Construct the quarterly real GDP growth rate

Assignment Help Macroeconomics

Reference no: EM132292444

Principles of Macroeconomics Data Assignment -

The purpose of this assignment is to develop your data analysis skills and put into practice your understanding of several topics that have been covered in class thus far. This assignment is divided into two parts: (1) GDP, price indices and inflation; and (2) labor force, labor force participation and unemployment.

Part I: GDP, Price Indices and Inflation

From the Federal Reserve Economic Data (FRED) download the following quarterly U.S. data series:

1) Nominal GDP (FRED ID: GDP)

2) GDP Deflator (FRED ID: GDPDEF)

3) Consumer Price Index, seasonally adjusted [Quarterly] (FRED ID: CPALTT01USQ661S)

4) Personal income per capita (FRED ID: A792RC0Q052SBEA)

From the Bureau of Labor Statistics (BLS) website download the following two series:

5) The monthly CPI for all items, seasonally adjusted (BLS ID: CUSR0000SA0).

6) The monthly CPI excluding food and energy, seasonally adjusted (BLS ID: CUSR0000SA0L1E).

Once you've downloaded these series do the following:

Using Microsoft Excel, construct the quarterly CPI inflation rate from 1970Q1 to 2018Q2.
Create a graph of this measure for the same date range and add it to the Microsoft Word document that you are going to submit.
Indicate the equation or formula you used to calculate the quarterly inflation rate (it would be easier to use the built-in equation environment, i.e. Insert > Equation).

Using Microsoft Excel, construct the real GDP from 1970Q1 to 2018Q2.
Create a graph of this measure for the same data range and add it to the Microsoft Word document that you are submitting.
Indicate the equation that you used to calculate real GDP.

Using Microsoft Excel, construct the quarterly real GDP growth rate from 1970Q1 to 2018Q2.
Create a graph of this measure for the same date range.
Indicate the equation used to calculate real GDP growth.

4. In Microsoft Excel use the Personal Income per Capita series to construct a Personal Income per Capita in real terms (i.e. in constant dollars, you can use 2009Q1 as the base period or some "general" base-year price index by multiplying by 100).

Answer the following two questions:

What was the percent decrease in Personal income per capita between 2008Q2 and 2008Q3, in real terms?
What is the personal income per capita in 2008Q1 expressed in 2017Q1 dollars?

Using Microsoft Excel, calculate the 12-month inflation rate from 2005M1 to 2018M06, using both measures of CPI, with and without energy and food (note that in this case, you will have to compare the growth rate between the CPI on the first month of your sample period to the CPI of 12 months before, so you will "lose" one year of observations).
Plot both of these series in a single graph.

6. In a single table in a Microsoft Word document, submit the three downloaded data series and three constructed data series for the period going from 2014Q1 to 2018Q2. That is, your table should have sixteen rows and seven columns for each variable plus the date. Additionally, you should include in this document the equations used to calculate each one of the three constructed series and the answers to the questions asked in 4. Finally, also include the graph that you constructed in 5.

Note that you must submit your own constructed graphs.

Part II: Labor force, labor force participation and unemployment

Download the following monthly U.S. data series for the period 1960M1 to 2018M06:

1) Total Population (BLS Id: LNU00000000)

2) Total number of employed individuals (BLS Id: LNS12000000)

3) Total number of unemployed individuals (BLS Id: LNS13000000)

4) Total number of employed individuals in a demographic of your own choosing (e.g., age, race, education attainment, etc.) If the demographic of your choosing does not span the entire aforementioned date range, please use the earliest available start date and the latest available end date. You can find these different demographics on the BLS website by using the "Data Finder" option. If you cannot find any demographic, use the "high-school graduates" measure, which can also be found on FRED, as the default demographic.

5) Total number of unemployed individuals in the same demographic chosen above.

Note: Download column format, not table format- you must click the option "More Formatting Options" on the BLS site.

Using Microsoft Excel, construct the monthly labor force participation rate from 1960M1to 2018M06.
In Excel, graph the constructed monthly labor force participation rate over the same date range.
Submit the equation used to calculate the monthly labor force participation rate and the graph.
Using Microsoft Excel, construct the monthly unemployment rate from 1960M1to 2018M06.

In Excel, graph the constructed monthly unemployment rate over the same date range.
Submit the equation used to construct the monthly unemployment rate and the graph.
Using Microsoft Excel, construct the monthly unemployment rate for the chosen demographic over the entire available date range.
In Excel, graph the constructed monthly unemployment rate for the chosen demographic over the same date range.
Submit the graph.

Attachment:- Assignment File.rar

Reference no: EM132292444

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len2292444

4/24/2019 9:46:10 PM

Instructions: Please do whatever they ask and do not download the graph from FED's site Create your own graph. Note that you must submit your own constructed graphs, a picture of the graphs showed in FRED will earn you zero points. Each part is worth twenty-five points. Your grade will be based on both the accuracy of the content and the quality of the presentation. You should see this also as an opportunity to develop your presentation skills. The assignment is due Monday, 29th in class (you may also email your assignment before the class begins). No late assignments will be accepted, no exceptions, so do not waste your time asking.

4/24/2019 9:46:04 PM

In a single table, submit the five downloaded data series and four constructed data series from 2016M06 to 2018M06 (i.e., eighteen rows of data). There should be nine columns in your table: (1) date, (2) total population, (3) total employed, (4) total unemployed, (5) employed by chosen demographic, (6) unemployed by chosen demographic, (7) total labor force participation rate, (8) total unemployment rate, and (9) unemployment rate by chosen demographic. ? Note: You must produce and submit your own graphs.

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