Apply macroeconomic concepts to current and personal economic events and decisions.
1. Introduce your selected industry with a brief one-paragraph introduction. Refer to the NAICS (North American Industry Classification System) to review the details about your industry.
2. Assess your selected industry’s relative size and growth rate in the economy.
3. Identify one newsworthy macroeconomic indicator or policy (e.g., GDP, unemployment, inflation rates, interest rates, government taxation and spending decisions, and/or FED decisions) that the industry should monitor and explain why it’s important and how it might impact your selected industry.
• Unemployment rates – Data is from Bureau of Labor Statistics (bls.gov).
• Inflation rates as measured by the Consumer Price Index (CPI). Data is from Bureau of Labor Statistics (bls.gov).
• % Change in Real Exports and Imports – Select Section 4, then table 4.2.1. (Select MODIFY to change the year range and frequency.) Data is from Bureau of Economic Analysis (bea.gov).
• Government receipts, expenditures, and savings – Select Section 3, then table 3.1 for total government and table for 3.2 for federal government. (Select MODIFY to change the year range and frequency.) Data is from the Bureau of Economic Analysis (bea.gov).
• FED Funds Interest Rates. Data is from Trading Economics (tradingeconomics.com).
4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend.
5. Summarize how you think this industry will perform in the future. Provide support for your rationale.