Physics307L:People/Franco/Franco's Finance/Economy Lab

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Finance/Economy Lab

Summary

I've learn to really consider the sources of data whether is incorrect or misleading, and if it's valid.

Good Data

  1. ) Sources are cited
  2. ) Shows organization
  3. ) Show complete thoughts and data
  4. ) No lack in documentation
  5. ) Reasonable data interpretation/ Nothing suspiciously misleading
  6. ) There is contact info.
  7. ) Flows reasonably

Bad data is exactly the opposites, and you might have the in-between. So analysis data if it is suspicious, esp. if you are going to use it for something.

Discoveries for the GDP

It does not increase you PPP, assuming the growth isn't based on inflation or population increase. It is the worth of the goods and services produced in a nation. The US GDP is increasing overall, though the US might hit a couple of bumps along the road.

Discoveries in Inflation

Too much inflation is a bad thing, and so is too few. It is the rise in general prices and services in the economy in an elapsed time period. Inflation hurts the US PPP. The value of the CPI is always increasing, it's just the percent changes that hurt the economy. The price of goods and services will increase annually most of the time.

(For detailed info. refer to the Economy Lab/background info. on both subjects.)

Thoughts

Well, it was tough Lab to do considering there was no official guide on how to go about it. But it was interesting to know that as a student in physics that I can go through and analyze people's data for accuracy. So, if someone from, let's say, a political party states these really bias statistics or misleading information, I can go my myself and check it for validity based simply on my data analysis stills. There is no magic to it. Just do it. :)


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