Economic Forecasting

Topics: Economics, Qualitative research, Macroeconomics Pages: 2 (323 words) Published: September 7, 2013
Economic Forecasting

August 20, 2013
Robert Stack

The study of macroeconomics demonstrates how individuals purchase, sell, and use raw materials to drive the economy around the globe. A useful source of data could be attained from the International Monetary Fund (IMF) where a person could gather current or historic data. After the collection of the data a researcher could utilize the International Monetary Funds website to see a forecast of any certain country. On the IMF website there are several choices for data such as International Financial Statics, Principal Global Indicators, and World Economic Outlook Databases. This informational data is useful for the inflation of good and services, tracking the market value of goods and services (gross domestic product), and other macroeconomic indicators for more than 200 countries. An excellent resource for qualitative and quantitative information is locatable on the International Monetary Funds website that has data as far back as 1999. The IMF stores historical data and also forecasts into the future. Our team was very impressed with our instructor for this class for the simple reason that the material that we are learning about was in real life scenarios. During class we covered topics like gross domestic product, gross national product, and how raw materials are used throughout the world. Our team was also interested in how economic indicators shape the world we live in. After doing the research for this paper we all were intrigued that there are organizations in the world that track and save historic data on countries throughout the world. As we did research and we discovered that International Monetary Fund collects data on hundreds of companies, and also includes information on quantitative as well as qualitative information on each country. We all are looking forward to next weeks assignments which will cover monetary policies and procedures....
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