Join Michael McDonald for an in-depth discussion in this video Using the exercise files, part of Applied Economic Forecasting with Big Data.
- [Instructor] In this course we'll be using a variety of Excel files as we go the videos. If you wish to follow along with these exercises you'll want to download the Exercise Files folder to somewhere accessible on your desktop. As you enter the Exercise Files folder, you'll observe that we have a separate folder for each exercise file and entering any of these folders you'll see that we have files labeled begin and end. In this case we have a file for zero two zero one begin.
This is the file that corresponds to section two, video one and then the file at the beginning of the exercises. The end file, covers what the output should look like once you've completed the video.
Professor Michael McDonald 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 and future interest rate hikes. All you need is Microsoft Excel. Michael uses the built-in formulas, functions, and calculations to perform regression analysis, calculate confidence intervals, and stress test your results. He also covers time series exponential smoothing, fixed effects regression, and difference estimators. You'll walk away from the course able to immediately begin creating forecasts for your own business needs.
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- Understanding big data and economic forecasting
- Predicting values with regressions
- Analyzing economic trends and economic cycles
- Using fixed-effects regressions and binary regressions for forecasting
- Assessing the accuracy of an economic forecast
- Using scenario analysis