Is this the right time to expand my business? Macroeconomic Indicators Summative Project (MISP) March 15th,
Question:
Is this the right time to expand my business?
Macroeconomic Indicators Summative Project (MISP)
March 15th, 2023
The Economic Forecasters, Inc.
175 Main Street
Columbia, South Carolina 29021
To Whom It May Concern:
I am the CEO of a successful firm that manufactures and distributes a wide array of consumer products. I would like to have the company open another factory and undergo a rather large expansion, but our Board of Directors is concerned that the U.S. economy is too weak to support such actions. Recent economic reports—especially in the popular media—paint a mixed picture. Therefore, I would like to hire your firm to produce a report detailing at least three important economic variables that describes the current state of the U.S. economy. What do these indicators tell us about the health of the economy and their influence upon Big Money Making Industries? Please include charts and graphs to illuminate your findings. Be sure to include current, up to date trends in those indicators. And most importantly, I need your assessment and recommendations as to whether now is the right time for our expansion.
I look forward to receiving your report and sharing these results with the Board of Directors.
Sincerely,
Robert Hendrix
Chief Executive Officer
Big Money Making Industries
YOUR TASK
Your job is to demonstrate a deep understanding of the primary macroeconomic indicators—Economic Growth (as measured by real GDP), unemployment rate, and inflation--that measure the health of the economy.
You will need to find and include current data for the state of the economy. Sites that may be helpful for this data:
The Federal Reserve "FRED" site: research.stlouisfed.org/fred2/
The Concise Encyclopedia of Economics: www.econlib.org/library/CEE.html
Investopedia Dictionary: www.investopedia.com/dictionary/
The Economist: www.economist.com/economics-a-to-z
The Bureau of Labor Statistics at www.bls.gov
Trading Economics at www.tradingeconomics.com
Essentials Of Business Research Methods
ISBN: 9780367196189
4th Edition
Authors: Joe F. Hair, Michael Page, Niek Brunsveld