Economic Forecasting Paper

796 Words Feb 3rd, 2014 4 Pages
Weekly Reflection – Economic Forecasting Paper
Sharon Hooper, Tierra Lias, Kecia Neely, Ayanna Payne, Stanley Shaw, Nathaniel Zellner
ECO 372
February 19, 2014
Cynthia Cooksey
Weekly Reflection – Economic Forecasting Paper
Understanding the history as well as the social well-being of the world throughout the World War II era has immense importance due to the great depression faced in the United States and other countries that started just a decade before. The resource NBER Macrohistory Database would be an excellent choice to examine the economic state of some countries during and after one of the most significant wars in history. The site covers a variety of data records including business cycles, job creation, job data, and the
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The Keynesian model was made up of economists that focused on the short term issues whereas the Classical model economists focused on the long term issues. According to the Colander (2010) “The key in Keynesian economics is that the equilibrium income fluctuates and can differ from potential income.” Whereas the Classical economists would rather leave things the way they were.
The Federal Reserve Economic Data is another resource one can use to research and accumulate historical data. The Federal Reserve Economic Data (FRED) is an essential resource because it provides thousands of U.S. and international time series that will cover data such as: Monetary aggregates, interest rates, commercial bank data, exchange rates; plus collected employment, data in download, and usable formats. Sources like (FRED) will assist in analyzing the impact of various factors on aggregate demand and supply as well as evaluating the effectiveness of changes in fiscal policies as described in week two learning objectives.
Census Bureau is another resource you might use to gather historical economic data as well as economic forecast data. The census is a survey, which is conducted every five years, and it can be done in businesses, and a community. The survey is giving to

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