ECO 100 SU Health Care and Social Assistance Industry Report
ANSWER
. An Overview of the Sector:
Start with a sentence introducing the business you have chosen. Mention the NAICS code and broadly describe the activities, goods, and services offered by the sector. You can also discuss the importance of this sector of the economy.
2. Evaluation of Industry Size and Growth: In this section, utilize the macroeconomic tools offered to assess the size and rate of expansion of your chosen industry within the American economy. Data from Real GDP, Real GDP Change, GDP by Industry, and GDP Change by Industry can all be used. Clearly and succinctly present the material, using tables or graphs to help the reader understand it.
3. Macroeconomic Indicator or Policy Selection: Pick a macroeconomic indicator or policy pertinent to your chosen industry. Describe the significance of this indicator or policy for the sector and how it might affect it. Suppose you are talking about the finance and insurance sector. In that case, you can pick the FED Funds Interest Rates and explain how changes in those rates impact lending and investing activity within the sector.
4. Recent Trend Analysis: Describe a current trend relevant to the macroeconomic indicator or strategy you chose. Textual analysis, a graph, chart, or table showing the pattern over a certain period are all acceptable inclusions. Be sure to discuss how the trend will affect your chosen industry. Suppose you are talking about unemployment in that case; you may include a graph illustrating how rates have changed recently and talk about how a high rate of unemployment might affect consumer spending in the manufacturing sector.
5. Industry Performance Outlook: Give an overview of how you believe the industry will perform in the future based on your analysis of the industry’s size, growth rate, and current trend in the selected macroeconomic indicator or policy. Provide logical justification for your predictions. You could consider elements like new technological developments, alterations in legal requirements, the state of the world economy, and other pertinent elements that could affect the sector.
Be sure to utilize clear and concise language, maintain a logical flow between sections, and properly cite any data or sources you use. Although I cannot give you specific data or make graphics for you, my advice will help you organize your final report well.
QUESTION
Description
For this Final Report assignment, you can build off your previous economic brief and selected industry from Assignment 1, or you can select another industry such as Finance and Insurance, Health Care, or Manufacturing, and examine one of the macroeconomic indicators or policies below:
- GDP growth
- Unemployment rates
- Inflation rates
- Interest rates
- Imports and exports
- Government fiscal policy and issues related to taxation, government spending, and budget deficits
- FED (central bank) monetary policy and issues related to the FED’s mission to stabilize the economy
Example Final Report, Assignment 2 Template, Strayer Writing Standards
- Review an example final report.
- Use the optional template to help you get started.
- Review the Strayer Writing Standards. (See Instructions below.)
Instructions
Use Microsoft Word to prepare a Final Report that is a minimum of two to three (2-3) pages long in which you:
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.
These macroeconomic resources will help you find the size and growth rate of your industry in the U.S. economy and/or relative to GDP:
• Real GDP – Select Section 1, then table 1.1.6 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).
• % Change in Real GDP – Select Section 1, then table 1.1.1 (select MODIFY to change the year range and frequency). Data is from Bureau of Economic Analysis (bea.gov).
• GDP by Industry – Steps:
1. Select “Interactive Data.”
2. Select “Industry Data Tables.”
3. Select “Begin Using the Data.”
4. Select “Gross Output by Industry.”
5. Select “Real Gross Output by Industry (A) (Q).”
6. Select “Quarterly” or “Annual.”
7. Select “Next Step.” Data is from Bureau of Economic Analysis (bea.gov).
• % Change in GDP by Industry – Steps:
1. Select “Interactive Data.”
2. Select “Industry Data Tables.”
3. Select “Begin Using the Data.”
4. Select “Gross Output by Industry.”
5. Select “Percent Changes in Chain-Type Quantity Indexes for Gross Output by Industry (A) (Q).”
6. Select “Quarterly” or “Annual.”
7. Select “Next Step.” Data is from Bureau of Economic Analysis (bea.gov).
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.
These resources are available to help you measure and track macroeconomic indicators and outcomes of macroeconomic policies.You’ll use one or more depending on the macroeconomic indicator selected.
• 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.
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