Macroeconomics
Issue IX
Dear Reader,
Welcome to the Macroeconomics column of the WBR. This edition arrives at a particularly seminal moment in economic history, one that macroeconomists will study for years to come. For the first time in nearly two years, the Federal Reserve has cut interest rates, while economists are still grappling with the holes in traditional economic theory that were exposed by COVID. In these unprecedented times, we hope our column can guide you as we all navigate uncharted macroeconomic territory.
In this edition, our writers cover various topics ranging from discussions on the future of asset management, to understanding the challenges of implementing economic theory in practice, to gentrification and rent controls. We hope you enjoy the articles, and we thank our writers for their commitment to the WBR.
Julian Haas ‘26 and Oscar Cassidy ‘27
Executive and Assistant Column Leader, Macroeconomics
Issue VIII

Issue VII
Issue VI
Dear Reader,
The Macroeconomics column in the sixth edition of the WBR comes at a unsteady time for the global economy. The world is continuing to grapple with the impact of not only the war in Ukraine and future political and economic uncertainty that come with it, but also rising economic and geopolitical tensions between major global powers. As we navigate a historic period, the column writers investigate recent global developments across a variety of areas domestically, including US recession, trade policy, and labor shortage; and globally, like the European energy crisis and World Cup. I hope these articles shed light on complex and fascinating current happenings in the turbulent times we are living through both at home and across the world.
Sincerely,
Victoria Carroll ‘24
Executive Editor of the Macroeconomics Column
Issue V
Dear Reader,
The Macroeconomics column in the fifth edition of the WBR comes at a precarious time for the global economy. The world is reeling from the impact of not only the COVID-19 pandemic, but also the war in Ukraine and future political and economic uncertainty that come with it. As we navigate a historic period, the column writers investigate the impact of recent global developments on a variety of areas, including US inflation and trade policy, as well as the socioeconomic battles Latinos fight today. They also focus on the rise and fall of IPOs and the housing boom as well as skyrocketing oil prices and the increasing impact of cryptocurrency on the macroeconomy. I hope that these articles will give you a look into the unprecedented times we are living through both at home and across the world.
Sincerely,
Victoria Carroll ‘24
Executive Editor of the Macroeconomics Column
Beyond individual lives, what will be the true economic impact of the American Rescue Plan? To answer this, we need to look at what makes a fiscal stimulus effective, the effectiveness of The Coronavirus Aid, Relief, and Economic Security Act (CARES) from May 2020, and what are the differences between that package and the current one.
According to the Center on Budget and Policy Priorities, “the impacts of the pandemic and the economic fallout have been widespread, but are particularly prevalent among Black, Latino, Indigenous, and immigrant households.”
The vaccine provides hope for many to return to work or to seek new employment opportunities. The rollout of the vaccine -- including the production, transportation, and administration -- created over 50,000 new job opportunities alone (Miranda 2021). Further, over 916,000 new jobs were created in March 2021, which is the largest amount since August 2020 (Casselman 2021).
Colloquially, inflation is generally ignored and misunderstood as a topic for stuffy economists. As consumers, we rarely notice the couple-cent increase in the price of our groceries, but this time we might.
A 70-year-old Seattle man emerged from the hospital to cheers last month after 62 days of fighting COVID-19 on his way to getting a clean bill of health. Then he received a 181-page bill for $1,122,501.04 for his stay.
In the face of multiple pressures on its economic growth, including the global recession, China would be able to enlarge its market size by releasing the inertia of its accumulated wealth. To achieve this, it would be vital to lower the cost of the healthcare system so people would feel less worried about saving money for medication.
In essence, urban Chinese have bet everything on their homes. They now have nearly 78% of their wealth tied up in residential property, versus 35% in the U.S., where more people invest in stocks and pensions.
Issue IV
Dear Reader,
When creating the fourth issue of WBR, we wanted to examine macroeconomic topics in the light of rising vaccinations. Our writers had different areas of interest, but the goal of this column was to paint a picture of what the economy looks like as we battle COVID more efficiently. Writers tackled issues such as interest rates, Jerome Powell’s future at the Fed, the labor shortage, and COVID recovery in underdeveloped countries. While this column is not exhaustive, I sincerely hope you will have a deeper understanding of the unstable and unique times we live in and get the opportunity to hear the opinions of Wesleyan peers on these issues.
I hope you enjoy it, and thank you to the writers for your hard work!
Sincerely,
Shannon McLoughlin ‘23
Executive Editor of the Macroeconomics Column
Issue III
Dear Reader,
When creating the third Issue of WBR, we saw an unequivocal demand to speak to the most significant macroeconomic issues that we collectively face as we navigate through a period of immense change. While our writers had different areas of interest, my aspiration is this collection of articles helps to paint a picture of the most pressing economic issues as we claw our way out of this pandemic. Writers tackled relevant issues from the vaccine rollout, to new stimulus, to healthcare, and more, giving us insight not only into what is changing, but also speculation of what the future holds. While this column is not exhaustive, my sincerest hope is that you will not only find a deeper understanding of the remarkably unique times we are living in, but also hear directly from fellow Wesleyan peers on their opinions as it relates to the macroeconomy.
I hope you enjoy the introduction of this new column I am thrilled to introduce to the Wesleyan community, and thank you to all of the writers for your incredible hard work!
Sincerely,
Shannon McLoughlin ‘23
WBR Macroeconomics Column Executive Editor (Column Leader)
Issues I & II
Due to Issue I and II not having dedicated Macroeconomics Columns, the Wesleyan Business Review has designated the following articles as part of the column.
A glooming military conflict with the United States, crippling economic sanctions, coupled with the COVID-19 pandemic, Iranians did not have much to celebrate this Nowruz, the Persian new year, in late March. As the continuation of the public health crisis puts more pressure on Iran’s already beleaguered economy, the regime is left with very few options.
Italy’s economy has long had serious structural issues which the coronavirus pandemic has only intensified.
The government is owed credit for efficient action and caring for the well-being of its citizens during the pandemic. But if there is one gaping hole in Singapore’s economic welfare response, it’s that it completely leaves out non-citizen and migrant workers.
The preliminary response to the pandemic was muted; rather than immediately banning travel to the United States and instituting stay-at-home orders, President Trump downplayed the danger of COVID-19. Leaked soundbites from February 7th have the president quoting that it is “more deadly than... your strenuous flus,” although he presented it to the public as just that— “a little problem” …
There is no doubt that this election was about the repudiation of Donald Trump and the ugliness he has brought out in this country. Civil rights and liberties were on the ballot, and people voted like their life depended on it, because it did. While those personal freedoms and rights took center stage, the economy got placed on the back burner. With Biden becoming President-Elect, it is important to understand his economic plan and how he will drive the country going forward.
We live in an era of unprecedented innovation and growth. From social norms to technologies, our world is developing at an extraordinary rate. Enter COVID-19.
Is the U.S. Headed Toward Negative Rates?