1. Inflation targets difference
1.1. Inflation target of Bank of England
- Inflation target is 2%
- Banks monetary policy is to achieve the inflation target by changing interest rate in
order to raise level of consumption
- The purpose of setting inflatio
Economic Data Analysis
Tutorial 4: Simple Regression Analysis and Statistical Aspects of the Regression
1.
We use the file ELECTRIC.XLS that contains data on Y: costs of production
(measured in millions of dollars) and X: output (measured in thousands of
Economic Data Analysis
Tutorial 1: Data Transformations and Graphical Representations
1.
The table below shows UK GDP related data
Value
million
1995
1996
1997
1998
1999
2000
2001
(a)
(b)
(c)
(d)
719176
762214
811067
859805
901269
944913
989254
Value
Inde
UNIVERSITY OF GLASGOW DEPARTMENT OF ECONOMICS ECONOMICS 2
DATA ANALYSIS TUTORIAL 3: CORRELATION AND SIMPLE REGRESSION
Question 1
People with university education tend to hold higher paying jobs than those with fewer
educational qualifications. This could
Macroeconomics Level 2
Tutorial 2
1. Show graphically how the demand curve is constructed
2. Use the Engel curve (or Income Expansion curve) to show the relationship
between rising income and demand. Does the curve have a well-determined
shape? Show the E
Economic Data Analysis
Variable: Characteristic that changes or varies over time.
Varies between the subjects studied or measured.
(Person, place, thing or idea). These variables have to be
measureable, not necessarily quantitatively. Examples:
GDP, hair
Economic Data Analysis
Lecture 8: Statistical Aspects of
Regression
Readings
Koop, Gary (2005), Analysis of
Economic Data, 2nd ed., John Wiley
and Sons. (lib Code: Economics
A374 KOO): Chapter 5.
2
Introduction
and are only estimates of and
Key question:
Economic Data Analysis
Lecture 2: Data Transformation and
Graphical Methods
Readings
Koop, Gary (2005), Analysis of
Economic Data, 2nd ed., John Wiley
and Sons. (lib Code: Economics
A374 KOO): Chapter 2.
2
You will learn
How to transform data
1.
2.
3.
4.
Economic Data Analysis
Lecture 5: Correlation
Readings
Koop, Gary (2005), Analysis of
Economic Data, 2nd ed., John Wiley
and Sons. (lib Code: Economics
A374 KOO): Chapter 3.
2
Introduction
o
We are now interested in investigating the
nature of the relatio
Economic Data Analysis
Tutorial 2: Descriptive Statistics
1.
The table below shows UK GDP related data
Value
million
1995
1996
1997
1998
1999
2000
2001
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
719176
762214
811067
859805
901269
944913
989254
Value
Index
1995=100
1
Macroeconomics Level 2
Tutorial 1
1. What is essential for the existence of the supply curve? Why can a supply
curve not be constructed for the monopolistic firm?
There needs to be a relationship between demand and supply and prices/levels. There
is no su