Fiscal Policy and Stimulus: Crash Course Economics Video Analysis with Key- This is a 12 page document that contains a video analysis assignment and a completed teachers key for easy marking. It contains 35 questions based on The Crash Course Economics video: Fiscal Policy and Stimulus.
This assignment will ask students to go to YouTube and watch the Crash Course video: Fiscal Policy and Stimulus. The video will first introduce students to the topics of recessionary gaps and inflationary gaps. The boom and bust fluctuations of the business cycle is explained and how real GDP is impacted by these economic swings. The concept of fiscal policy is then introduced and how the government intervenes in the market to try and soften the impact of recessions and inflation. The video gives detailed examples of stimulus spending (2009 financial crisis) to show how governments can cope with busts. The Great Depression is then used as an example for when fiscal policy was to stand aside and let the market correct itself, worsening the Great Depression. John Maynard Keynes is then introduced, along with his economic theory of government deficit spending in times of economic recession. The downsides of deficit spending, debt, is then explained. The video concludes by explaining how government stimulus has a multiplier effect and how it helps stimulate more money to be exchanged in the market. Good examples of government stimulus (infrastructure, local government aid) are compared to poor examples of stimulus (payroll and income tax cuts).
This video analysis can be easily used as an introduction to the topic, a study guide, or a quick and easy sub plan. Students love the independence of this assignment by getting to use laptops, Chromebooks, or even their own cellphones to watch the video. Crash Course videos tend to move fast so students often find success if they watch the video through once before going back to pause/play to find the answers to all of the questions.