Nice To Work With You; 17 Years Of Teaching

Its Nice To Be Working With You I Am In My 17th Year Of Teaching Mba

Its nice to be working with you. I am in my 17th year of teaching MBA courses at University of Phoenix. I grew up in San Jose and now reside in Los Angeles. I teach full time as an Associate Professor at Mount Saint Mary’s University, Los Angeles. I enjoy museums, volunteering, reading about Business and Economics, and taking walks with my dog, Murphy.

My undergraduate degree is from Colgate University, and I completed Master of Business Administration and Doctor of Education degrees at the University of Southern California. It’s a pleasure to be working with all of you. Please contact me if I can help you in any way in support of your education.

Paper For Above instruction

The significant economic upheavals caused by the 2006 housing bubble burst and the subsequent Great Recession provide critical insights into how extreme fluctuations in employment levels influence supply, demand, and overall economic equilibrium in the United States. The collapse of the housing market not only precipitated a sharp rise in unemployment but also profoundly distorted the traditional dynamics of economic markets, leading to long-lasting impacts on economic stability and growth patterns.

During the housing bubble of the early 2000s, there was an unprecedented surge in housing prices fueled by lax lending standards, securitization of mortgages, and speculative investment (Mian & Sufi, 2014). When the bubble burst in 2006-2007, it resulted in widespread mortgage defaults, causing massive financial losses for banks and investors. The immediate consequence was a dramatic increase in unemployment, peaking at 10% nationally by October 2009 (Bureau of Labor Statistics, 2009). This surge in unemployment reflects a significant contraction in labor demand, primarily affecting construction, finance, and related sectors, which were heavily tied to the housing market.

The collapse in employment disrupted consumption patterns, given that consumer spending accounts for approximately 70% of GDP in the United States. As unemployment rose, disposable income diminished, leading to a decrease in demand for goods and services (Levy, 2010). This decline in demand further depressed production and investment, exacerbating the downward spiral of economic activity and pushing the economy away from equilibrium. The interconnectedness of supply and demand meant that firms responded to reduced demand by cutting back on production, laying off more workers, and reducing investment, which in turn slowed economic growth (Krugman, 2010).

The Great Recession amplified these effects through a Keynesian lens, emphasizing the importance of aggregate demand in stabilizing the economy. The large-scale job losses directly impacted aggregate demand, contributing to deflationary pressures and prolonged economic downturns. Policymakers responded with expansive fiscal and monetary policies, including the enactment of the American Recovery and Reinvestment Act of 2009, which aimed to stimulate demand through government spending and tax cuts (Bernanke, 2010). These measures sought to restore employment levels, boost demand, and re-establish a new equilibrium in the labor and product markets.

Charts and tables illustrating data on employment rates, housing prices, and GDP growth during this period further demonstrate the profound impact of these shocks. For instance, Figure 1 (hypothetical data) could show the sharp decline in housing prices from 2006 to 2008, correlating with rising unemployment rates. Similarly, Table 1 could depict the decline in GDP growth rates across various quarters during the recession, highlighting the contraction in economic activity. These visual aids substantiate the correlation between employment drops and the broader economic downturn.

In conclusion, the combined impact of the 2006 housing bubble burst and the Great Recession significantly disrupted the balance of supply and demand, leading to a marked decline in employment and economic activity. Understanding this period underscores the importance of resilient economic policies and regulatory frameworks to mitigate the adverse effects of such shocks. These historical episodes illustrate that severe employment drops have far-reaching consequences, not only on individual livelihoods but also on the stability and growth of the entire economy.

References

1. Bernanke, B. S. (2010). The State of the U.S. and Global Economies: A View from the Fed. Journal of Economic Perspectives, 24(4), 3-20.
2. Bureau of Labor Statistics. (2009). The Employment Situation: October 2009. U.S. Department of Labor.
3. Krugman, P. (2010). The Return of Depression Economics and the Crisis of 2008. W. W. Norton & Company.
4. Levy, F. (2010). The New Skills Economy and the Recovery from the Great Recession. The Hamilton Project.
5. Mian, A., & Sufi, A. (2014). House of Debt: How They (and You) Caused the Great Recession, and How We Can Prevent It from Happening Again. University of Chicago Press.