles/economics/09/five-lessons-from-the-recession.asp
one other perspective regarding lessons from the recession
What do you think we have learned?  Do you agree or disagree with the authors?

WordsCharactersReading time
Coursework Sample Content Preview:

Financial Crisis
Student’s Name
Institutional Affiliation

Financial Crisis
The 2008 Great Recession had devastating impacts on the global financial markets. The housing and banking sectors were the ones hit the most by the crisis. Many people lost their jobs, which made them unable to pay their mortgages. As such, they became homeless. The Gross Domestic Product (GDP) of the United States of America (USA) dropped by 4.3% and the rate of unemployment by 10%. One of the primary factors that contributed to this financial crisis was subprime mortgages, which granted borrowers with poor credit histories loans. Economists can obtain numerous lessons from the financial crisis of 2008, which might help to avoid such an economic recession in the future.
The USA economy experienced an economic recession from 2008-2009, which had both short and long-term implications. Some of the primary aspects that causes the financial crisis are subprime mortgages, credit swaps, collapsing of credit markets, and collateralized debt obligations (ABCNewsUS, 2013). Many people are aware of the short-term consequences of the 2008 economic recession. They include joblessness, loss of income, high rate of government borrowing, bankruptcy, and psychological health issues, particularly those related to the lack of employment. The long-term effects of the financial crisis include a high rate of illiteracy, collapse of private firms and investments, lost tax revenues, and inequality (Economicshelp.org, 2012). When people lose their jobs, they drop from schools since the little money they are left with goes to obtaining basic necessities. The loss of income makes it hard for individuals to save, which lead to the reduction of investments. Moreover, the government is likely to lose more money since some streams of revenue collection are closed. Increase in poverty results in income inequality and poor quality of life.
The USA has learned various lessons from the 2008-2009 financial crisis. Some of the critical lessons include investment diversification, economists do not know everything, avoid buying things you do not need or understand, and not all plans become successful (Smith, 2018). When investing, people should know that nothing is guaranteed and that profits and losses are ...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
Order

👀 Other Visitors are Viewing These Other Coursework Samples: