Economic Forecasting Paper

In: Business and Management

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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 status of import dealings, segregation, and even children’s health. The study of the causes and effects of the war are truly remarkable. A majority of the statistics were dealt with on a quantitative level with facts and little decisions of personal opinions about the war. This resource is a great source of study for the plethora of data about the world at war. The concepts pertaining to the benefits of the trade are very understandable, yet seem to be extremely selfish and somewhat cutthroat altogether. At the end of the day, it is all about supply and demand, which makes it smart business.
Quantitative research provides information about the future based on past trends. The Bureau of Economic Analysis generates various closely inspected economic data that impacts the decisions of civil servants, enterprises, and individuals. They provide an expansive up-to-date image of the United States economy. The bureau is a part of the United States Department of Commerce which provides analysis on input, output, savings, investments and balances of payments from various regions or sectors of the country. The predictions and decisions…...

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