Economic Forecasting Paper Essay
Economic Forecasting Paper
Two historical economic data where information can be found are Bureau of Economic Analysis, U.S. Department of Commerce and FRED, Economic Time-Series Database. The FRED database comprises the national economic and financial statistics as well as interest rates, consumer price indexes, employment and population and trade data. This database is a valuable source because this consents populaces to see how the country’s financial state is. The Bureau of Economic Analysis includes estimates concerning national, international, and regional economic activity. The first source that I would use is the U.S Department of Commerce/ Bureau of Economic Analysis. I would use this source because the data here is first accurate and for the most part of to date. This site gives you real up to date data on the real GDP. This resource gives you data on consumer spending which is one important resource that needs to be looked at and tells us how the economy is doing.
The second source that I would use is the National Bureau of Economic Research. This site gives you additional sites for gathering data relating to historical economic data. For economic forecast data I would use information gathered from Dow Jones Average which provides not only historical data and can gives us an outlook on how the economy is doing and can predict the future on our economy. With these resources a qualitative factor can be that most of these resources can expert driven who can in turn see the short term goals of business and products. The quantitative factors in these resources eliminate the experts and rely on the people and focuses on the long run of the economy.
It also provides statistics decision influenced by the government officials, business people, households and individuals. The quantitative of each site is that they included tax list information and census return evidence. The Bureau of Economic Analysis and FRED database qualitative used are they both expound on the findings that are encompassed in the database. The area that was not comfortable to me was about the measureable and qualitative. I did not fully comprehend what the real variance is and after reading the material it seem as if they both mean the same.
Plant genetic resources constitute our invaluable assets to meet the growing demands to increase crop production and productivity. Plant genetic resources are the genetic material of plant which determined their characteristics including their ability to adapt and survive. The PGR profile of a crop includes its wild species, weedy companion species, sub-species, botanical varieties, land races, ancient and heirloom cultivates, genetic stocks, along with obsolete and modern cultivates that make up the total gene pool of the crop. PGR in the form of seeds and plants provide the raw materials that scientists use to address crop production challenges and develops new crops.
Scientists use these resources to develop knowledge valuable in copying with inadequate water supplies, diseases, heat, and cold tolerance, and understand their nutritional properties. PGR provides the genomic variability and the essence of crop improvement program, without adequate germ plasma. A plant breeder’s success will be deficient. Through about 30 plant species provide the major food and energy sources, some 3000 species of cultivated plants are grown worldwide for various purposes.
This week’s focus does relate to my field because I work for a Medicare part D drug plan. Having an indication of how and what the historical records collect it gives me a better understanding of how they regulate the group of people who may qualify for Medicare assistance each year.
The topics I felt comfortable with were the impact on various factors that has aggregate demand and supply. I struggled most was with the evaluating the effectiveness of changes in the fiscal policies using the Keynesian and Classical models. There is no stable market; there is a constant need of supply in demand in my place of work. Corey Johnson
This week’s topics were very good and I understood them. I have to side with both the Keynesian and the Classical models because I think that this economy needs a little bit of both in order to survive. The government and the people need to work together to make it work but they people should have a say.
U.S. Department of Commerce. (2012). Retrieved from Bureau of Economic Analysis: http://www.bea.gov/