FRED Data Analysis Exercise
This assignment is based on the exploration and analysis of two of the most important economic variables used in economic analysis: Real GDP and Unemployment. These variables are compiled by the Bureau of Economic Analysis and are used extensively by the Federal Reserve of St Louis, in a database called FRED (Federal Reserve Economic Data), which is made up of nearly 140,000 economic time series from more than 50 data producers. The expectation is that at the end of the course, your new found ability to extract, manipulate, and understand economic data will be an enduring benefit from taking this course.How to Access and Use the FRED WebsiteAssignment Part A:100 pointsMost Economists, Policymakers, Social Scientists, and Business Analysts use a country’s real GDP per capita as the main indicator of the average person’s standard of living in that country. Robert Kennedy expressed his disagreement with the over-reliance on the use of GDP per capita with the following comments:Gross Domestic Product, he argues “… does not allow for the health of our children, the quality of their education, or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our courage, nor our wisdom, nor our devotion to our country. It measures everything, in short, except that which makes life worthwhile, and it can tell us everything about America except why we are proud that we are Americans” (1968, para. 23).You can watch listen to his speech here:PART A ESSAY:Do you agree or disagree with the late Robert Kennedy’s assessment of the importance of GDP per capita in determining the standard of living? Provide reasons to support your position. – 50 pointsAssignment Part B:300 points
Items 1-4 below will require Multi-Series Graphs. This means plotting a graph with more than one variable (line). To add an additional line (variable) to a graph, you will first plot the initial FRED code, then click on the tab labeled as “Edit Graph.” An Edit Graph box opens. Click on the tab labeled “Add Line” within the Edit Graph box, and type the FRED code for the additional variable and hit enter. Select the correct variable from the list that populates and click the “add data series” tab. Be sure to update the date range.Note: you will do a separate Multi-Series Graph for each grouping (1-4) below, for a total of 4 graphs:PART B ESSAY:Using the graphs on measures of unemployment, educational attainment, gender and race, provide a comprehensive assessment of the labor market during the years 2000 to 2020. (NOTE: In responding to this question, please briefly comment on the employment situations before and after recessionary periods).100 pointsWriting RequirementsFailure to follow the requirements, especially plotting the graphs, will result in a significant loss in points:
Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?
Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.
Our essay writers are graduates with diplomas, bachelor, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.
We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.Read more
The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.Read more
The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.Read more
By placing an order with us, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.Read more