Description is in the file. It is a group project, tell me what you can do to help.
Macroeconomics Macroeconomics , Spring 2019 Empirical Adventure Teams: Part 1 Introduction: One important avenue to advance kritical thinking as process and outcome is to afford you, the totally good college student, with assignments that present a set of questions, require you to identify data sources, evaluate data, compile and manipulate data, then organize that data to develop and support a conclusion. This is one of those assignments!!! The assignment: This is a team project. Teams have been randomly assigned. Each Team has a Discussion Forum to facilitate completion of the assignment. Below you will find three sets of questions, each set requiring use of a specified website. Projects will be evaluated using the following criterion: clarity of exposition – both verbal and analytical; accuracy; presentation, and attention to detail. In other words, I expect totally purrfect work. Empirical Adventure #1 is due at digitally as a pdf or Word document at 8:00 am UST, Monday, April 29, 2019, and will be submitted via CANVAS. The cover will list the Team number and each member, About Team and Assessment: Fundamental to these assignments is team work. This means you need to organize yourselves, establish goals, ways of achieving goals; you need to meet and evaluate data, derive conclusions; you need to develop a well-organized and coherent report. This requires consistent effort, diligence, commitment and responsibility. Teams receive a Team score. The Team distributes the points amongst Team members. Part I: Bureau of Economic Analysis (1) What is the BEA (provide more information than the summary on “Home.”)? (2) For the past 6 quarters, construct a time-line depicting the percentage change in GDP, change in inventories, and the unemployment rate. Provide a paragraph or two that explains probable relationships between the trends. Be scientific in this assessment. (3) What is the Gross State Product for Washington in 2016? What does this mean? Be sure to elaborate! (4) Determine the purr capita income for Washington State, Clallam County and King County for the years 2015, 2000,, and 1990. Assess the relative changes in per capita income and the probable explanatory variables. What is wrong with comparing these numbers and how can the problem be corrected? How does this change your analysis? (5) For the past 4 quarters, calculate the Federal budget surplus/deficit. Explain what is happening. (6) Construct a pie chart that depicts the relative sources of Federal tax receipts (income taxes, corporate taxes, payroll taxes, etc.), one for 2016 and another for 1980. Explain what has happened to Federal revenues, overall and relatively, by source. Part II: Bureau of Labor Statistics (1) What does the BLS do (provide more information than the summary on “Home.”)? (2) For the past 6 quarters, construct a time-line depicting the percentage change in the unemployment rate, the CPI and the PPI. Provide a paragraph that explains probable relationships between the trends. (3) How much does a registered nurse earn – hourly, weekly and annually – in rural Washington? Part III: US Census (1) What is the current poverty threshold in the US? (2) Imagine two people living at the poverty threshold have a child. How much additional income will it take to continue living at the poverty threshold? What does this tell you about the “value” of a child? (3) What is the median family income in Washington State? (4) You are going to construct a family income distribution profile for the United States for the year 2005. Your graph is to contain the following numbers: · Percent of total income going to each quintile using the official measure, and the distribution in the absence of transfer payments; · Family income in money terms at each quintile cutoff; · The mean family income for each quintile; · Median and mean family income; · Total family income. Provide a couple of paragraphs assessing the data and what it means. Part IV: Human Capital Investment Imagine that you’re sitting in the PUB, dutifully working on this assignment, when your two best friends, Totally Serious Classmate (TSC) and Half Brain, stop by. TSC opens her backpack, pulls out a new platinum plated TI Turbo 377 graphing calculator complete with a MP5 docking port and surround sound speakers, and begins crunching numbers: she’s working on a homework assignment for MATH 126. Half Brain, eyes glazed, harrumphs at TSC working away; downs a Godzilla size slurpe in a single gulp, belches twice, and then asks what you’re doing, rolling his eyes toward TSC like she’s a total loser. “I’m graphing an economics assignment,” “Duh, what fur?” “Dr. Underwood says that in a competitive world economy, skills involving quantitative reasoning will command greater employment possibilities.” “Nu uh,” says Half Brain, “I’m tooking advanced Feeeeeeeelings dis quarter and da Feeeeeeeelings teacher says dat feeeeeeeelings and espressin dem is much more important dan dat grafun stuff so we don’ts do numbers cuz you can’t feeeeeeeels dem anyways and we circle up and talk about stuff and dar will be lot’s of jobs for us after graduating from College cuz da teacher showed us a number dat said dar be tremendous increased in demands fur people like me who don’ts do math, or science stuff, and especially dat stupid economics ding dat no one understands anyways, but gots skills in being nice and sensitive and can circle up and talk fur hours about nothing like its something important even when no ones cares so dare!!! TSC, distracted from study, stares at Half Brain for a few moments then says “Half Brain, I’m majoring in computer science and will work as a software engineer when I finish studies at Cal Poly Pomona.” Looking at you she continues, “It’s not economics, so my profession will have fewer options than analysts, but there is, nevertheless, a high paying job for me. What about you Half Brain, did your Feeeeeeeelings teacher share with you data on job oppurrtunities, changes in employment demand and average income by educational pathway?” “Duh, what dat?” Take Half Brain for an analytical voyage. Use the web sites above to trace out changes in employment demand, career possibilities by field of study, expected earnings, etc. I’d like to see some totally thorough empirical and written analysis!