Ways to Find Historic, and Forecast, Macroeconomic Information

Max: Hi I’m Max Lessins. This is Crash Course for economics and today we’ll be discussing the Great Recession, focusing on the fiscal and monetary policies used to recover from the 2008 economic meltdown.

There are several factors that affect our economy, gross domestic product (GDP), real GDP, nominal GDP, unemployment rate, inflation rate, and interest rates. All of these factors have influences over how we purchase groceries, weather there will be massive layoffs of employees, and decrease in taxes.

1. Are there any hidden assumptions or price rigidities in the country or countries that might inhibit market force indicators from revealing the true economic health of the country, thereby either preventing government policy actions from correcting the problems or otherwise making them ineffective and counterproductive? This is absolutely the case. Prior economic histories of countries around the world have proven that there are general results that can be expected from a given action or series of actions, but this does not always hold true. The current state of affairs in the United States is a glistening example of that. The groundwork and root statistics of the United States economy circa February 2013 are pretty good, but jobless rates are still too high and GDP growth is anemic to nothing. There are two commonly attributable reasons for that. The first is that businesses are being very conservative with their funds. They're not investing and spending the way they usually would because of the uneven and unpredictable conditions that are seen with the federal government, the level of spending in general and the wider market.

In this paper, I will explain the roles and importance of the Business cycle Dating committee of the National Bureau of Economic Research. I will also explain how the NBER defines and dates recessions. Finally I will explain the important aspects and effects of the last recession.

GDP is not only an important indicator to a country's economy growth but also to social and politic perspectives. GDP reflects unemployment rate, inflation and interest rate. The Federal Reserve has continuously raised the interest rate at .25 point for more than 10 successive times in other to attract more and more investment. Government spending, as a part of GDP, has also increased from year to year. As a year passes, economists, firms and governments look at GDP as an indicator for the following year's economic policy in order to keep the economy go in a right track. GDP is also an indicator of recession, when an economy experiences two successive declines in GDP, the economy is going through recession.

Foreign exchange rates and International trade are important aspects of economics. The United States macroeconomy’s health is determined by these concepts and their factors.

Forecasting numbers and data is an extremely important role in policy making. Economic forecasting plays an integral key role for the decision-making process, helping governments and policy makers to devise major policies and strategies. Many times, there will be an abundant amount of statistical forecasting being done in order to forecast various economic indicators, however the complexity of them changes a lot across different measures. Often times their will be many different sources that have published relatable economic data which conclude of different forecasts for major macroeconomic variables.

Two macroeconomic variables that decline when the economy goes into a recession are real GDP and investment spending. GDP will decrease because the economy will be producing fewer goods and services overall. Investment spending, spending on new capital, will decrease in order to conserve and spend in other areas. The unemployment rate is one macroeconomic variable that will rise during a recession. If an economy begins producing fewer goods and services, businesses will need fewer employees to meet the production demand.

Everybody in the United Stated was affected by the recession that began in December of 2007 and spanned all the way to June 2009. Even though the recession is over, many people are still being affected by it and have still not been able to recover from the great recession. “The recent recession features the largest decline in output, consumption, and investment, and the largest increase in unemployment, of any post-war recession”. Many people lost their jobs due to the recession and some of them are still having a hard time finding jobs and getting back on their feet. Businesses

2.0 History of Economic Changes and comparing it to Forecast for the next Five Years

“This week 5 crash course macroeconomics” talked about how there was two different economics but specifically macroeconomics. Macroeconomics is the study of the whole economy as a whole. Around the 1930s was when macroeconomics first came about to help with policies. Economists use the GDP to find out the goods and services produced within a country in a full year. Only knew products made can count towards GDP this is also counted with dollars in a country. Although Greece had been there GDP decrease dramatically it did have an increase which bumped them back up. During the great depression droughts and the fact that there weren't that many jobs had made unemployment rise. Whenever some product or groceries at the stores price falls it is not

The current rate of GDP growth, according to the Bureau of Economic Analysis, is 2.7% (for Q3), and it was 1.3% in Q2 of this year. This rate reflects relatively slow growth, with challenges remaining in the domestic market and with sluggishness in Europe suppressing exports to that region. The rate of GDP growth is predicted to slow to a decline of 0.5% between Q4 2012 and Q4 2013, the US re-entering recession, according to the Congressional Budget Office's projections. These projections are based on the provisions of the Budget Control Act being enacted, though any observers are doubtful that this will occur.

June 1914, no one knows the tragic death of or a successful assassination attempt has triggered the first World war. However, that one bullet is not enough to start the war. The increase in nationalism, imperialism, and militarism may play important factor of the war. Unfortunately, the Great war is not the only Global War that has happened in history. Countries' ambition toward global power continues as dramatic progression in technology and military weapon leads to World War 2. Despite the death of 60 million, countries' economy collapse, and destruction houses and buildings, the legacy that the World Wars left behind is everlasting. The byproduct of these two wars is massive, in political a new global map and some of the most powerful and

Visit the Bureau of Economic Analysis Web site at  www.bea.gov  In U.S. Economic Accounts under  National click on Gross Domestic Product (GDP), then Interactive Tables: GDP and the National Income and Product Account (NIPA) Historical Tables, click “Begin using the data”, and use Section 1 - Tables 1.1.5 and 1.1.6 to identify the GDP (nominal GDP) and real GDP for the past four quarters.

The report gives information about main macroeconomic models which were applied to Russian Federation and United Kingdom. It consists of three parts. First part is dedicated to the identification of macroeconomic models for Russia and UK. The second part is about main macroeconomic changes between 2005 and 2012 in Russia and UK. Finally, effects of increase in interest rate by Bank of England to Russia and UK were described in the third part of the report. Secondary online sources and macroeconomic books were used.