C Macroeconomic Accounting

This module provides a comprehensive overview of macroeconomic indicators, including GDP, the unemployment rate, and inflation, with a particular emphasis on the national accounting framework that underlies these indicators. It explores how these indicators are measured, the data sources used, and their significance in assessing the health and stability of an economy.

C.1 Overview

Outlined below are the chapters contained in this module:

  • Chapter 10: “Macroeconomic Accounting” explains how key economic indicators are systematically measured and recorded to assess the performance and stability of an economy. It covers essential metrics such as GDP, consumption, investment, international trade, government budgets, prices, money supply, and the balance of payments.

Moreover, the following DataCamp course supplements the chapters mentioned above:

The module culminates in the creation of a data report:

  • Data Report on Macroeconomic Indicators: This tests your ability to analyze macroeconomic indicators, such as GDP, the unemployment rate, and inflation, using the national accounting framework.

C.2 Learning Objectives

Upon completing this module, students will be able to:

  1. Understand the principles of national accounting.
  2. Identify key macroeconomic indicators within the national accounting framework.
  3. Locate and interpret data sources relevant to these indicators.
  4. Utilize R to effectively visualize macroeconomic data.
  5. Draw insights from these visualizations and understand their implications for economic analysis.

C.3 Learning Activities & Assessments

Throughout this module, you’ll engage in the following activities:

  • Textbook Engagement: Read the textbook chapter 10 and reproduce the content provided. Input the code from the chapters into RStudio and verify that your results match the chapter outputs.

  • DataCamp Training: Work through the Joining Data with dplyr course on DataCamp. While progressing through the courses, keep an R script handy and apply the learned functions to any of the datasets introduced in this module. This preserves the new functions of the course and potentially offers new insights from the chosen dataset.

  • Data Report Creation: To consolidate your learning, craft a Data Report on Macroeconomic Indicators using R Markdown. Your report should clearly display data, provide meaningful analyses, and embody the module’s content.

Your assessment will be based on:

  • DataCamp Course Completion: Finish the designated DataCamp courses for this module. Your grade is based on course completion; thus, you receive full credit by completing all chapters and obtaining a minimum of 75% XPs (experience points) by the deadline. Hence, while the Take Hint and Show Answer options reduce your XPs, they won’t affect your module grade if you stay above the 75% threshold.

  • Data Report Evaluation: The quality of the data report is central to module assessment. It should be professional, suitable for clients, and reflect the module’s content. Ensure you adhere to the data report instructions.

For further guidance on maximizing your textbook and DataCamp experience, consult the Textbook Engagement and Learn R with DataCamp sections. For specifications on the data report’s format and content, consult the Data Report Instructions and the subsequent section below.

C.4 Data Report on Macroeconomic Indicators

For this assignment, select a country of your choice and analyze its macroeconomic indicators. Discuss how these indicators are measured and the data sources used. Visualize the indicators to observe how the selected country’s indicators have evolved over time, identify historical trends, and highlight significant events that have impacted these macroeconomic indicators.

As preparation for this assignment, please work through the module chapters and DataCamp courses listed under the overview section above. Ensure your report adheres to the guidelines detailed in Data Report Instructions, which dictates the creation of two versions: official and internal. Upon completion, submit both versions on Blackboard.