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ISE A Guide to Everyday Economic Statistics

8th Edition
1260092941 · 9781260092943
The 8th edition Guide to Everyday Economic Statistics is a handy resource for understanding common everyday economic statistics and their historical context. The authors examine how different series are constructed, how they can be interpreted, and h… Read More
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CHAPTER 1: INTRODUCTION

How the Statistics in This Book Were Chosen 1


A Frame of Reference 2


The Many Faces of Economic Statistics 5


Abusing Economic Statistics 7


Using Economic Statistics 9


And Beware of Forecasts!       10


A Final Word         12

CHAPTER 2: TOTAL OUTPUT and INPUT


Gross Domestic Product         13


Recession vs. Depression       23


The NIPAs         27


Personal Income         30


CHAPTER 3: PRODUCTION and GROWTH


Purchasing Managers' Index         35


Index of Industrial Production       39


Capacity Utilization         43


Labor Productivity         46


Leading Economic Index                 50


CHAPTER 4: INVESTMENT and CAPITAL EXPENDITURES


Gross Private Domestic Investment       57


New Building Permits and Housing Starts         62


Business Inventories         66


Inventory/Sales Ratio         70


Durable Goods Orders         72


CHAPTER 5: EMPLOYMENT and UNEMPLOYMENT


Total Employment         75


New Jobs Created         78


Unemployment Rate         81


Help-Wanted Advertising         87


New Jobless Claims         90


CHAPTER 6: SPENDING, PROFITS, and EXPECTATIONS


Consumer Spending         93


Retail and E-Commerce Sales       96


Wholesale Sales         99


Consumer Expectations and Confidence         101
Employment Cost Index               104


Corporate Profits       106


Beige Book       108


CHAPTER 7: PRICES, MONEY, and INTEREST RATES


Consumer Price Index       113


Producer Price Index       120


Money Supply       123


Fed Funds Rate       126


Primary Credit Rate       129


Treasury Bill Rate       132

The 8th edition Guide to Everyday Economic Statistics is a handy resource for understanding common everyday economic statistics and their historical context. The authors examine how different series are constructed, how they can be interpreted, and how we may use them effectively. Students of all levels will find this guide easy to read and helpful in understanding how individual statistics relate to the economy as a whole.
Complete description, background, and uses of over 40 commonly reported economic statistics from GDP to unemployment to the international value of the dollar.
Extensive use of time series graphs to show the historical behaviors and patterns of each economic series in a visual format.
Expanded and updated sections on stock market prices and the indices that track them, the new jobs created series, and the Libor rate and rate-setting scandal.
Complete discussion of the Great Recession and the way our economic statistics did or did not predict it.
For Connect? users, the ReadAnywhere App is a free, downloadable app available on iOS and Android mobile devices. It gives students mobile freedom to access their eBook anywhere, even offline, on their smartphone or tablet. Once chapters are downloaded, students can use the same tools that are available in the eBook. Any notes or highlights they make in the eBook will sync across platforms. Visit https://www.mheducation.com/highered/explore/readanywhere.html for more information.
Combines sources and data with interpretation, historical perspective, understanding, and analysis.
Common-sense framework: Provides a common-sense "framework of reference" for understanding, using, and interpreting the basic economic statistics we encounter in our daily lives.
Strong graphs:Clayton/Giesbrecht/Guo provides extensive graphical presentation of statistical series; coverage includes from 1962 to the first quarter of 2017.
Prior knowledge: Prior knowledge of economics not necessary. The 8th edition is appropriate for all introductory courses.
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