OFFICIAL PROJECT INFORMATION IS BELOW:
The research project for this class is to collect, organize and interpret national economic data over a ten-year period and provide a written summary and analysis.
The project must include both a written summary and an Excel file including data tables and graphs. The written summary (five full pages not including tables and graphs, longer is fine) should be a Microsoft Word document that is double-spaced with one-inch margins using 12 pt, Times New Roman font with page numbers. You are welcome to use other forecasters’ views in your paper. You must provide in-paper citations(APA style) and provide a list of references.
A. Students will collect annual data(yearly, one number for each year) and create data tables and graphs of:
1 Nominal and real GDP dollars, plus data tables and graphs of growth rates(NGDP & RGDP) for the years 2011-2021. Real GDP is also known as “chained dollar” GDP, and nominal GDP is also known as “constant dollar”.
2 CPI-All Urban Consumers (Current Series, annual average, seasonally adjusted) indices and the inflation rates for the years 2011-2021
3 the unemployment rates for the years 2011-2021
4 M1 and M2 for the years 2011-2021
All tables and graphs should be placed in one Excel file with multiple sheets.
B. Using the above data, summarize and analyze your findings in your paper. Also, answer the following questions:
- Real GDP: Describe RGDP and indicate growth patterns related to the above data. Also based on current economic data, what are the most recent RGDP figures and how does this rate differ from previous years?
- CPI: What does it mean? Summarize your findings and address in which of the years above was the rate of inflation the highest and lowest, respectively.
- Unemployment rate: What does it mean? Summarize your findings in which of the years above the unemployment rate was the highest and lowest, respectively. What is the most recent monthly unemployment rate in 2022?
- Business Cycle: Based on our class discussions, the above data and recent developments, and other sources; what phase of the business cycle is the U.S. economy currently experiencing?
- What are the specific, current U.S. fiscal and monetary policies being enacted? Are they appropriate for the current economic environment?
This project should be sent via the Assignment tool to your instructor on or before the above-mentioned date. The instructor will grade the assignment for written communication skills, completeness of data and analysis requested, use and relevance to the course material, and critical thinking skills. Concepts, assumptions, arguments, and conclusions should be clearly and thoroughly expressed
Some suggested data tool sources:
Economic Report of the President (most recent) plus appendices: Link
Bureau of Labor Statistics: http://www.bls.gov
Bureau of Economic Analysis: http://www.bea.gov
Federal Reserve Bank: http://federalreserve.gov
Money Supply Data
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