Session 2 

Empirical Insights from Macroeconomic Data 

Instructor: Ms. Richa Singh

  _{1. Applied Analysis of Macroeconomic Indicators}

• _{Real-time analysis of current macroeconomic indicators (e.g., GDP/inflation)}

• _{Overview of the structure and standard formats of macroeconomic datasets}

• _{Discussion of data credibility, comparability, and temporal relevance}

_{2. Data Preparation & Exploratory Analysis}

• _{Systematic data processing: Handling missing values, identifying and addressing outliers}

• _{Key descriptive statistics: Mean, median, mode, standard deviation, and their interpretation in the economic context}

• _{Visualization techniques: Use line plots and histograms to uncover the pattern in the data}

_{3. Identification & Interpretation of Key Variables}

• _{Exploring correlation and causation techniques in the analysis of macroeconomic data}

• _{Application of visual tools to analyse inter-variable relationships and reveal underlying trends}

_{4. Insight-Driven Interpretation}

• _{Interpreting graphs, tables, and summary statistics}

• _{Narrative construction: Unravelling the insights from the analysis}

• _{Avoiding common pitfalls: Misinterpretation of growth rates, base effects, and spurious correlation}