This project will be using actual data for the U.S. economy to evaluate the Keynesian expenditure model and use it to estimate future changes in the economy. 

Begin by reviewing the Okuns Law model in your text.  Write a one page summary of the model emphasizing key assumptions and implications of the model.

You will be using date from the FRED database maintained by the Federal Reserve Bank of St. Louis.  The web site is found at:
   
http://research.stlouisfed.org/fred2/

At the top of the web page you will find a search box.  Search for unemployment rate.  You will be taken to a page with a selection of data bases.  Select UNRATE and click on the add to graph option.  You should now be on a page with a graph of the unemployment rate.  Take a moment and examine the graph.  Placing your cursor over the graph will show the actual data represented. 
Now click on the edit graph button found in the upper right part of the screen.  This opens a table that will let you modify the data in the graph.  Under frequency select quarterly and use average for the aggregation method.

Next, click on the ADD LINE tab and enter real GDP in the search box.  Select the GDPC1 option and then click on add data.  Then, under units, change the data to percentage change from one year ago.  Click on the FORMAT tab, scroll down to line2 and change the vertical axis to right.  Note how your graph has changed.  Now click on the X in the upper right-hand portion of the editing table to close the table. 

Using the date range selector chose Last 5 Years.  Take a moment to examine your graph and how the three data sets relate to each other.  Specially note that you have unemployment data for the first quarter of 2020, but the GDP series only has data for the fourth quarter of 2019.  When you are done, click on the download button and download the data to an EXCEL spreadsheet.  Open the EXCEL file and save it.

In your EXCEL file, create a column for estimated percentage change in GDP.  To calculate this column, use Okuns Law.  You should be able to estimate the values of real GDP for every quarter except the first quarter in your data (including the first quarter of 2020).  Next, create a column labeled deviation from true.  To calculate this column, subtract the estimated percentage change in GDP from the actual percentage change shown in your GDPC1 column. 

At this point you can compare the prediction of the model to the actual data.  Write a one page analysis describing how well you think the model performed in estimating the percentage change in GDP.  Look at your estimate for the percentage change in real GDP for the first quarter of 2020.  How confident are you with this estimate?  Explain why or why you are not confident.

Be sure to include a copy of the EXCEL table with your paper.

Respond to three (3) of the following four questions in short essays of approximately 600 words each.

-Your responses should draw on the relevant empirical and theoretical literature covered in the course material. (Attached)
-MUST USE SOURCES THAT ARE ATTACHED
-You may use only 1 outside source outside of what is listed. the source must be a scholarly review source.
-Plagiarism free!!

1. How did the history of the Internets formation shape its security concerns today?

2. What norms for cyberspace have different institutions and/or governments promoted? What has caught on and what has not? What does this tell us about how international norms are formed?

3. Two broad foreign policy approaches to the Internet have emerged: one advocates a free, open, global Internet and a multi-stakeholder model of global governance involving states and private actors, while the other supports limiting the flow of certain information online and a state-centric, multilateral model of governance. What motivates each of these approaches? To which are you more sympathetic? Why?

4.In what ways is it useful or not useful to think of cyberspace as a territory?  What are the limitations and/or rights of states to defend their territory in cyberspace? For instance, if a criminal hacker in Russia uses a computer in France as part of an attack that temporarily shuts down a power plant in the United States, do any of these states have a responsibility to act? What types of responses would be justified?