Excel: Economic Analysis and Data Analytics
2h 17mIntermediate2022-08-30
Authors
Michael McDonald
Researcher and Professor of Finance at Fairfield University
Course details
Economics affects us all each day—from issues like inflation to the health of the economy and risk of a recession. In this course, learn how to harness economic data to do economic analysis and forecasting to gain key business insights and analyze market conditions.
Join professor Michael McDonald as he demonstrates how to harness the wealth of information available on the internet to forecast statistics such as industry growth, GDP, and unemployment rates, as well as factors that directly affect your business like property prices, future interest rate hikes, supply chain issues, and more. All you need is the built-in formulas, functions, and calculations of Microsoft Excel. Along the way, get tips on using regression analysis, confidence intervals, and forecasting tools with your company’s key performance indicators (KPIs), building your skill set in data analytics to better meet the needs of your business.
Join professor Michael McDonald as he demonstrates how to harness the wealth of information available on the internet to forecast statistics such as industry growth, GDP, and unemployment rates, as well as factors that directly affect your business like property prices, future interest rate hikes, supply chain issues, and more. All you need is the built-in formulas, functions, and calculations of Microsoft Excel. Along the way, get tips on using regression analysis, confidence intervals, and forecasting tools with your company’s key performance indicators (KPIs), building your skill set in data analytics to better meet the needs of your business.
Skills covered
Corporate FinanceSpreadsheetsMicrosoft ExcelFinance and AccountingData AnalysisData ScienceBusiness Analysis and StrategyBusiness Software and ToolsMicrosoftDeep Dive (X:Y)
Concepts
Introduction
- Economic forecasting
- What you should know before watching this course
- Using the exercise files
The Basics
- Basics of economic analysis
- Sources of economic data
- Economic forecasting methods
- Regression analysis in economics
- Predicting values with regressions
- Economic forecasting in the research literature
Economic Data Analysis
- Trend analysis in forecasting
- Serial correlation in data
- Analyzing results
Forecasting Economic Trends
- Advanced forecasting methods
- Binomial regressions
- Fixed effects regressions
- Difference in differences analysis
- Stata and economic forecasting
- Interpreting Stata results
Using Economic Forecasts
- What do the results mean
- Testing accuracy in economic forecasts
- Scenario analysis in economics
Economic Data
- Common economic variables
- Lead and lag relationships
- Seasonality and data cleaning
- Interpreting other's economic forecasts
Conclusion
- Projects to try next