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Economic Indicators – An Introduction

Economic indicators move markets. Whether you are an investor, consumer, dealer, broker, saver, or borrower, you will be interested in the future direction of the economy and inflation, the likely response of the central bank to these developments, and the impact on interest rates. Economic indicators enable analysis of economic performance and predictions of future performance.

 

This course provides an introduction to the use of economic indicators in evaluating the health of the economy. It explains the key jargon, and covers important issues such as the collection and publication of data, the compiling of index numbers, the calculation of growth rates, the use of indicators for comparison purposes, and the secrets and pitfalls in interpreting the indicators.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Describe what economic indicators are, what they are used for, who publishes them, and who uses them

    Outline the process for the collection, calculation, and publication of economic indicators

    Use some basic numerical techniques for interpreting economic indicators

    Explain the key issues to look for when interpreting economic indicators

  • COURSE OUTLINE

    Topic 1: Overview of Economic Indicators

    What are Economic Indicators?

    What do Economic Indicators Tell us?

    Who Publishes Economic Indicators?

    Who Uses Economic Indicators?

    Importance of Correctly Interpreting Economic Indicators

    Topic 2: Compilation & Publication of Economic Indicators

    Publication Frequency

    Returns & Surveys

    Sampling Inaccuracies

    Times Series

    Volume, Value & Price

    Constant & Current Prices

    Effects of Inflation

    Index Numbers

    Calculating Index Numbers

    Composite Indexes

    Composite Indexes – Example

    Base-Weighted Indexes

    Current or Chain-Weighted Indexes

    Comparison of Base & Chain Weighted Indexes

    Weighting-Wider Applications

    Seasonal Adjustments

    Data Collection

    Topic 3: Secrets & Pitfalls in Interpreting Economic Indicators

    Revisions

    Traps with Growth Rates & Percentages

    The Convergence Illusion

    Topic 4: Numerical Techniques for Interpreting Economic Indicators

    Percentages & Proportions

    Measuring Changes

    Calculating Annualized Rates

    Adjusting for Inflation

    Making Comparisons

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    75 Minutes

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