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Eco 561 Week 5 Lt Reflection

684 words - 3 pages

Week 5 Learning Team C Reflection
ECO/561
September 22, 2014
David Mozinski

Week 5 Learning Team C Reflection
This week’s material discussed more macroeconomics and the global economies. It ran the gamut from basic macroeconomic concepts all the way through understanding the causes and effects of financial crises. The objectives were to accurately project the effects of credit markets on the economy and global economic conditions regarding trade and specialization business decisions. Learning Team C will demonstrate their academic findings and discuss the areas of difficulty and how the material relates to their individual fields.
Topics in Which We Felt Comfortable
Primary ...view middle of the document...

Understanding international finance is to know the history and foundation of the international monetary system which began in 1944 when an international conference was held in Bretton Woods, New Hampshire. This conference laid the ground work for the current Bretton Woods system to retain the fixed exchange rate while improving upon the domestic macroeconomic adjustments. (McConnell, Brue, & Flynn, 2009) The concepts that were covered did not directly correlate to the team’s current roles and responsibilities at work leading to an even greater challenge in understanding the concepts presented.
Real Life Applications
The entire team agreed that it was a challenge to apply this week’s topics and objectives to their current professions. However, the team reached a consensus that possessing knowledge of how income and consumption affect business in general, regardless of industry, is important to nearly everyone engaged in business. From the macroeconomics perspective, gaining a detailed understanding of financial crises is important because periods of financial crisis impacts nearly every business sector in one way or another. As noted above, even the...

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